The innovative payment solution is a retail management platform targeted at SMEs for effective management of their business. The platform comes with an integrated payment, inventory, accounting, customer loyalty and transaction reconcillation engine.
Visum was designed to support SMEs business operations. It is a combination of a robust back end retail system and front end POS applications embodied with features that allow merchants to get paid, monitor sales, operations and also the automation of their back office functions. Visum provides a 360 degrees view of the business. The platform seeks to address the challenges of the retail sector which have been identified as cash management and management of multiple payment modes, sales monitoring and tracking, inventory monitoring, account reconciliation, customer experience and loyalty.
Commenting on the product, Innovation and Product Design Manager, 3Line, Kola Omirin said that Visum was a response to market needs and to encourage the use of technology to drive the retail business.
He said: “We saw a need for a seamless secure electronic payment platform that serves the unique needs of SMEs, financial institutions, organizations, government institutions, and the likes at various points of business interaction. We also recognised the need to address the issue of low rate and usage of POS terminals. In response to these needs, we developed this disruptive business solution that provides a robust,cost-effective, secure and reliable 360 view payment solutions for businesses.”
Visum seeks to encourage individuals particularly merchants to utilize POS devices for activities other than making payments. Also, to enable easy hassle-free shopping experience for retailers and customers. The platform will provide disruptive mobile point of sale technology that will deliver fast and secured online payment services.
Kola explained that Visum holds huge benefits for SMEs, financial institutions, other organisations who need to track sales and performance. These benefits include;a 360-degree view ofthe business, automated business processes, insights on sales activities, online real reporting, record keeping, bank payment transaction reconciliation, access to bank loans, improved customer experience amongst others.
Visum was exhibited at the Digital Pay Expo Conference 2019.
3Line Card Management commenced business with the primary aim of using technology to make financial services easily accessible to the financially excluded. It can be described as a one-stop-shop for electronic payments service. The company’s infrastructure processes transactions across multiple electronic channels. 3Line focuses on four key areas: Card scheme (FreedomCard), Transaction Switching & Processing, Agent & Branchless banking and bespoke electronic payment application development.