The Silicon Review - Best Business Review Magazine 10 Best IT Services Companies 2019 | Page 44

Revolutionizing Mass Payments across Emerging
Markets: Nearex
N
earex is a rapidly growing
fintech company, providing
a breakthrough cashless
payment technology that’s
revolutionizing small payments
across emerging markets. Founded
in 2012 by professionals from the
mobile and fintech industry, Nearex
is passionate to digitize small
everyday payments where cash
continues to dominate.
Leveraging the Power of
Xip
The Xip micropayment system is
designed to digitize everyday low-
value payments. Xip leverages the
power of contactless technology to
deliver a world-class end-to-end
solution comprising of terminals,
tags, and the software.
Xip Platform: Xip platform
comprises of a powerful closed-loop
card, terminal management system,
transaction management system,
and an administration module.
Xip platform integrates with an
existing wallet or financial system
to enable payments. The platform
integrates with an existing wallet or
core financial system to enable the
transaction. The platform is secure,
scalable, and flexible which makes
it suitable for a variety of payment
applications.
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Xip Management System is a
powerful card, terminal, and
transaction management engine.
The platform provides powerful
APIs which allow for quick
march 2019
integration with existing wallets,
core financial systems, and
value added services such as bill
payments, recharge, loans, and
disbursements. The Administration
Module allows the creation of
different user profiles and reports to
provide for managing and tracking
business performance. XipMS
provides support for online and
offline payments.
XipPOS (Terminals): Innovative
range of terminals that support
technologies like NFC, QR, Audio,
and Biometric based payments. Be
it online or offline, 2G or 3G, these
terminals are crafted to suit an
entire spectrum of the market, right
from street vendors to supermarket
merchants, all at an affordable
cost enabling clients to roll out a
payment network across thousands
of merchants.
XipTAG (Contactless Tags for
every lifestyle): An innovative
range of NFC tags in various form
factors like cards, stickers, or
modular wearable for both online
and stored value payments.
XipAPPs (Enabling payments
across Android devices):
XipAPPs allow the payment service
provider to extend the XipPlatforms
online and offline capability to
leverage the availability of Android
NFC phones and Android-based NFC
Terminals. With this, the payment
service provider can choose from
a variety of XipPOS terminals and
Xip App based terminals to provide
the most optimum solution for its
merchant network.
Solutions
Xip Stored Value Payment
Solution: Xip Stored Value
Payment Solution is an offline
payment system where the value
is stored and managed on the tags
that customers carry. Such systems
are invaluable where transaction
speed is critical like in transports
or where network connectivity is
unreliable. Xip Stored Value delivers
a user experience to customers that
are as close to cash as one can get,
making it a great first step for digital
payments for users who are only
used to cash.
Xip Contactless Payment
Solution: Xip Contactless
Payment Solution was created
to make electronic payments as
simple and easy to use as cash,
affordable enough to use for the
smallest merchant in any country
and powerful enough for the most
sophisticated merchants. Xip
brings a complete payment system
to enable a very wide variety of
organizations to launch retail and
proximity payment services. Xip
helps mobile money grow beyond
remittances, banks to reach the
unbanked, and wallet services to
offer convenient retail payments.
Xip works with a wide variety
of wallets, banking systems, and