“Word on the street is that Simplepay has secured Level 1 PCI DSS (Payment Card Industry Data Security Standard) certification. Ignore all that jargon. Translation: they say they’re now just as secure as the most secure payment gateways in the world. Securing the PCI DSS certification means they can now securely process payments from Verve,…”
The Paystack Reaction. Thank God for competition.
Congrats to SimplePay.
This move by SimplePay has actually been in the works before Paystack-revolution.
Seriously, I can’t wait for the battle of Payment in Nigeria.
With all due respect, the Goliath of this battle is not even making as much noise yet. But I bet it will be fierce as the “old institutions” are waking up.
Take for example, Interswitch’s announcement (operating as Quickteller PayPoint) to invest in rural money collection as a financial agent ALMOST EATING the biggest pie in front of Paga.
Or, knowing that NIBBS is also competing in mobile banking in partnership with all banks as SQUARE Mii
Let me add the third possible dinosaur: *737# of GTB. http://gtbank.com/737
Privately funded payment platform should be innovative with these development as it is turning out that their enabler platforms are now becoming competitors too.
Just thinking that by adopting the 10X Innovation or moonshooting they can survive with investors’ money multiplied.
Good luck to us (I am also in the space
It was an easy decision to use Simplepay on imeela.com. A clean and well documented API for developers.
So it took Paystack for them to know they should have got the license since, no matter how they want to spin it it was paystack that motivated them, because simple pay have raised funds a long time from multiple investors, what were they waiting for? In terms of vision, execution without money paystack is winning and will win the payment, they just need to innovate on products, all the copy cats go tire…because you cannot buy vision and innovation, its not in you or your team, there is only so much you can copy before you start abusing someone domain expertise.
Hello Micky, Thanks for your comment and I would love to have a one on one with you. Setting up a payment solution takes a lot and loads of funding and certifications. Its not about just coding something and putting it online. Payments is way more than that, and I learnt that when I brought out my first MVP. SimplePay did not waste time or decide to work underground because it lacked innovation, oh no. Its about the fact that you need a PCI DSS Level 3, 2 or 1 before you can run very well. If you go to our site we have that now. And I can provide you with that certification which took us a long time to achieve as we went for Level 1. We have made the licence public so you can see we did not waste time. We actually have it and not just saying it. We could have changed infrastructure 6 months ago and come out with a wonderful solution but it would not make sense to us. We are now seeking a bigger lincese and certification and trust me our investors, BOI is backing us all the way to provide the best in Innovation. My Name remains Simeon Ononobi and innovation is what I leave for. Thanks and God bless.
Lovely Project. I would love to support you when you are fully live. From Simeon @ SimplePay
Congrats Simeon. (@Therealsimeon)
Where @micky might be right (re: PayStack winning…) is their lovely design. It also seems your new SimplePay website took a leaf off that design.
Payment solution in Nigeria is not beans. So I don’t see the need to rain on their parade. The more solutions we have the better. All we want is a decent payment solution. I don’t see this as a copycat case. SImplepay have been plugging away for a while. The race is always a marathon and not a sprint. Even in marathon you don’t jog on the spot
@Therealsimeon you have done well. Congratulations!
You know when you are waiting for the bus at the busstop for a long time, all you wanted was just one bus, whether rickety or not. Then all of a sudden you see 2 nice UBER cars a la Paystack and Simplepay. Wonderful
Signed up just to say this…