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Payment24 launches cloud-based payment product

By Delisha Fernandes

November 16, 2023

  • Banks
  • cloud-based payment
  • Financial Payments
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Payment24, cloud-based payment, financial payments, banks, retailers, merchants, Microsoft Azure, Mobile Money, Fintech news, Fintech AfricaPayment24, a payments platform, has launched a financial payments product – Cloud Switch. This cloud-based payment solution expertly serves the unique needs of acquiring banks, fuel retailers, merchants, and retailers, and decreases the time to market for businesses wanting to upgrade their transaction switching systems.

Cloud Switch is a fully integrated, hardware-less payment switch that supports a myriad of payment methods. The product combines cloud technology, various payment methods, robust POS compatibility, and a suite of value-added services to deliver an all-inclusive transaction environment.

Key features of the new solution include cloud-based infrastructure hosted on Microsoft Azure, no need for additional hardware, support for multi-faceted payment methods, and an inclusive merchant portal for comprehensive transaction monitoring.

“Cloud Switch embodies our dedication to transforming the payment ecosystem. This solution empowers acquiring banks and fuel retailers to easily manage complex payments, harnessing the cloud’s power for unmatched scalability and reliability,” said Shadab Rahil, Joint CEO at Payment24. “Ultimately Cloud Switch was developed to cater to a global market but developed with the localisation capabilities required to adapt it to every region it is deployed in.”

For acquiring banks, Cloud Switch enhances traditional standalone POS machines allowing banks to expand offerings to modern digital payment services, offers a comprehensive application engine, and supports a wide variety of payment methods.

Fuel retailers can expect a multitude of benefits such as multi-bank acquiring, compatibility with popular forecourt controllers and POS terminals, and value-added services like support for their Loyalty and Rewards, Click n Collect, Vouchering, and Coupons offerings

“With an established history of industry-leading innovation, Payment24 continues to redefine payment solutions. Cloud Switch embodies this ethos of transformation and progress,” said Nolan Daniel, Joint CEO at Payment 24. “We understand the intricacies of the payment landscape and strive to make it more efficient, seamless, and user-friendly for businesses. Our comprehensive Cloud Switch solution goes beyond merely processing payments; it’s a powerful tool that empowers businesses to stay ahead of the curve, increase profitability, and deliver an unmatched customer experience.”

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