INTELLIGENT BRANDS // Mobile Technology
PAYM8 expands e-commerce payment portfolio leveraging intelligent AXIS SaaS platform
in-store or at a collection point ,” notes Springate . “ These should not be separate experiences , but an integrated , unified one . This kind of approach will enable brands to differentiate and capture market share .”
Andrew Springate , CEO PAYM8
Technology and financial gateway service provider PAYM8 , announced expansion of its e-commerce offering . This comes in response to the South African e-commerce market ’ s projected growth of 11.89 % in the next five years , reaching a market volume of US $ 9.97 billion , roughly R75 billion , by 2027 .
As consumers increasingly value the convenience , time savings , and discounts offered by online shopping , businesses can also reap benefits such as overhead savings , data insights , and an expanded customer base . Recognising this demand , PAYM8 ’ s enhanced solution facilitates a streamlined and secure payment process , catering to a wide range of sectors , including online retail , finance , insurance , and more .
“ Consumers are seeking the utmost convenience in this digital era , and their journey often begins in the e-commerce space ,” said PAYM8 CEO Andrew Springate . “ Businesses looking to grow and acquire new customers must ensure they are meeting consumers in this digital space as effortlessly as they would in a physical store .”
PAYM8 ’ s e-commerce solution currently includes a product set featuring both VISA and MasterCard Debit and Credit cards , EFT Debit solutions and Instant EFT with partners such as FNB ’ s PAYSHAP and CapitecPay . Underpinned by an intelligent SaaS platform it offers merchants a single integration to a whole boutique of e-commerce payment products .
Through the use of user-friendly API calls , merchants can seamlessly integrate the e-commerce functionality into their solutions . Using a secure redirect methodology ensures access to quick and efficient transactions across a wide variety of use cases , from immediate online payments to recurring subscriptions .
“ Consumers today might start their shopping journey online , make an initial deposit , and then choose to complete the transaction
Merchants also gain from the benefits of instant payments including instantaneous settlement , irrevocability and simple initiation all to higher payment successes . The ability to utilise an embedded hyperlink in an invoice and , or messages can also assist with initiating payments . All these e-commerce options and solutions present a low-friction integration path for merchants . These are especially beneficial to those wanting to avoid capturing card details on their web pages due to PCI-DSS restrictions . Card tokenisation is an added feature enhancing security in card payments .
In addition , PAYM8 ’ s e-commerce solution interfaces into WordPress and WooCommerce plug-ins . Its AI and M2M learning-based AXIS platform is hosted in a secure environment , safeguarding both the platform and merchant data .
“ Embedding payments into the core offering facilitates a low-friction experience for retailers ,” said Springate . “ With the right partner , payments become a byproduct , allowing businesses to focus on delighting their customers . The more integrated the proposition , the more successful the offering .”
PAYM8 ’ s focus is providing a whole host of payment products , services , and solutions to merchants . It enables them to accept payments via various payment options , e-commerce , mobile payments , card transactions , EFT , underpinned by its Intelligent Platform AXIS . p
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