[INTERVIEW] Biz Interview: Barry Coetzee, CEO, Iveri Payment Technologies, South Africa
iVeri Payment Technologies is a South African, private-owned company that creates technology for financial institutions and businesses to facilitate multiple-channel transaction acceptance. A proven provider of best-of-breed multiple channel transaction technology, iVeri has been developing electronic payment technologies since 1998. Today, iVeri processes millions of transactions and has customers in several countries African countries.
CEO of Iveri Payment Technologies, Barry Coetzee, talks briefly with ABC on the industry and developments therein.
Please introduce to us your company and your position there.
I am Barry Coetzee and I am the CEO of iVeri Payment Technologies, a company I founded in 1998.
In what countries do you operate?
iVeri is based in Sandton, South Africa and we also have an office in Nairobi, Kenya. iVeri has customers in South Africa, Namibia, Zimbabwe, Angola, Tanzania, Kenya and Ethiopia.
Who do you service as a company - the public, private or government sector?
We service banks primarily, of any sector.
What do you offer your clients that your competitors do not? Why should a foreign investor enlist your services?
We provide our customers - African banks - with technology that makes them competitive with foreign owned banks. Our technology meets all international standards and certifications, but is designed for Africa. All of iVeri’s products are developed in-house.
You’re a major player in the Technology industry. What fuels technological development in a country – innovation, education, government support?
I would say that competition is the primary driver. As banking is highly regulated, the government would also be a major driver of technology development.
What are the overall challenges to operating in the African market today?
The South African market is more of a “developed market” whereas our other markets are more “developing”.
Can you proffer a possible solution to these challenges, as a business operator?
As country groupings (SADC, COMESA, EAC) get more organized, I believe we will see more harmonization of markets.
What change would you like to see in the Technology industry that would make your job easier?
Harmonized markets and regulation.
What are some leaps in technology South Africa has made recently that you find most outstanding?
Mobile is by far the driver of all technology at the moment. This year we have seen the introduction of LTE and MPos. There will be more next year.
What’s the latest from Iveri Payment Technologies?
iVeri became the first African company to release an MPos solution in November. We, in November, also announced a strategic partnership with CyberSource, the world’s leading eCommerce fraud management system.
Barry Coetzee will be a regular columnist on Africa Business Communities, commencing January 2013.