RedCloud Technologies, a leading open commerce platform provider, has entered into a strategic partnership with Paystack, a prominent digital payment provider in Nigeria. The collaboration aims to streamline and secure Business-to-Business (B2B) transactions on RedCloud’s Intelligent open commerce platform, Red101 app, in adherence to the Central Bank of Nigeria’s regulatory policies for digital payments.
- Compliance Assurance: The partnership with Paystack ensures that B2B transactions on RedCloud’s open commerce platform align with regulatory policies and guidelines set by the Central Bank of Nigeria. The goal is to uphold due diligence and compliance with all relevant requirements.
- Payment Options: Customers on RedCloud’s platform will benefit from convenient payment options facilitated through payment tokens from Paystack. Digital payment channels, including instant bank transfers, debit and credit cards, USSD, and QR codes, will be available to enhance the payment experience for distributors and merchants.
- Enabling Digital Payments: The collaboration empowers businesses to accept and make payments seamlessly through various digital channels. This includes instant bank transfers, card payments, USSD transactions, and QR codes, contributing to a more efficient payment ecosystem.
- Enhanced User Experience: The integration of Paystack’s capabilities into RedCloud’s platform aims to provide an improved transaction experience for retailers, distributors, and merchants. The partnership focuses on enhancing the overall user experience and ensuring transactions are conducted securely and in compliance with regulations.
- Marketplace Access: Retailers and merchants can easily join the Red101 platform by downloading the Red101 app from the Google Play Store. This accessibility is designed to encourage more businesses to leverage the benefits of secure and efficient digital payment solutions.
- Significant Milestone: RedCloud sees this collaboration as a milestone in delivering secure, transparent, and efficient digital payment solutions to its extensive customer base of brands, distributors, and retailers. The partnership reflects RedCloud’s commitment to providing a secure and regulatory-compliant environment for businesses.
Summary: RedCloud Technologies’ strategic partnership with Paystack signifies a significant step in advancing secure and compliant B2B digital payments in Nigeria. By integrating Paystack’s digital payment capabilities into the Red101 app, the collaboration aims to provide businesses with convenient, secure, and regulatory-compliant payment options, ultimately enhancing the overall transaction experience for users on the RedCloud platform.