The payment platform dubbed ‘CyberSource’ introduced in partnership with Visa is different from the existing digital payment methods. It offers several features like invoicing (payment links), secure acceptance, direct API integration and payments tokenization.
CyberSource offers a much-needed payment solution to businesses in key sectors that include hospitality, tourism & e-commerce. CyberSource is also suitable for payment aggregators and service providers who receive payments through their websites and / or apps.
The platform gives users different payment options in currencies of their choice, making payments with Debit Card, Credit Card and soon, Mobile Money wallets will be integrated.
Jean Jacques Kajuga, the Head of Payments & Digital Channels at Equity Bank Rwanda PLC has said that the new platform will contribute to efforts aimed at driving Rwandans into cashless transactions.
“COVID-19 has presented unprecedented challenges requiring businesses to opt for technology. Besides, clients’ mindsets have changed. Many people prefer to make payments electronically as the Government expends much effort to embrace cashless transactions. It is against this backdrop that Equity Bank always strives to become the most preferred financial institution among Rwandans,” he said.
“We have maintained the lead in digital financial services. By introducing the Cyber Source platform, we want to make our services more efficient for all clients. It is simple and reliable and helps users to monitor business transactions,” Kajuga added.
The E-Commerce Manager at Equity Bank Rwanda, Patrick Gakuba has said that the new payment method is reliable and accessed through websites of merchants interested to use the technology. Businesses using Cyber Source can receive payments from anywhere across the world.
The Permanent Secretary at the Ministry of ICT and Innovation, Yves Iradukunda has said that technology continues to take center stage for the development of Rwanda particularly in business transactions and urged members of the private sector to contribute to this case.
The Country Manager of Visa in Rwanda, Salma Ingabire has observed that making electronic payments is the only reliable payment method for clients.
“Regarding investment, it tackles challenges arising from the circulation of money, reduces pressure of customers expressing lamentations for prices, increases customers and sells merchandise,” she said.
Ingabire went on to explain that shopping online has become popular among clients where online payments and e-commerce are expected to promote investment along the journey towards economic recovery.
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