payD, the e-payment platform of mobile-centric company, Oltio - a joint venture between Standard Bank and MTN - has been nominated as the Best Mobile Money Innovation in the annual GSMA Global Mobile Awards.
According to Oltio, payD, which was unveiled last year, removes a significant obstacle to the mainstream adoption of e-commerce in SA by transforming a user's mobile phone into a remote point-of-sale (POS) device.
The technology is also used by Oltio parent company, MTN, for its Eazi Recharge prepaid airtime top-up service, which has more than 110 000 users.
More than 170 independent analysts, journalists, academics and subject matter experts from all over the world judge the GSMA Global Mobile Awards.
Oltio's head of new business development, Dave Parratt, says: “Just being nominated is an honour for us. It is recognition that our commitment to innovation and, in particular, making e-commerce accessible to more South Africans, is paying off.
“We believe that payD has the ability to fundamentally change how consumers conduct online transactions, and the more than 170 merchants who are already working with us using this platform agree.”
Sugendhree Reddy, Standard Bank's director of banking products, says: “As a result of the innovative technology offered by payD, more Standard Bank customers across the country are now able to transact online.
“Credit cards have become ubiquitous with online purchases. The problem with this is that the convenience and safety that online purchases offer have been confined to higher-income customers who have access to online payment facilities.”
Reddy explains that this has left many consumers out of the online transacting and purchasing loop, adding that students, vendors and casual workers, for instance, have the financial means and tools to make online purchases, but have been excluded from this fast growing technology, as they do not have access to a credit card.
“Those with debit cards are now included by making use of payD. They are able to transact by simply entering their PIN securely on their handsets,” Reddy says.
“Reflecting the intensity of competition and innovation across the mobile ecosystem, we saw a record 600 entries and an exceptionally high quality field of contenders vying for this year's Global Mobile Awards,” says Michael O'Hara, chief marketing officer, GSMA.
“It is a significant achievement to have made the shortlist, and our warmest congratulations go to all the nominees announced today. We look forward to the unveiling of the winners at the Mobile World Congress next month.”
The other finalists are Banglalink and Comviva for Banglalink MobileCash; Etisalat, MasterCard and Oberthur Technologies for Etisalat Commerce; KT for olleh myWallet; SK telecom for NFC-Embedded USIM Card; and Turkcell for Turkcell CepT Cuzdan.
The winners will be announced on 28 February.
Share