The Spar retail chain has signed a multimillion-rand deal with Blue Label Telecoms to secure its credit and debit card transactions.
Kwikpay and Transaction Junction, both subsidiaries of Blue Label Telecoms, will supply up to 300 Spar stores with electronic fund transfer switching solutions. The deal, worth an undisclosed amount, is for a three-year period.
A Blue Label Telecoms statement says the new system is a centralised switching infrastructure that will provide Spar with a combined view of transactions across all its stores. Other features include user-friendly access to the real-time status of transactions and improved reconciliation capabilities.
Kwikpay sales director Charles Smithers says the enormity of securing the retail chain's debit and credit card transactions meant Spar will spend millions for an efficient service. "Spar values the security of debit and credit card transactions and will go out of its way to ensure other retailers don't know how much they spent on this."
"We evaluated various vendors to fulfil our business requirements. Transaction Junction was selected based on its development competencies, skills and sophisticated technology platforms," says Spar CIO Enno Stelma.
Smithers explains the importance of the transaction switch solution in ensuring faster approval from banks at the point of sale: "If a customer can't pay with their plastic card, then they'll shop somewhere else."
Kwikpay is already the sole distributor and billing process service provider of virtual electronic prepaid airtime to 600 Spar stores.
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