The MasterCard Internet Gateway Service (MiGS) allows banks to deliver a complete internet payment technology to their merchant clients who wish to accept payments on their web portal.
The new offering is an assortment of value-added services including invoice payments, batch payments, reoccurring scheduled payments, virtual terminal and web shop that works with MIGS.
Simple to deploy and easy to use, the web-based payment system has been designed to enable SMEs to set up an internet presence for their businesses, including website design and processing of batch and individual card payments.
Further, it enables traders to create their own web shops, including shopping carts and online product catalogues as well as a custom branded e-commerce technology to manage and authorize online payment transactions in more than 145 currencies.
MasterCard West Africa country manager Omokehinde Ojomuyide said that the SME Online will extend payment benefits to thousands of smaller merchants and enables millions of Nigerians to shop online.
Presently, Guaranty Trust Bank and Zenith Bank are providing the MIGS services to their merchant customers, while SME Online is only being offered by the latter.
Global payment processor MasterCard operates a global payments processing network that connects consumers, financial institutions, merchants, governments and businesses in over 210 countries and territories.
