Our History & Milestone

⇒ 2013


⇒ 2012

Paymenex signed agreement with Paymenex Canada Inc., Paymenex Nevada LLC USA, Paymenex Panama LLC, and Paymenex Colombia LLC. 

Vodafone Ghana launched airtime topup swipe card powered by Paymenex MultiCard on Paymenex TransNET network.


⇒ 2011

Paymenex signed agreement with Paymenex Cameroon S.A in Cameroon and Paymenex Sierra Leone Limited in Sierra Leone to act as Paymenex Regional Administrator in respective countries and currencies. BETA release of Paymenex MobilePAY, Virtual Card and e-Wallet.


⇒ 2010

Paymenex™ TransNET commenced production with network and transaction switching platform in United Kingdom, and signed agreement with Paymenex Inc. in United States,  Paymenex Ghana Limited in Ghana, and Paymenex Nigeria Limited in Nigeria to act as Paymenex Regional Administrator in respective countries and currencies.


⇒ 2009

3WSentry card security technology made its debut implementation on production environment on Paymenex TransNET to protect cardholders and merchants.


⇒ 2008UEL

Paymenex™ incorporated in England & Wales with prime mission to operate the Paymenex™ TransNET, critic was raised about mobile networking issues with the SMSV solution, prompting a further Doctoral research in Information Security at the CITE Graduate School of the University of East London supervised by Dr. Hamid Jahankani and Dr. Sin Wee Lee.   And 3WSentry Card Security technology was found.


⇒ 2007

 
The SMSV solution tested on business enviroment by top software engineers, computer security scientists, and Testers from United Kingdom, India, and USA with feasible result leading to the conversion of the academic project to a commercial product to offer a business model of a secure "PaymenExchange Transactions Network". The name was acronymized to "Paymenex TransNET " to be a secure interchange network designed for e-money products with SMSV online authentication solution.


⇒ 2006University of Liverpool

 
Graduate Research in information security at the department of computer science The University of Liverpool investigated the online card payment problems and discovered the causes to be (1) increase in Identity theft, (2) flaws in existing systems and solutions, (3) static nature of data used online to authenticate cardholders and (4) increase in the number of online shoppers, SMSV system discovered as a solution to the problem. 


⇒ 2005

The annual "Fraud the Facts " publication from 1995 - 2005 by APACS (The UK Card Association)  confirmed that card fraud resulting from online card payment leads with more than 52% of other types of card fraud, and there has been a continuous annual increase in loses resulting from this environment because the card is not present at the point of sale.

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