OREM, Utah (PRWEB) March 09, 2020
Nexio, a payment hub, has recently announced that they have an enhanced integration that allows merchants to accept customer credit card payments in the South African Rand, as well as settle those transactions in the same currency. Nexio can currently process payments in 136 currencies and adding this latest integration to South Africa provides another currency for payment processing.
The South African financial services sector is changing to modernize its payments landscape to be more efficient and flexible. The industry has recognized the need to change to meet user demands, adopt new technology, and become less cash reliant. Card usage increased from 45% of retail volumes in 2010 to 56% in 2016. Debit transactions increased from 33 million in 2007 to 212 million in 2018. These trends indicated that consumers want more payment options. South Africa can evolve its payment structure to allow for more affordable, open, safe, reliable and trusted payment providers. Nexio is pleased to be working with one such payment provider.
Based in Orem, Utah, USA, Nexio is a highly advanced, extremely dependable payment hub. The main payment engine is a modular and scalable platform that enables integrated payment solutions to be deployed in domestic and international markets. This is accomplished by successfully decreasing fraud, securing multiple transaction types, leveraging tokenization solutions and properly managing PCI and EMV compliance. Nexio integrates with solution providers in specific vertical markets.
The payment hub was built with a modern technology stack in a modular and agile form so that it can integrate with legacy technologies as well as accommodate newer solutions that extend to the marketplace in innovative ways. The dashboard’s ease of use and configurability quickly give CFO’s and other business managers information they can act on to manage and change the business metrics and trends needing attention.