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Sureswipe: The Evolution of Payment Systems

One of the first Payment Service Providers in South Africa, Sureswipe was established in 2008 to make card payment easy and accessible to for independent and SME retailers. Sureswipe offers an extensive suite of card payment products that creates an efficient, affordable and safe payment solution.
Driven by Passion
Paul Kent is the Founder and Managing Director of Sureswipe and his commitment to serve the needs of SME businesses has driven the growth and evolution of the business. He completed his Management Advancement Program at Wits Business School in 2003, followed by the Accelerated Directorship Program to become a certified member of the Institute of Directors. In 2013, he was a finalist in the Sanlam Entrepreneur of the Year and in 2015, he received his MBA from the IE Business School. To champion entrepreneurial growth Paul developed Sureswipe which today is one of South Africa’s most reputable and innovative fintech companies and employs almost 130 people across South Africa.
In 2015 Sureswipe won an international award for its mPOS product offering and in 2016 it was voted as one of Africa’s Top 10 Fintech Companies. 2018 marks the 10th year since the birth of Sureswipe and the realisation of Paul’s vision to create an innovative payment solution that start-ups and SME retailers utilize to grow their businesses, and in turn contribute to creating jobs in the South African market. Driven by Paul’s passion, Sureswipe has expanded its product offerings and captured a larger piece of the value market by delivering on its promise of ensuring that card payments are accessible to all small business owners, who are the heartbeat of our economy.
Meeting Challenges
The early days (like most new businesses often feel) were tough and Sureswipe as the first independent card payment company, had to overcome many challenges. The most significant as one of the first non-banks to offer payment services was to establish trust and credibility, and ensure that the payment cycle was completely secure and adhered to all payment protocols. Hand-in-hand with this was the challenge of legislation, which often lagged behind digital innovations. Sureswipe had to ensure that it was operationally agile and flexible enough to constantly change and deliver on latest technologies, driven by customers’ needs. The company also collaborated closely with other service providers and the banking community to ensure that the payment cycle was always secure.
Today, over 9000 independent retailers across South Africa are using Sureswipe card machines. They offer a range for flexible card payments from traditional fixed machines for physical in-store trading and portable machines that restaurants use for convenient payments directly to their customers. The mPOS solution, Surewipe MOVE card readers are suitable for smaller retailers trading on the go who need to make simple and quick card payments without losing out on any sales transaction, such as a pop-up stores or market stalls. Their Integrated Payments solution is suitable for larger or high volume retailers where the speed of transaction is a priority to get queues moving and integrated into an existing POS.
Sureswipe introduced an innovative value added solution to its customers, called Cash Advance, an alternative to a banking loan, which helps finance small businesses to expand or improve their operations with repayments linked to card swipes. Another service that helps to grow their customers’ business is a personalized Gift and loyalty card programme to help retain and attract new customers.
The South African retail sector has an estimated 1.4 million retailers and informal traders. Sureswipe is the only Payment Service Provider (PSP) to offer a full range of payment acceptance/acquiring solutions suited to all business needs.
They are the only Payment Service Provider in South Africa to offer a single point of contact and contract. In addition, it has established a reputation as a reliable and trustworthy partner with a 10 year track record to support this claim, processing over 10 billion rands of swipe value in the past 12 months.
Sureswipe is committed to continuing to build SMEs by offering new and innovative products that allow them to improve their services offered to their customers.
Source: The 10 Most Innovative POS Solution Providers 2018