PayLogic, a leading payment technology solutions company, is proud to announce its partnership with the Central Bank of Lesotho to support the implementation of the National Payments Switch. This strategic collaboration aims to revolutionize the financial landscape in Lesotho by enabling secure, efficient, and interoperable transactions across various payment channels.
Under the project name “Supply, Implementation, and Maintenance of National Payments Switch,” PayLogic was entrusted with the task of installing and integrating a comprehensive payment solution for full interoperability, encompassing mobile and cards. The PayWay PayLogic platform, known for its cutting-edge capabilities, will serve as the backbone of Lesotho’s national payment infrastructure.
The PayWay PayLogic platform offers a wide range of functionalities designed to handle transaction processing, fraud management, participant management, and seamless interfaces with various stakeholders, including banks, mobile network operators (MNOs), aggregators, and Visa. The platform also facilitates critical services such as settlement and reconciliation, instant payments, cardless withdrawals, wallet-to-wallet and account-to-account money transfers, merchant payments, remittance, bill payments, proxy smart addressing, QR code payments, fast payments, and an extensive API library.
By implementing the PayWay PayLogic platform, the Central Bank of Lesotho aims to foster financial inclusivity, promote digital payments, and enhance the overall efficiency of the country’s payment ecosystem. This milestone project will facilitate secure and convenient financial transactions, enabling individuals, businesses, and government entities to transact seamlessly across multiple payment channels.
PayLogic, renowned for its expertise in payment technology solutions, is committed to delivering a robust and scalable platform that meets the specific requirements of the Central Bank of Lesotho. The company’s dedicated team of professionals will ensure a seamless integration process, reliable system performance, and ongoing maintenance and support to guarantee the success of the National Payments Switch initiative.
“We are honored to partner with the Central Bank of Lesotho in this transformative project,” said Mohamed MEKOUAR, Chairman at PayLogic. “Our PayWay PayLogic platform will empower Lesotho’s financial sector with advanced payment capabilities, driving economic growth and financial inclusion. We look forward to supporting the Central Bank in their mission to create a modern, secure, and efficient payment infrastructure for the benefit of all stakeholders.”
PayLogic’s collaboration with the Central Bank of Lesotho marks a significant milestone in the company’s commitment to revolutionize payment technologies in the region. As a trusted partner, PayLogic will continue to innovate, expand its solutions, and contribute to the advancement of digital payments and financial inclusion globally.
About PayLogic: PayLogic is a leading payment technology solutions company that specializes in providing innovative and secure payment solutions to financial institutions and organizations worldwide. With a focus on interoperability, efficiency, and customer experience, PayLogic empowers its clients to enhance their payment ecosystems and drive digital transformation. With a team of experienced professionals and a robust portfolio of solutions, PayLogic is dedicated to simplifying payments and shaping the future of financial transactions.