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GITTA is a flagship industry event that promotes and celebrates both public and private sector players within the technology and telecommunication space that are contributing to the growth of the digital economy of Ghana and serving last-mile communities using technology.

The award is in recognition of Global Accelerex’s contribution to Ghana’s cash-lite agenda through e-payments solutions such as RexPay and RexRetail that are enabling merchants to seamlessly accept card and money payments on Point-of-Sale (POS) device and online.

Additionally, the company is contributing to the country’s financial inclusion through its POS implementation and agency banking solutions.

Commenting on the award, Chief Executive Officer and Managing Director of Global Accelerex Ghana, Sebastian Yalley, expressed gratitude for the recognition,  saying “this is a demonstration of our intent in the Ghanaian market and indeed across the entire market we operate in – to be foremost e-payment innovator. This award tell us that we are on the right path and for us, it is an indication to accelerate, to keep people at the centre of our product development to solve real life problems around payments and financial service delivery.”

He also dedicated the award to customers and staff.

The event was attended by heads of companies within the technology, telecommunication, and banking sector. Heads of government agencies and ministries including, The Minister of Communications and Digitalisation, Ursula Owusu was also in attendance as the guest of honour.

Global Accelerex is a Pan-African fintech with operations in Ghana, Nigeria, Kenya, Tanzania and Congo DRC. The company is part of the Accelerex Holdings which has subsidiaries in payment, microfinance, and agency banking.

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The partnership is aimed at driving digital and electronic payments, and forms part of the Ghana Food Festival campaign – the first of its kind – which allows all Mastercard holders to dine and wine at some of the biggest and best restaurants and bars in Ghana at discounted prices.

The food and hospitality sector has been affected greatly by the COVID-19 pandemic due to public fear and government’s directive for all restaurants to be closed to aid efforts at fighting the spread of the virus.

However, as the ban on public gathering begins to ease, it has become important to find ways to catalyse business growth in the sector to ensure sustainability. Both Mastercard and Accelerex Ghana are using this campaign as a tool to steer patronage to ensure the sector is back on its feet whiles promoting the use of digital and electronic payments.

As part of the month-long campaign, which runs from 11^th of September – 11^th October 2021, Mastercard holders will be given 5 percent discount off all items patronised at 12 selected restaurants in the country. This discount is not limited to fine dining; casual dining and pizza outlets are also not left out.

Commenting on their participation in the campaign, Naeem Fakeeh, Manager of Li Beirut, a restaurant that offers the best experience in oriental sea food uniquely made with a touch of Lebanese taste, expressed excitement, and noted that the campaign is timely after a long break in business.

For Mastercard, this campaign is also a way of rewarding its existing users and encouraging prospective ones to sign up by engaging a passion point which is the art of dining.

The company is providing one month radio and online advertisement as well as branded merchandise for the participating restaurants to help boost their visibility in the market.

The Chief Executive Officer and Managing Director of Global Accelerex Ghana, Sebastian Yallley, noted that “as one of the leading fintech’s in the country, we are obliged to develop innovative products that will democratise access to bespoke digital and electronic payment solutions for businesses of all sizes both locally and internationally.

That is why we are providing these restaurants with our RexRetail solution to enable them accept payments from all the card schemes including Mastercard and mobile money from all operators. We believe it will contribute immensely towards the cash-lite agenda of Ghana.”

The government through the Ghana Interbank Payment and Settlement System, (GhIPSS) has been aggressively promoting the cash-lite agenda and the partnership between Mastercard and Global Accerelex Ghana is further expected to consolidate the government digitalisation and electronic payment efforts.

Participating restaurants and bars include The Last Stop Over, Massai Lounge, Meet and Eat, Crisberry Bar and Restaurant, Kings Food Court, Obulebu Premier Foods, Gladena Food Joint, Hoxton Food Court, Simret Ethiopian Restaurant, T-Havana, The Breakfast Bar and Li Beirut.

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Global Accelerex Limited, a subsidiary of Accelerex Holdings Mauritius (Accelerex) has been assigned A- (stable outlook) credit rating by Agusto & Co and A2NG (short term, stable outlook) credit rating by Global Credit Ratings (GCR).

In its ratings announcement, Agusto & Co noted that the assigned ratings reflect Global Accelerex’s good financial condition evidenced by good profitability, good cash flow, satisfactory working capital, and low leverage. Agusto & Co also took into cognisance the company’s qualified and experienced management team, market leadership position in the payments space and in the fintech industry in Nigeria.

GCR, in its ratings announcement, opined that the ratings reflect the company’s relatively strong credit risk profile, strong alliance with financial institutions and other industry players, as well as technical support from its main supplier.

Accelerex is a leading fintech player in Africa with operations in Nigeria, Ghana and Kenya. Its Ghanaian subsidiary, Accelerex Ghana, recently obtained an enhanced Payment Service Provider licence from the Bank of Ghana and ISO 27001 certification.

The strategic decision to invest in the development of a suite of fintech products and solutions that facilitate payments and improve business processes not only positioned Global Accelerex for financial success during the lockdown but also provided its customers with an array of e-payment options. RexPay, its online payment gateway, helps e-commerce companies and other corporations receive online payments in a fast, convenient, and secure manner. This product provided businesses with a critical competitive advantage during the restriction of movement created by the COVID-19 crisis. In a similar vein, retail business owners enjoyed seamless inventory management, accurate accounting, and reconciliation with RexRetail, an all-in-one retail automation solution.

Commenting on the credit rating, Tunde Ogungbade, Group CEO of Accelerex stated that “the investment grade ratings by the two foremost African ratings agencies is a testament to the resilience of our business model, the strength of our balance sheet and the unwavering support of our partner banks, merchants, agents, suppliers and shareholders. I am proud of this positive development despite the pandemic that characterised the period under review. GCR’s acknowledgement that Global Accelerex earned this credit rating as a result of our very strong revenue progression over the review period, supported by ongoing business expansion, and solid gross margin, is cheery news”.

Accelerex has consistently delivered financial technology solutions that help organisations and individuals across sub-Saharan Africa to accelerate their business processes to ensure maximum efficiency and profitability.  The fintech giant is renowned for its pedigree in innovation, world-class technology, excellent customer service and a commitment to provide e-payment solutions that evolve with customers’ needs. Visit www.globalaccelerex.com or www.globalaccelerex.com.gh for more information.

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The licence permits Global Accelerex to offer POS devices and applications agency banking platforms, merchant payment collections, terminal management systems, and terminal aggregator management systems. Through product innovation and impeccable attention to customer needs, the company is gradually emerging as the financial technology company to watch in the Ghanaian market over the coming years.

A subsidiary of the Accelerex Holdings Group, which has footprints in Nigeria and Kenya, Global Accelerex Ghana commenced operations in the country in 2019; and after fulfilling all regulatory requirements, the BoG has awarded it an enhanced PSP licence.

The group recently secured a US$20million investment from Africa Capital Alliance to expand into South Africa, Cote d’Ivoire, and Tanzania.

Prior to approval from the central bank, Global Accelerex Ghana was granted the ISO 27001:2013 and PCI-DSS certifications. This currently makes the company the only fintech within the enhanced PSP category that provides Point-of-Sale terminals, merchant acquiring, and agency banking solutions in Ghana.

Speaking on the achievements, Chief Executive Officer and Managing Director of Global Accelerex Ghana Limited, Sebastian Yalley, noted that: “The delivery of superior payment solutions must be backed by the necessary regulatory compliance to protect consumers”.

He further noted that at Global Accelerex Ghana, standardisation and compliance “remain the bedrock of our operations across all our subsidiaries in Africa: We believe that having this licence is a demonstration of our commitment to the Ghanaian market, and serves as the foundation for rolling out simple, secured, and convenient payment solutions for all customer segments. We intend to use this as a leverage to deepen our existing relationships with our bank clients. In that same spirit of collaboration, we are open to working with other fintech companies to deliver superior value for the Ghanaian market”.

To increase its footprint in the country, the company is planning to – in the second quarter of 2021 – roll out two new products targetted at micro, small, and medium enterprises in the retail and services sector.

They comprise RexRetail and RexPay – products built with entrepreneurs in mind. These products have business management features which give entrepreneurs the power to do more than just accept payments, the company said.

“With these certifications and experience, Global Accelerex Ghana is poised to drive the Fintech market by providing payment solutions to individuals and businesses across different channels and verticals,” the CEO added

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Accelerex Holdings, Mauritius (“Accelerex”), today announced that it has signed an investment agreement with regional private equity firm, Africa Capital Alliance (“ACA”), for the Capital Alliance Private Equity IV (CAPE IV) fund to invest $20 million in Accelerex. With this investment, CAPE IV will become a strategic partner in Accelerex and will hold three seats on the company’s board.

Accelerex, which is the parent Company of African Fintech powerhouse, Global Accelerex Limited, was set up for investment into digital financial technology companies across Africa.

Global Accelerex was incorporated in 2008 and commenced payments services operation in October 2013 upon obtaining approval from the Central Bank of Nigeria (CBN). The company consistently ranked as the Number 1 Payment Terminal Service Provider in Nigeria in 2018 and 2019 and supports 95% of Nigerian banks and over 90,000 Merchants across the 36 states in the country.

Accelerex commenced operations in Ghana in 2019 and plans to expand into Cote d’Ivoire, Kenya, Tanzania and South Africa over the next 24 months with the new investment from ACA. This funding will also drive new product development across the group.

The agency banking subsidiary of Accelerex, Accelerex Network Limited (ANL) is a major driver of financial inclusion in Nigeria. It supports the Federal Government of Nigeria and the CBN’s financial inclusion agenda, targeted at the underserved and unserved segments of the population. Accelerex Network Limited has grown its Agent network to over 9,000 agents within the last 12 months and plans to reach 40,000 agents by the end of 2021.

In addition, Accelerex also acquired a majority stake in SLS Microfinance Bank to serve the financial needs of its fast-growing agent banking business.

In 2019, Accelerex acquired a significant minority stake in Connected Analytics (also known as ThankUCash), a Fintech platform provider that enables merchants offer loyalty rewards to their customers thereby boosting their sales.

Commenting on the ACA investment, Tunde Ogungbade, CEO of Global Accelerex, said; “I am very excited by the ACA investment. In our quest for the right investment and strategic partner, we were looking for a company that shares our vision to empower businesses in Sub-Saharan Africa to exceed all their customers’ payment expectations. This partnership will help Accelerex to aggressively expand into Africa and accelerate product development. I see our vision becoming a reality with this move”.

Paul Kokoricha, Partner at ACA, stated that with the huge potential of Fintechs in Africa, good funding and strong expertise are crucial to scalability. He added that “Accelerex’s strong business model and its agile and dynamic management team makes it the ideal African Fintech group to back. We are thrilled about this alliance and are happy to bring our experience to the board”.

Accelerex Holdings continuously develops and deploys convenient, secure and innovative financial and non-financial solutions that make life easier.

ACA is a leading pan-African investment firm, sponsoring funds and managing investments in Sub-Saharan Africa. Founded in 1997, ACA has an over 23-year history of investing across multiple market cycles, through five private equity and real estate funds. Its international structure and strong local expertise enable it to raise funds from investors across the globe for investment in specific sectors in Sub-Saharan Africa. CAPE IV is a $567m fund established by ACA to invest in companies with strong fundamentals and a growth track record in the financial services; technology, media and telecoms; FMCG; energy and various emerging sectors in West Africa.

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Bringing it down to business, every entrepreneur knows that the lifeblood of business operations is receiving payments from customers. After all, the purpose of doing business is to make money, right? If customers find it difficult to pay you for goods and services, they could as well go elsewhere, especially in 2020 when the ease of doing business has become a fad.

Given the fact that the Nigerian digital payment space seems to be saturated, the natural assumption would be that customers do not have fresh e-payment needs. When you hear about all the popular names in the fintech space, the likelihood is to think they are actually the biggest and most effective.

I used to think the same way too until I discovered Global Accelerex.

It was the late American historian, Daniel J. Boorstin, that once said, “the greatest obstacle to discovery is not ignorance – it is the illusion of knowledge.” I was caught in that trap till I decided to have a detailed audit of my business. I decided to question everything I knew about all aspects of my small operations, as that was the only way to scale it.

To be honest, I was not actually looking out for a magic wand when I came across Global Accelerex. I just wanted to inject new possibilities into my business. And then, when I got to know about the company, my interest was piqued, and I decided to dig deeper.

After some weeks of nosing around and experimenting with its platforms and products, I came up with my findings.

You must have heard that expression about something being the best kept secret in an industry. Well, let’s just say that this was what I found out about Global Accelerex.

I was shocked to discover that some of the groundbreaking technological advancements in the fintech industry were actually developed by the fintech company. Some of them are branded with their name while some others were custom-made for clients.

Global Accelerex is a brand that has been trusted consistently for years by over 90,000 merchants. The company’s suite of products and services comprises flexible e-payment solutions, including its recently launched Payment Gateway, Retail Payments, Agency Banking and much more. As the company’s latest convert, since I started using its payment products, it has become much easier to receive payments from my customers, compared to the past.

A pan-African organization with a wide reach across Nigeria, Ghana and Kenya, the company has a passion for solving real business problems, thereby empowering businesses to grow. If anyone should be in a better position to talk about this, I am. Thanks to Global Accelerex, I was able to organize my operations better and also manage my inventory without stress. This helped to scale my business, as I could easily determine my reorder level without running out of stock.

Owing to its avowed commitment to sterling customer support, Global Accelerex also provides unrivalled customer service to its teeming merchants and partners through its Service Centre Representatives. From the information available to me, it was one of the first companies in the fintech industry to establish a Service Center because of the premium it places on customer satisfaction. This is in addition to its Field Response Teams spread across its seven regional offices in Nigeria that are always on standby to assist customers.

My business benefited greatly from this. In the early days when I needed handholding, its Service Centre Representatives were always available on the phone to walk me through any process. At some point, a member of its Field Response Team showed up at my office to follow up on a request I sent on the support email address. I found all of them to be very courteous and empathetic.

What’s more? For a company that has processed transactions in excess of N2 trillion, there is no doubt that it is a very reliable alternative to the many disappointing experiences merchants and retailers face while trying to receive payments. This effort has not gone unnoticed. In recognition of its exceptional performance in the Nigerian e-payment ecosystem, the Central Bank of Nigeria bestowed on Global Accelerex the Cashless Driver Award in 2019.

Other accolades include Innovation in Financial Inclusion Award, 2019; Customer-Focused ICT Company of the Year, 2019; Payment Terminal Service Provider (PTSP) of the Year and Payment Solutions Service Provider (PSSP) Awards in 2017, 2018 and 2019; and Fintech Company of the Year in 2017, 2018 and 2019.

According to Latin Canonical Poet, Ovid, “the cause is hidden but the effect is visible to all.” If you have ever used a digital payment platform in Nigeria, there is every chance that a part of it was enabled by the innovative thinking at Global Accelerex. The company might have chosen to build in silence all this while, but everyone sees the results of its solution-driven products.

And just like the former me, if you are currently trapped in that illusion of knowledge that makes you believe some of the most popular fintech companies you hear about every day are the most innovative and reliable, you might want to come on a journey of discovery with me.

Arit Odoh,

MD/CEO, Arytgrins Int’l

Source:

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The Chief Executive of UMB, Mr. Benjamin Amenumey stressed on the Bank’s commitment to its SME customers who have been hard hit by the novel coronavirus, with the decision to offer financial and non-financial support including free business advisory services, extension of loan moratoriums and several other interventions.

He added that the SME Webinar is one of many initiatives the Bank has implemented to continuously engage and gain deeper understanding into customers’ needs and challenges and to improve service delivery, tailor-make products and services specific to the needs of customers, especially in these uncertain times.

In her submission, UMB Director for SME Banking, Madam Charlotte Lily Baidoo, emphasized the need for owners of SMEs to consider managing their finances prudently by allowing for the right amount of balance between risk and profit maximization, thereby ensuring business continuity for posterity.

Speaking on the topic “Harnessing Tech Innovations:  a Catalyst for SME Growth”, Sebastian Yalley, the CEO of Global Accelerex Ghana advised participants to embrace new and emerging technology in the service they render to their customers. Finally, presenting on the topic “The Opportunities Presented by Social Media for SMEs”, Faustina Yaa Appiah, of the Marketing and Communications Department of the Bank, also stressed on the need for SMEs to seize the many exciting opportunities on social media to build and grow their brands, reach new markets and ultimately drive sales to dovetail into business profitability.

At the end of the maiden UMB SME Webinar, participants expressed their profound gratitude for the timely nature of the session and for the continuous commitment, UMB demonstrates to its customers.

Source: B&FT

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To address the inconvenience of cash payment on Uber rides and provide comfort to passengers who do not want to enter their card details online, Moove has integrated its payment platform to Global Accelerex’s N3 Android PoS device, an advancement in e-payment technology. This will make it convenient for passengers to pay for their Uber rides via the PoS terminals deployed in all Moove cars.

The portable and stylish N3 PoS terminal outperforms the competition with unique features that make it the preferred choice for businesses that value-efficient operations. It comes loaded with multiple payment options which enables bank card, mobile and QR payments; long-lasting battery, ideal for drivers on the go; exceptional security that guarantees peace of mind; faster operating experience with android 5.X; and dual camera. It is also 4G, Wi-Fi & Bluetooth-enabled, making it the perfect payment device for the 21st century transportation business.

Speaking about this strategic alliance, the Executive Director, Business Development and Operations of Global Accelerex, Mr. Kayode Ariyo, stated that it is a union of two market leaders in the technology-driven business space constantly seeking to make life easier for consumers.

“We are thrilled to partner with Moove to offer the revolutionary N3 device for deployment in their cars to make payment simple and safer for passengers. I am particularly glad about the fact that it reduces the restriction on payment options as passengers can now pay with their cards while on the move, and not just at stationary locations. This is an exciting development for our company because it underscores our commitment to promote a cashless system and aligns with our objective to make e-payment accessible to Nigerians,” Mr. Ariyo said.

According to him, Global Accelerex was the first to introduce the first single unit android point of sale terminal to be certified for payment acceptance in Nigeria – the N5. Moove is also the first company in Nigeria to provide fleet services for Uber transportation. Its modern cars create a comfortable riding experience for end users, giving them the best value for their money.

Mr. Ladi Delano, Managing Partner of Grace Lake Partners and Co-founder of Moove, said: “At Moove, our focus is democratizing car ownership for drivers whilst providing the best option for riders to move from point A to point B. We utilize hardware and software to ensure security, safety, comfort and convenience in every vehicle, and the PoS terminals provided by Global Accelerex are in line with this commitment by ensuring that payments are more secure, seamless and convenient than ever before”.

When asked about the company’s capacity to provide after-sales support to customers, Mr. Ariyo revealed that Global Accelerex’s Service Centre, a world-class facility that offers fast and effective support to customers, is equipped to deliver exceptional service to end users.

“This is an intersection of comfort and convenience. As riders enjoy the comfort of Moove cars, they will also enjoy the convenience and ease of payment that Global Accelerex PoS terminals provide. This initiative is part of our drive to digitize payment collections and create a sustainable payment landscape,” Mr. Ariyo added.

Global Accelerex has consistently delivered financial technology solutions that help organizations and individuals in Nigeria and sub-Saharan Africa accelerate their business processes to ensure maximum efficiency and profitability.  The Company was recognized for its passion for financial inclusion and a cashless economy by the Central Bank of Nigeria last year when it was awarded “Cashless Driver: Point of Sale Transactions (PTSP)” after it achieved the highest volume of transactions on PoS terminals managed on behalf of Nigerian banks in 2018. It has in its stable a multitude of compact and affordable PoS devices ideal for varying business requirements including the N5 smart terminal, compact G2 and all-purpose G3 device.

The fintech giant is renowned for its pedigree in cutting-edge technology, excellent customer service and a commitment to provide e-payment solutions that evolve with customers’ needs. Visit www.globalaccelerex.com for more information.

Moove is a subsidiary of Grace Lake Partners (GLP). Like all GLP companies, Moove was founded on the principle of Creating Shared Value in Africa by providing solutions to socio-economic challenges whilst building a viable business.

Moove seeks to solve three challenges: providing flexible employment by democratizing car ownership; providing convenient and accessible car ownership; and supporting social mobility by significantly improving the quality of cars available to riders on the Uber platform across Africa. Learn more at: https://www.moove.africa/ and www.grace-lake.com 

SOURCE: RegTech Africa

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“COVID-19, as devastating as it has been, also opened new possibilities for digital innovations especially in financial service delivery. Financial service providers that will stay ahead of the competition in the post COVID-19 era are the ones that will reimagine their products to solve real problems digitally.

As a financial technology company with expertise and experience across Africa, we bring to the Ghanaian market, a commitment to support financial service providers innovate their service delivery processes to delight their customers. Talk to us first if you need payment or collection solutions,” says Sebastian Yalley, Chief Executive Officer of Accelerex Ghana.

Although Accelerex is not immune to the wider impact of the Coronavirus pandemic particularly on the economy, as a financial technology player, we see opportunities to innovate, increase demand for alternative channels from end-users, increase in demand for digital solutions from service providers and to diversify our product mix to meet demand in the face of the crisis.

Who we are

Global Accelerex is a financial technology company operating in Ghana, Nigeria, and now expanding to Kenya with a holding group in Mauritius. We are a leading Payment Terminal Services Providers and Payments Solutions & Services Provider. We achieved this feat by being client-focused, agile, and innovation driven. Our product specialisation is in POS devices and software – web-based and POS based – to meet the payment and collection needs of our clients.

We are an accredited supplier of NEXGO brand of Android and Linux POS devices. The devices are certified with PCIDSS, PBOC, UPTS, and major international and local card schemes.  Our decade long experience in POS implementation and deployment across Africa makes us a partner of choice with deep insight and innovation in the market. We bring cost effectiveness, agility, excellent customer services, and a commitment to the payment and collection strategy of our clients. We have a proven track record of working with large, medium, and small financial institutions with highly flexible partnership options.

Our products and services

Aside our POS solutions, we offer the following products;

POS Value Added Services (POSVAS)

POSVAS is solution that is implemented on the POS of merchants to provide convenience of payment, stock management, customer loyalty, analytics, and 24/7 merchant support. We have an acceptance device neutral wired or wireless integration solution for retail business systems to eliminate errors due to cashier typos, reduce cashier theft and other fraud possibilities, and creates stickiness to POS device. This solution is perfect for any financial institutions that want to stay ahead of the competition in merchant acquiring and also improve POS usage.

 Agent Network Platform (ANP)

ANP is a web-based portal that seeks to address the financial inclusion problem by integrating with different payment channels as POS, Mobile, Web and others to enable simple financial operations such as cash withdrawals, cash deposits, fund transfers, bill payment, loan provisioning and other related financial services.

Accelerex Collection Platform (ACP)

ACP is a web-based platform which streamlines the digital payment collection processes of various revenue collecting organizations such as Ministries, MMDAs, utility companies, universities etc. It provides quick fix for regulating the transparency, optimal allocation, utilization and movement of financial resources within these organizations. Payment collection for ACP is done through POS, Web, Agents, and other channels to enable financial operations such as payment of fees, tariffs, and duties. This solution can be integrated seamlessly to the company’s accounting system. It is designed to be flexible and accommodating to business requirements and delivery models.

Terminal Aggregator Management System

This is a robust system that helps banks manage the activities of their POS terminals and merchants. It provides technical and operational standardisation, key management, interoperability, and aggregation of all connected terminals that support POS Interface Specification ISO8583. This solution is perfect for banks that want to deploy new POS device but are worried about their existing legacy POS devices as it provides a single platform for management. It is also perfect for switching transactions on POS devices deployed across merchant locations. This solution can be connected directly to Third-Party Processors (TPPs) and is suitable for financial institutions without their own switch.

How we can help grow your business?

As a tried and tested fintech with experience working on the continent over the past decades, we are well-positioned to proffer e-payment and technological solutions to problems faced by companies in wide range of sectors of the Ghanaian economy.  To date, banks and financial institutions remain our major clients and partners, although we have expertise in developing bespoke e-payment solutions for players in the real estate, hospitality, telecommunications, manufacturing, and retail sectors, among others. We work with both local and multinational institutions and we have a demonstrable track record across Africa.

We also work closely with partners to create client specific solutions that meet their peculiar needs.

SOURCE: B&FT Online

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