Payment24, the global payments platform provider specializing in payment and loyalty solutions, has launched a ground-breaking all-encompassing financial payments product – Payment24 Cloud Switch.
Industry sources added that this revolutionary cloud-based payment solution expertly serves the unique needs of acquiring banks, fuel retailers, merchants, and retailers, and dramatically decreases the time to market for businesses wanting to upgrade their transaction switching systems.
Cloud Switch is a fully integrated, versatile, hardware-less payment switch that supports a myriad of payment methods. It combines cloud technology, various payment methods, robust POS compatibility, and a suite of value-added services to deliver an all-inclusive transaction environment.
Industry sources added that for firms looking for a one-stop-shop solution, Payment24 is also offering customers the option to purchase the Cloud Switch transaction switching platform, POS Terminals, TMS, and Field Service Support components directly from them.
“Cloud Switch embodies our dedication to transforming the payment ecosystem. This solution empowers acquiring banks and fuel retailers to easily manage complex payments, harnessing the cloud’s power for unmatched scalability and reliability,” says Shadab Rahil, Joint CEO at Payment24.
Mr. Rahil adds “Ultimately Cloud Switch was developed to cater to a global market but developed with the localization capabilities required to adapt it to every region it is deployed in. We believe it marks a significant stride in financial technology, bringing versatile payment methods, seamless transaction flows, and vital real-time monitoring capabilities into our clients’ hands. Our goal is to simplify, streamline, and secure the payment processes, and Cloud Switch is a testament to that mission.”
“With an established history of industry-leading innovation, Payment24 continues to redefine payment solutions. Cloud Switch embodies this ethos of transformation and progress,” Nolan Daniel, Joint CEO at Payment 24.
Mr. Daniel adds further stating “We understand the intricacies of the payment landscape and strive to make it more efficient, seamless, and user-friendly for businesses. Our comprehensive Cloud Switch solution goes beyond merely processing payments; it’s a powerful tool that empowers businesses to stay ahead of the curve, increase profitability, and deliver an unmatched customer experience. As we move into the future, we believe we are setting new standards in the payment industry with the launch of Cloud Switch.”
According to Payment24, the time to market to change a transaction switching platform is usually an arduous and painful exercise for retailers and banks. With Cloud Switch’s unique architecture and multitude of existing integrations, the time required to migrate can be decreased significantly.
Key features of the new solution include cloud-based infrastructure hosted on Microsoft Azure, no need for additional hardware, support for multi-faceted payment methods, and an inclusive merchant portal for comprehensive transaction monitoring.
Fuel retailers can expect a multitude of benefits such as multi-bank acquiring, compatibility with popular forecourt controllers and POS terminals, and value-added services like support for their Loyalty and Rewards, Click n Collect, Vouchering, and Coupon offerings. Additionally, Payment24 Cloud Switch also enables the acceptance of Mobile Money a growing need in emerging markets globally.
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