Fast-rising electronic payment platform, VoguePay, has scooped the award for the best emerging online payment platform in Africa, a recognition that places it firmly as a market leader in the deployment of payment solutions to small and medium scale businesses across Africa.
The award, bestowed on VoguePay at the maiden edition of the African Information Technology and Telecom Awards 2016 over the weekend in Accra, Ghana, chronicles Africa’s payment industry, identifying and rewarding those seeking to break new grounds in the quest to provide African communities with simpler, faster, safer and cheaper payment solutions.
VoguePay’s award was credited largely to the significant strides it made toward providing a cheaper and convenient payment gateway for small businesses across the continent. Despite being in operation for less than half a decade, VoguePay has gained significant prominence after it became the first payment platform in Nigeria to offer free account opening for its merchants as well as offering its integration suite for free. It was also the first payment platform in Nigeria to facilitate bitcoin transactions as well as the first online payment platform to enable international gateway transactions for local merchants in Nigeria and across Africa.
Today, VoguePay boasts of tens of thousands merchants spread across 4 continents, as it remains committed to helping small businesses connect with the global audience.
In acknowledgement of the award, VoguePay’s CEO, Michael Simeon, stated that his firm’s financial framework is designed to meet International Financial Reporting Standard (IFRS) and the platform deploys several second-level authentication protocols in order to prevent unauthorized access to merchant’s account. These security algorithms include geo-location monitoring and behavioral pattern analysis systems, transaction patterns monitoring systems, IP monitoring, SSL Security Encryption, GeoTrust with EMV, audit trail, and data encryption technologies are actively in place to ensure security.
Launched in 2012, VoguePay was created with a vision to make online, cross-currency payments and transactions safer, cheaper and more accessible for businesses, traders and consumers in Africa and internationally. The platform offers both users and merchants an opportunity to transact without directly using their card or bank details.