Traderoot and Wemvula join forces

Friday 23 February 2024 12:55 CET | News

Traderoot and Wemvula have announced a partnership to bring PayedNow instant payment solution to the South African market. 

PayedNow is a solution under the umbrella of Wemvula Fintech, that has been developed with the specific aim of bridging the gaps that traditional payment systems often present. A feature of PayedNow is its patented real-time electronic messaging layer which grants payees the autonomy to decide on their preferred payment method.

Traderoot and Wemvula have announced a partnership to bring PayedNow instant payment solution to the South African market.

According to the announcement, by partnering with Traderoot, PayedNow is intended to be positioned for maximum effect. The partnership seeks to pave the way for real-time notifications, flexible payment choices to payees, and an overall enhanced transactional experience. 

PayedNow Benefits to the Payment Ecosystem  

  • Flexible and Accelerated Payment Choices for Payees: PayedNow’s system seeks to empower payees by giving them the ability to select the payment method. This enables payees to be part of a bipartisan payment structure and to accelerate the completion of transactions.  

  • Enhanced Security and Compliance: the PayedNow messaging system is both encrypted and auditable, offering businesses and their clientele a heightened sense of security while also adhering even more strictly to compliance norms. 

  • Greater Adaptability and Increased Compatibility: PayedNow has been designed with adaptability, enabling compatibility with a diverse range of payment systems and rails. This ensures that businesses can maintain operational continuity without sacrificing efficiency. 

Furthermore, the announcement stated that PayedNow’s beneficiary-driven payment solution is underpinned by two patents and has been acknowledged by PASA as an enhancement to request for pay because it allows a mono-instructional messaging system to be bipartisan and therefore brings compliancy to the forefront of every transaction. 

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Keywords: payment methods, partnership, real-time payments, online security
Categories: Payments & Commerce
Countries: South Africa
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Payments & Commerce

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