-with risk control software specifically developed for
the African market
Nairobi- Cost, technological complexity, control
and lack of education are the major issues facing the growth of internet
payment services in Kenya. This is the position taken by Bardo Group, a new
entrant in the online payment arena. Operating in the country since January
2014, the company whose head office is in Mauritius is also incorporated in
Hong Kong, Panama and UK.
“We chose Kenya as our first location within the region due
to the fact that it was the first country in East Africa to have an ecommerce
acquiring bank and the best offering in terms of e-commerce transaction
processing” said Bardo CEO Laurent Alonzo who brings over 18 years experience
in the industry. “Internet penetration in the country is impressive with over
19 million local users as well as a growing middle class who have greater
access to debit and credit cards as well as higher purchasing power and are
looking for convenience in their day to day operations. Further, the
government, banks and local companies are also encouraging people to embrace
cashless transactions through use of cards as well as online payment services;
we therefore see great potential for Bardo in Kenya and indeed the region”
With an increasing number of transactions over the
internet in Africa, Bardo Group has specifically developed a Risk Control
Software for the African market which promises the highest level of security
for internet payment users due to its back-office support which provides
reporting and online tracking of any payments thereby eliminating the
possibility of fraudulent or unsafe transactions. To further enhance security,
all accounts have their own unique descriptor to easily recognize the merchant
which eliminates the need for verification procedures making transactions
faster and safer.
“A major challenge we have realised is that online
payment is still regarded with a lot of suspicion as most people do not
understand the process. Further, customers need to be protected from unsafe
transactions which could lead to a loss of their money. We would therefore call
for tighter regulatory controls to ensure that companies offering the service
acquire PCIDSS (Payment Card Industry Data Security Standard); the recommended
and highest security standard in the world in online payment which was
developed by the world’s largest credit and debit card providers including VISA
and MasterCard. Within the region, we are the only company with this level of
certification and are audited on an annual basis to ensure compliance”
concluded Mr Alonzo.
Currently, Bardo has partnered with Visa and Mastercard and
are in negotiations with other card brands.
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