Barter virtual Mastercards product review

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The continuous drought of Forex to pay for goods and services has led some smart thinkers to developer Barter.

This is yet another player introduced into the Nigerian fintech space. Barter is simply a dollar-denominated virtual Mastercard that allows anyone to pay for any goods and or services anywhere online where the MasterCard logo is shown.

Barter is already in its Beta stage and it is free to use for anyone. The product was developed by the same team behind Flutterwave, an online payment processing platform for merchants.

The team perhaps have their eyes on the African market as Barter allows users to fund the cards with USD, Naira, Kenyan Shillings and Ghanaian Cedis.

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The platform supports “All banks and financial institutions in the US, Kenya, Ghana and Nigeria”.

Folks behing the product must have done their homework on transaction security. The platform is PCIDSS level 1 complaint (Payment Card Industry Data Security Standard). This is a bank level security on all transactions to ensure your information is always secure.

On aesthetics level, the site is one of the most simple and yet professionally done. The choice of logo is also adding to the premium image of the product.

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On its FAQ page, Barter claims it can refund unauthorised spending “If your card is used without your permission and you place a complaint with us, provided that you can prove it wasn’t with your permission (don’t worry, it’s pretty easy to do that) we’ll refund the money to you”.

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This will require further explanation as to how it will get such funds back especially if the culprit cannot be identified.

Barter has not also stated how much it will be charging as transaction fees. A prohibitive transaction fee might scare many people away. The exchange rate to be used in the system has not also been given much clarity.

There are several rates in the market with various factors determining who quotes what. More clarity on this will go a long way to make this product a big deal in the Nigerian fintech space.

The product will also be competing with various virtual wallets such as Nairabox and Kudi.ai. Nairabox has already entered payment and money transfer niche. The arrival of Barter will signal more entrants and the competition will get tougher.
(PageoneNg)

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Hong Kong ICT Awards 2021 opens for enrolment

HONG KONG SAR - Media OutReach - 23 April 2021 - The Hong Kong ICT Awards (HKICTA) 2021 is open for enrolment today (April 23). Entries of locally developed information and communications technology (ICT) products and solutions are invited to compete for the Grand Awards in the eight award categories, and the top accolade of the competition - the Award of the Year. The deadline for enrolment is July 16, 2021.


Steered by the Office of the Government Chief Information Officer (OGCIO), the HKICTA 2021 is organised by eight local industry associations and professional bodies. The award categories and respective Leading Organisers are listed below:


Award Categories

Leading Organisers

Digital Entertainment Award

Hong Kong Digital Entertainment Association

FinTech Award

The Hong Kong Institute of Bankers

ICT Startup Award

Hong Kong Wireless Technology Industry Association

Smart Business Award

Hong Kong Computer Society

Smart Living Award

Hong Kong Information Technology Federation

Smart Mobility Award

GS1 Hong Kong

Smart People Award

The Hong Kong Council of Social Service

Student Innovation Award

Hong Kong New Emerging Technology Education Association


A Grand Award will be granted in each category. A Grand Judging Panel, to be led this year by the President of the Hong Kong University of Science and Technology, Professor Wei Shyy, will select the Award of the Year from the eight Grand Awardees.


Since its debut in 2006, the HKICTA has endeavoured to recognise and promote outstanding ICT inventions and applications, thereby encouraging the pursuit of innovation and excellence among Hong Kong's ICT professionals and enterprises to meet business and social needs, bring benefits to the community through adoption of innovation and technology, and foster Hong Kong's smart city development together.


Details of the HKICTA are available on the thematic website (www.hkictawards.hk). Enquiries can be made to the OGCIO at 2582 4318 or by emailing [email protected]


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