VeriFone Holdings has signed agreements with transaction switching and electronic payment companies, Ferlo and Byte Tech, for distribution of VeriFone payment systems throughout the UEMOA as well as Cameroon.
VeriFone’s GPRS-enabled Vx 510, Vx 610 and Vx 670 payment systems will be rolled out region wide to members of the Centre De Traitement Monetique Interbancaire (CTMI), the regional inter-banking switch center of the Western Africa Economic and Monetary Community, and their merchant customers.
The Union Economique et Monetaire Ouest Africaine (UEMOA) countries of Senegal, Ivory Coast, Togo, Benin, Niger, Mali, Burkina Faso, and Guinea Bissau, have had a common currency in place since before the introduction of the euro in Europe and more than 70 banks now fall under the umbrella of CTMI.
VeriFone’s NURIT ATM is already deployed in Senegal by the microfinance payment system run by Ferlo.
Mark O’Flynn, sales director at VeriFone for Middle East and Africa, said: VeriFone’s advanced GPRS technology payment systems are especially suited to West Africa’s developing payments markets, where a constant online communication channel between the merchant and financial institution is the key to fast and secure transactions.