Firstly, we would like to highlight that Swiff has a business model that sets it apart from competitors. Swiff caters to the needs of the entire ecosystem of industry players in the mobile payments space. Our ease of deployment for acquirers and acquiring banks is unique because Swiff does not compete for merchants.
In addition, Swiff operates on an open platform, which integrates easily with payment service providers, payment gateways and acquiring banks. This provides greater accessibility for third party developers, mobile developers and system integrators who can further customise and integrate our solution for the checkout.
Ultimately, our business model is very different from our competitors in that we are a technology partner for banks and financial institutions, and we tap into an existing ecosystem of bank-customer relationships. We believe that this will provide us an edge over our competitors.
How do you expect Swiff to benefit merchants?
The benefits to merchants vary from country to country. In Singapore, for example, it can be extremely useful for SMEs in the Food & Beverage industry looking to streamline the ordering-to-payment processes.
Swiff can also be easily applied to luxury resorts in Bali, for instance. Customers do not have to leave their villas to pay the bill as service staff can bring Swiff to them.
We also expect Swiff to have an impact on the millions of ‘unbanked’ small businesses around the world.
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