Payfast, a well-known payment gateway operator, has announced a big rebranding drive that includes consolidating operations with PayGate and SiD under the umbrella of Network International. This complete consolidation effort not only reflects a fundamental shift in these businesses’ operational structures, but it also lays the path for a new age of extraordinary growth in the ecommerce industry.
These three of South Africa’s most important ecommerce firms have synergistically integrated their distinct talents to create a single, potent entity under this redesigned brand name. This integrated powerhouse is projected to considerably improve their ability to meet partner commitments, particularly in terms of maximising growth opportunities.
The rebranding initiative has resulted in the creation of an innovative industry ecosystem, promoting a climate that encourages the interchange of ideas and collaboration on future payment improvements. Such an environment enables industry trailblazers to create and deploy creative ideas that have the potential to change the ecommerce business.
On January 17, an exclusive media roundtable event was hosted to introduce the new corporate identity, which included a new logo and a revised colour palette. Brendon Williamson, Payfast’s Managing Director, and Chris Wood, Network International’s Regional Managing Director for Southern Africa and PALOPS, led the discussion. They reviewed the unifying mission and focus of this integrated body as well as the possible benefits of the cooperation.
Williamson emphasised that this metamorphosis is more than just a cosmetic change. It represents a critical step towards bringing together some of the most powerful business titans to form a unified brand and legal entity. The goal of this unity is to create a resonating identity for everyone affiliated with the endeavour, both internally and internationally. The goal of this rebranding is to create a unified, powerful vision that moves the united company forward.
Furthermore, Williamson stated that this collaboration is critical in keeping up with global ecommerce trends. The collaboration is primarily intended to keep the local ecommerce landscape competitive, inventive, and responsive to worldwide innovations.
In terms of operation, the newly redesigned Payfast promises merchants a better, more user-friendly experience. Because of the consolidation, merchants can now interact with a single legal company for all of their online transactions. It provides the comfort of traditional Payfast, Paygate, and SiD goods and services while also providing a more streamlined, efficient experience.
Looking ahead, the organisation intends to capitalise on the collective workforce’s skills, technology, and new ideas. The purpose is to drive growth and improve ecommerce capabilities for their merchants, resulting in more business prospects and revenue.
Because of the increased digitalization caused by the Covid-19 pandemic, internet retail is expected to surpass R50 billion by 2022. Payfast has exhibited agility and adaptation in the face of such industry upheavals. Inspired by the industry’s progress and expansion, the business stays committed to driving greater innovation, aiming to define the future of ecommerce and payments.
