The solution is built around a set of hardware and software that together form a contiguous payment control mechanism. The entire solution and its various product offerings are based around the world-renowned U.E.P.S - Universal Electronic Payment System created by NET1 South Africa. The U.E.P.S technology allows for a secure national payment system that manages the flow of funds between consumers, merchants and financial service providers. The technology was pioneered and developed in South Africa and makes use of the methodology which is patented in the USA, South Africa and surrounding territories, called the “FTS” Patents – Funds Transfer System.
When deployed with the proper supporting system infrastructure, the U.E.P.S solution operates in a fully integrated fashion. It fulfils all customer needs as a multi-functional system thereby minimising all costs associated with deployment, installation, training, maintenance, and support and query resolution. The application supplies more functionality than its counterparts and is tailored to satisfy the aspirations of the market segment it is designed to serve. At SmartSwitch Nigeria we recognise that the development of the U.E.P.S is that inter-operability between the “haves” and the “have-nots” solution is critical.
Inter-operability automatically minimises the costs involved in setting up new infrastructures that will significantly accelerate the deployment and availability of
a national structure, with no barriers to entry, for use by the entire population.
