NUPAY, Cape Town

The basic functionality is of the NuPay system is to provide a facility whereby a Credit Provider can process an electronic transaction to make a transfer from a client's account to his own account, similar to what is currently being done with credit and debit card transactions. The difference is that, due to the lack of funds in the client's account, this transaction must be processed at a later value date. This is done without the retention of the client's ATM card or his PIN.
NuPay was founded in 1998 and partnered with ABSA until the purchase of the ABSA shares by leading technology company Altech in July 2009. NuPay has since traded under the Altech banner as Altech NuPay. Altech NuPay is a transaction service provider that specialises in payment and collection solutions through a number of products and services that all focus on the collection of transactions from multiple sources. Since 1999 Altech NuPay have predominantly operated within the micro finance sector, however over the past 3 years (with the introduction of new product offerings) our focus has split to encompass all markets that require managed payment and collection solutions. Altech NuPay strives to walk the extra mile where our products, customers and service offering are involved. We are committed to continually enhancing and innovating our products and services. We pride ourselves on the fact that our customers are our most important asset and we therefore continually strive to render them the excellent customer service to which they have become accustomed. We are committed to our customers and our brand and continually seek room to improve.