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SnapScan is more than just a smartphone app. It’s a contactless mobile payment solution that makes it easy and safe to pay and receive payments in a store, online, at home, and on the go. No need for cards, cash, or time-consuming EFTs – just simple payments in a snap!

SnapScan is more than just a smartphone app. It’s a contactless mobile payment solution that makes it easy and safe to pay and receive payments in a store, online, at home, and on the go. No need for cards, cash, or time-consuming EFTs – just simple payments in a snap!

SnapScan is more than just a smartphone app. It’s a contactless mobile payment solution that makes it easy and safe to pay and receive payments in a store, online, at home, and on the go. No need for cards, cash, or time-consuming EFTs

Digital financeAs the global economy recovers from COVID-19, one particular area of focus for FinTech is financial inclusion. According to the World Bank, there are currently around 1.7 billion unbanked individuals worldwide, and FinTechs will be central to efforts to integrate these people into the global banking system.Doing so will help to mitigate the economic and social impact of the pandemic. According to Deloitte, FinTechs, in strategic partnerships with financial institutions, retailers and government sectors across jurisdictions, can help democratise financial services by providing basic financial services in a fair and transparent way to economically vulnerable populations.Digital finance is also expanding in other areas. Health concerns in the COVID-19 era have made physical cash payments less practical, opening the door to an increase in digital payments and e-wallets. Though cash use was predicted to decline in any case, COVID-19 has hurried that decline, due to concerns that handing over money can cause human to human transmission of the virus. According to a Mastercard survey looking at the implications of the coronavirus pandemic, 82 percent of respondents worldwide viewed contactless as the cleaner way to pay, and 74 percent said they will continue to use contactless payment post-pandemic.In addition, improved ‘know your customer’ services are required to counter the rise in digital fraud and cyber crime since the beginning of the outbreak. As more of the global economic and financial system continues to move online, cyber defences will become even more crucial to protect data. Security-conscious FinTechs are designing their products with this in mind – even if face-to-face meetings and processes do return. Given the rising reliance on technology, digital transformation will be a primary focus for FIs in the months and years ahead. Whereas previous efforts to integrate technology may have been limited in scope, many FIs are awakening to the fact that in order to deliver an efficient, effective and sustainable banking service, they must adopt a more holistic approach to digital transformation, which includes utilising FinTech.

The response by banks right now to fintech disruption is critical due to the current stage of the nascent industry’s development. Fintech startups are broadly focused on the concept of unbundling banks, offering one type of product/service and concentrating on doing it VERY well.

Fintech, shortened from financial technology, is assumed to be a modern movement, yet the use of technology to assist financial services is by no means a recent phenomenon. Financial services is an industry that introduced credit cards in the 1950s, internet banking in the 1990s and since the turn of the millennium, contactless payment technology. Yet, fintech’s place in the public conscience has really taken off in the past three years:

FinTechs and the Value Chains in the Financial IndustryIt is beneficial to remember how things worked before and after FinTechs and TechFins or big techs in the financial industry.Banking models are shifting significantly from a pipeline, vertical, paradigm, to modular solutions that pave the way to new banking paradigms that entail higher levels of openness toward third parties and a growing number of modular services bundled together.Value is created in platforms through economies of scope in production and innovation (Gawer, 2014). In order for platforms to work, adoption and network effects are essential. Models can go to mere compliance with the prescriptions of openness of PSD2, to the inclusion of new services, the opening of the banking core and data, and the aggregation of those within a platform experience. In particular, we assist both to the evolution of a Bank-as-a-Platform model and a tech-platform-driven model supporting banking and financial intermediation, which both constitute a new interesting field of analysis.Since the wave of digital transformation started entering the financial industr

, banking-as-a-business has started moving from a product/service perspective to more contextual solutions where providers are customer needs-driven. This is because customer-driven companies outperform the shareholder-driven ones, and this requires an outside-in approach.Having said that, it is beneficial to remember that digital transformation implies four main categories of innovation (product, process, organizational and business model) (Omarini, 2019, p. 340); all of them require rediscovering that a new strategy paradigm exists. This regards the concept of co-creation, and because of this no single firm can unilaterally carry out a process of continuous experimentation, risk reduction, time compression, and minimizing investment while maximizing market impact. Co-creation requires access to resources from extended networks (suppliers, partners, and consumer communities).Under these new market conditions, FinTechs have become an important piece of a bigger puzzle, each one in its own area of business (payment, lending, etc.), while at the beg

inning most of them started as mono-business companies. Only a few of them may become leaders in the market. On the one hand, there are those that make their strategy become international, and on the other, there are FinTechs which enlarge their services-scopes. However, the majority of them will become part of ecosystems where the direction could swing from banks to tech companies or to FinTechs as well, able to manage the network by developing kinds of conglomerate-as-a-service.Another interesting point to outline regards this recent period where all of us have experienced lockdowns around the world, and some effects have also impacted FinTechs as well. The valuations of most unicorns have crashed overnight, while on the FinTechs side there are different situations. Some of them have experienced a dramatic reduction in their

The Smartel Money customers and services include retail banking, individuals, insurance agents, retail grocery, retail clothing, retail cell phone services and utility services among others. These include checkout services such as the Smartel Money Point of sales system (sPOS); the Smartel Money Mobile point of sales systems (smPOS). These systems have access to the Smartel Money central engine for processing payments. “Businesses owners can finally give true convenience to customers by using My Wallet as a contactless payment option. They can also take advantage of our free business tools which include, point of sale, human resource management, and customer relationship management,” Mr Nchai said.

ut the boxSnapScan is providing a uniquely digital solution, where you can download as many SnapCodes as you like from the Merchant Portal and display these anywhere you want to accept contactless mobile payments. You also have the option to purchase a SnapScan Starter Kit when you successfully sign up your business. This includes a printed SnapCode in a stand, a double-sided sticker, and info flyers for first time app users. Display your SnapCode anywhere you want to accept mobile payments. You'll automatically receive confirmation of payment via SMS.

Smartel Money LTD is an e-commerce business allowing payments and money transfers to be made through the modern ICT platforms as well as using the mobile and non-mobile platforms as well as using the freely downloaded applications. Smartel money is an internet based e-commerce payment system, which intends to be a payment processor for online vendors as well as click and brick businesses, auction sites, grocers and other commercial users, for which it charges a fee.Smartel Money provides the above via the My Wallet (TM) service which comprises a numerous tailored solutions both for businesses, organisations and end customers. For more information visit our website in the link given below.

Send payment links to your customers.For businesses with no online store.Take online card payments by sending your customer a payment link on WhatsApp, email, Facebook or Instagram.