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iVeri is a payments technology company based in Johannesburg, South Africa. Established in 1998, it is South Africa's largest technology provider for both physical and mobile commerce. [1]
iVeri is PCI DSS compliant, (a payment card industry security requirement for entities that process, transmit, and/or store cardholder data) and EMV approved. [2]
iVeri was launched as a company and began developing electronic payment technology in 1998. Initially operating in South Africa and Namibia, they developed payment technologies[ buzzword ] and were one of South Africa's largest banks. They were one of the first companies to offer E-commerce transactions in South Africa [3] and one of the first mobile point of sale (MPOS) devices in Africa. [4] Since 2006, they have branched out into the rest of Africa and now provide a variety of payment functions[ buzzword ] in many African countries.
iVeri provides card acceptance utility in developing economies. Their mobile commerce system allowed remote merchants, such as game lodges and tourist trains, to process transactions in places with minimal infrastructure. [5]
Since 2010, the company has received a number of international awards for its advanced technological innovation in its products and humanitarian work using technology.[ citation needed ]
In June 2016, iVeri launched the first annual African Financial Retail Readiness Index (AFRRI) report, looking at the maturity of the current financial services sector across eight African countries. [6] The AFRRI report looks at Kenya, Nigeria, Ghana, South Africa, Tanzania, Uganda, Zambia, and Zimbabwe comparing social, economic, and demographic information to assess the maturity and potential for formal retail banking in each country.
iVeri Payment Gateway provides mobile, internet, recurring payment, point of sale, and card-not-present card acceptance channels, including reporting and back-office functionality for both the bank and the merchants. [7]
iVeri created the technology and maintains and sponsors the FishMS service for WWF SASSI. Since SASSI's (South African Sustainable Seafood Initiative) FishMS service first went live in December 2006, it has responded to a substantial number of queries on sustainable seafood from over 18,000 different consumers around South Africa. [8]
Electronic funds transfer at point of sale is an electronic payment system involving electronic funds transfers based on the use of payment cards, such as debit cards or credit cards, at payment terminals located at points of sale. EFTPOS technology was developed during the 1980s.
A smart card (SC), chip card, or integrated circuit card, is a card used to control access to a resource. It is typically a plastic credit card-sized card with an embedded integrated circuit (IC) chip. Many smart cards include a pattern of metal contacts to electrically connect to the internal chip. Others are contactless, and some are both. Smart cards can provide personal identification, authentication, data storage, and application processing. Applications include identification, financial, public transit, computer security, schools, and healthcare. Smart cards may provide strong security authentication for single sign-on (SSO) within organizations. Numerous nations have deployed smart cards throughout their populations.
Electronic cash was, until 2007, the debit card system of the German Banking Industry Committee, the association that represents the top German financial interest groups. Usually paired with a transaction account or current account, cards with an Electronic Cash logo were only handed out by proper credit institutions. An electronic card payment was generally made by the card owner entering their PIN at a so-called EFT-POS-terminal (Electronic-Funds-Transfer-Terminal). The name "EC" originally comes from the unified European checking system Eurocheque. Comparable debit card systems are Maestro and Visa Electron. Banks and credit institutions who issued these cards often paired EC debit cards with Maestro functionality. These combined cards, recognizable by an additional Maestro logo, were referred to as "EC/Maestro cards".
Verifone is an American multinational corporation headquartered in Coral Springs, Florida. Verifone provides technology for electronic payment transactions and value-added services at the point-of-sale. Verifone sells merchant-operated, consumer-facing and self-service payment systems to the financial, retail, hospitality, petroleum, government and healthcare industries. The company's products consist of POS electronic payment devices that run its own operating systems, security and encryption software, and certified payment software, and that are designed for both consumer-facing and unattended environments.
First Data Corporation is a financial services company headquartered in Atlanta, Georgia, United States. The company's STAR Network provides nationwide domestic debit acceptance at more than 2 million retail POS, ATM, and at online outlets for nearly a third of all U.S. debit cards.
Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device such as a smartphone or tablet. Unlike the related internet banking it uses software, usually called an app, provided by the financial institution for the purpose. Mobile banking is usually available on a 24-hour basis. Some financial institutions have restrictions on which accounts may be accessed through mobile banking, as well as a limit on the amount that can be transacted. Mobile banking is dependent on the availability of an internet or data connection to the mobile device.
Gemalto was an international digital security company providing software applications, secure personal devices such as smart cards and tokens, e-wallets and managed services. It was formed in June 2006 by the merger of two companies, Axalto and Gemplus International. Gemalto N.V.'s revenue in 2018 was €2.969 billion.
Network for Electronic Transfers, colloquially known as NETS, is a Singaporean electronic payment service provider. Founded in 1986 by a consortium of local banks, it aims to establish the debit network and drive the adoption of electronic payments in Singapore. It is owned by DBS Bank, OCBC Bank and United Overseas Bank (UOB).
Heartland Payment Systems, Inc. is a U.S.-based payment processing and technology provider. Founded in 1997, Heartland Payment Systems' last headquarters were in Princeton, New Jersey. An acquisition by Global Payments, expected to be worth $3.8 billion or $4.3 billion was finalized on April 25, 2016.
Ingenico is a French merchant services technology company, that facilitates secure electronic transactions. The company expanded as a manufacturer of point of sale (POS) payment terminals to also include complete merchant payment SaaS and related services.
A payment terminal, also known as a point of sale (POS) terminal, credit card machine, card reader, PIN pad, EFTPOS terminal, is a device which interfaces with payment cards to make electronic funds transfers. The terminal typically consists of a secure keypad for entering PIN, a screen, a means of capturing information from payments cards and a network connection to access the payment network for authorization.
Worldpay Group plc was a payment processing company. It was formerly listed on the London Stock Exchange until 16 January 2018 when it was acquired by Vantiv. The combined company then took the name Worldpay, Inc. Worldpay, Inc. was acquired by FIS in July 2019 for $43 billion.
Chase Paymentech is a payment processing and merchant acquiring business of JPMorgan Chase. Paymentech payment platforms supports businesses to process payments. Paymentech authorises payment transactions in more than 130 currencies. In addition to this, the company provides business analytics, payment fraud detection, and data security solutions.
Worldpay, Inc. is an American payment processing company and technology provider. In February 2024, it was separated from Fidelity National Information Services (FIS) to become an independent company once again. It is majority owned by private equity firm GTCR. It is headquartered in the greater Cincinnati, Ohio area. Worldpay, Inc., is the largest U.S. merchant acquirer ranked by general-purpose transaction volume.
Payanywhere is a payments platform and app that allows merchants in the United States to accept credit and debit card payments while building customer relationships in-store, online, or on the go. Merchants may accept payments on their smartphone via a Bluetooth card reader or on an in-store “Storefront” solution featuring a tablet and stand, which was introduced on April 8, 2014. PayAnywhere offers credit card readers and apps that are compatible with both Apple and Android devices.
Zettle by PayPal is a Swedish financial technology company founded by Jacob de Geer and Magnus Nilsson in April 2010. Launching its first app and service in 2011, the company offers a range of financial products including payments, point of sales, funding and partners applications. The company was acquired by PayPal in 2018.
SIA S.p.A. is an Italian company operating in the area of ICT, providing services to the banking and finance sector in addition to platforms for financial markets and e-payment services.
SumUp is a global financial technology company headquartered in London, United Kingdom. SumUp supports more than 3.5 million merchants in over 30 markets worldwide, and operates a product suite of tailor-made business tools created specifically for the micro and nano segment.
Verve International is a Nigerian Pan-African and multinational financial technology and payment card brand owned by Interswitch Group.
Square is a financial services platform by Block, Inc. for small and medium-sized businesses. It enables accepting credit card payments using smartphones as POS registers, and facilitates various business operations. As of 2023, Square reports 4 million merchant clients and an annual payment value of US$210 billion.
Companies based in Greater Johannesburg | |||
|---|---|---|---|
| Diversified conglomerates | |||
| Airlines |
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| Construction and engineering | |||
| Energy | |||
| Financial |
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| Hospitality | |||
| ICT | |||
| Legal | |||
| Manufacturing |
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| Media | |||
| Mining | |||
| Retail and marketing | |||
| Restaurant franchises | |||
| Services | |||
| Transport | |||
| State-owned enterprises | |||
