At the height of the global Covid-19 pandemic, Nedbank became the first bank to offer small, medium and micro enterprises (SMMEs) the ability to turn their cellphones into a payment acceptance device with the launch of its Tap-on-phone functionality in October 2020.
Following a successful closed pilot in June, the easily downloadable app has empowered a number of merchants and business owners with the ability to accept card payments on their cellphones without having to purchase point-of-sale (POS) devices. Merchants include beauty parlours, hairdressers and car washes, proving the importance of such a solution for small to medium sized enterprises in South Africa.
30 June 2020 – Nedbank has unveiled its new tap-on-phone functionality that allows all merchants and business owners to convert their mobile phones into payment acceptance devices.
Tap on phone makes it easier for small- and medium-sized businesses to use their compatible smartphones to accept quick, easy, and secure, payments from their customers for goods or services. Due to the Covid-19 pandemic facing the world we have all been sensitised to the need for social distancing, which has impacted all areas of our lives, including how we transact on a day-to-day basis. The tap-on-phone functionality enables contactless payment acceptance and there’s no health risk to the merchant or customer.
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Mass transit is not something many African payment facilitators can get involved in. This is mainly because there are not many mass transit systems on the continent and most of those that are using closed-loop payment systems. So when iVeri was commissioned to add open-loop contactless card acceptance to South Africa’s Gautrain system was a […]