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Imran Lawan. Chief Executive Officer, SISPAY – Secured Integrated payment System, speaks with IT Edge News.Africa on how their solution, “a hardware device and software fintech platforms that allow smartphones read ATM cards” could alter the operation of cashless transactions for good particularly for small and medium scale enterprises (SMEs).
Tell us about SISPAY
SisPay is a fintech leveraging on hardware and software devices to transform and improve cashless transactions for small and medium scale enterprises (SMEs) in Nigeria. In SISPAY, we have hardware device inbuilt with the autorun fintech software that can allow smartphones to read ATM [automated teller machine] cards. The device will allow users to insert their ATM cards into their smartphones, enabling them to make cashless transactions easily.
How does the solution work on mobile devices?
The solution is developed by our team and we named it SISPAY (secured integrated system payment). It integrates seamlessly with mobile devices. SMEs can use their smartphones to accept digital payments through the SISPAY platform. The accompanying hardware device is a secured alternative to traditional POS for SMEs both in terms of portability and affordability and ensures compatibility with ATM cards, making the payment process user-friendly and efficient for both business owners and customers.
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What are the intimidate impacts
The impacts of SISPAY’s solution are many. It empowers SMEs to transition to cashless transactions. It reduces the risks and complexities associated with handling physical currency and a major part of it is that it prevents the occurrence of No Cash problems happening in the cashless policy era. This shift towards digital payments enhances financial transparency, security, and efficiency for businesses. Additionally, it promotes financial inclusion by enabling more people to participate in the digital economy, ultimately fostering economic growth.
“SMEs can use their smartphones to accept digital payments through the SISPAY platform. The accompanying hardware device is a secured alternative to traditional POS for SMEs.”
How do you plan to grow the value proposition of the solution in the market – seeking for investors, and partners?
In SISPAY, we plan to grow our value proposition in the market through a combination of many strategies. Seeking investment from investors, such as angel investor as we are trying to enter the market, this will provide the necessary capital to refine and scale the solution. Partnerships with financial institutions will also help to expand access and acceptance of digital payments. Marketing efforts and user acquisition will be vital to establishing a strong market presence and driving adoption.
Who are the people behind this?
The people behind this is a Strong Team of SISPAY, our Team comprised group of passionate individuals with expertise in fintech, hardware development, and business development.
