The SWAP solution is built on sound principles
The cellphone is a valuable payment channel because of its accessibility, mobility and unparalleled security benefits. SWAP applies the same advanced technology in its payment environment as the cellular networks use for voice calls.
SWAP’s business model is designed to facilitate the implementation of a comprehensive fully-rounded transactional service to both merchants and customers, and is geared to provide effective, ongoing support to both.
Sufficient capacity is included as a pivotal enabler to develop unique mobile strategies for businesses by leveraging the existing payment system.
SWAP uses USSD communications protocol, which broadens its appeal due to its availability to all South African cellphones, thereby promoting a high degree of product take-up. Additionally, USSD forms an important part of system integrity – an essential part of regulatory compliance.
The business model represents a global solution suitable for implementation in any market with GSM networks.
SWAP is registered with the SA Third Party Payers Association, the Payment Association of SA (PASA), the Wireless Application Service Providers Association (WASPA), and adheres to the safety and security regulations for electronic payments as set out by the South African Reserve Bank.
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