Hellopay and Mastercard has announced a partnership to roll out SoftPOS, a contactless acceptance solution that turns any NFC-enabled Android device into a physical point of sale.
SoftPOS leverages Mastercard Tap on Phone, a simple and cost-effective digital payment technology developed for micro and small businesses like spaza shops, independent retailers, market stall traders, mobile servicemen and tradesmen who tend to operate in a cash economy due to the costs and complexity of obtaining traditional point of sale devices.
Hellopay’s ‘Tap on Phone’ solution is the result of a collaborative partnership between Nedbank, Mastercard, and SmartPesa.
The solution turns Android smartphones into secure payment acceptance devices for contactless cards, mobile wallets and even smartwatches — with no additional equipment or set-up costs.
Businesses can download the free mobile app and offer it to their customers immediately, providing consumers with a checkout experience that is flexible, seamless, intuitive and secure. The solution is ideal for low-value transactions and enables merchants to provide a faster checkout in store, as well as accept payment on delivery.
Amnah Ajmal Sharma, Executive Vice President, Market Development for Middle East and Africa, commented:
“The SMME market represents 98% of businesses in South Africa and has been deeply impacted by the pandemic. We recognise the overwhelming pressure that small business owners are currently facing and are committed to supporting them through COVID-19 and beyond by bringing our tools at a low cost and rapid time to market. Through our partnership with Hellopay, we can further support financial inclusion – especially among informal merchants –and help these businesses deliver new and best-in-class contactless consumer experiences using a device they already own: a smartphone”
Zunaid Miya, Managing Director, Financial Services Business at Hello Group, said:
“Eliminating the need for a dedicated terminal and enabling the merchant to use their cellphone to accept card payments is revolutionary and a significant game changer within the SMME sector. Lowering the barrier to entry for merchants to accept card payments is sure to result in a significant increase in the number of transactions settled via card. We are pleased to join forces with Mastercard to enable businesses like spaza shops, independent retailers, market stall traders, mobile servicemen and tradesmen to accept safe, and secure contactless payments.”
