Absa in partnership with WIZZIT Digital has launched Absa Mobile Pay – a ’market-first’ mobile payment acceptance solution. Photo: File
Absa in partnership with WIZZIT Digital has launched Absa Mobile Pay, a “market-first”, mobile payment acceptance solution.
According to Absa, this is a way to offer SMEs a cost-effective solution to facilitate contactless payments, but it is suitable for all businesses, including corporations.
The mobile pay solution allows the bank’s traders to use their Android smartphones as a point-of-sale device by downloading the Absa Mobile Pay App from the Google Play store.
Users’ smartphones are required to support Android 7.0 (Nougat) or more recent Android operating systems, and be enabled for Near-Field Communication (NFC).
NFC allows customers to pay using their card, wearable or other contact-less wallet option of choice.
Managing executive for relationship banking at Absa Retail and Business Bank, Faisal Mkhize, said the bank’s mobile pay transforms smartphones and tablets into secure contactless payment terminals.
Mkhize said this marks another milestone in Absa’s journey to offering the business’ customers cutting-edge, tailor-made solutions.
“It is simple and easy to use. The merchant merely enters the amount due on their Android smartphone or tablet, and the customer can pay for the product or service by tapping their contactless debit or credit card on the merchant’s device.”
Traders can securely accept any card payment with no PIN required for transactions below R500. Contactless payments of R500 or more require a PIN.
Absa said there is no limit on the transaction value; only the shopper’s normal card payment limits will apply.
According to the bank, Absa Mobile Pay is cost effective as it eliminates monthly device rental and callout fees for point-of-sale terminal repairs.
“It also allows merchants to access all transaction information via the application, and to email or WhatsApp receipts to customers,” said Absa.
BUSINESS REPORT ONLINE