Home Business Onafriq partners with VGS to strengthen payment security

Onafriq partners with VGS to strengthen payment security

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Africa’s largest payment gateway Onafriq has signed an agreement with American firm, VGS in a move expected to bolster security of its virtual cards in Africa and Middle East.

Under the deal, Onafriq and its fintech clientele will operate with enhanced security while delivering superior financial services to their customers.

As part of the agreement, Onafriq is set to implement VGS’s card reveal capability for its new “Credential Show” feature, which will apply to virtual cards and other card issuance features specifically tailored to fintech providers in the two regions.

“At Onafriq, we are committed to delivering cutting-edge solutions that meet the evolving needs of our partners. By leveraging VGS’s best-in-class technology and combining it with Onafriq’s unique expertise around payment interoperability, we are confident that we can drive meaningful impact and shape the future of fintech across Africa and the Middle East,” said Rajat Mishra, Onafriq Chief Operations Officer.

Onafriq and VGS will jointly and securely collect and store Primary Account Number (PAN) data and display a complete card number, expiration date, and CVV to end-users upon their request.

The process insulates Onafriq’s fintech clients from coming under compliance scope while offering user self-serve options and reducing customer service needs.

“We are thrilled to deepen our partnership with Onafriq and embark on this journey of innovation and collaboration. Together, we are poised to unlock new security and payments innovation possibilities for fintechs based in Africa and the Middle East, ultimately empowering businesses and consumers alike,” added Chuck Yu, VGS Chief Executive Officer.

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