Nedbank has launched the Nedbank PocketPOS, the first live EMV-certified mobile point-of-sale (POS) solution in South Africa that enables businesses to process debit and credit card transactions by using a smartphone connected to a secure card reader.
“At Nedbank, we seek to provide our clients with a choice of distinctive, client-centred banking experiences and continuously innovate to deliver on this.
“Small to medium-sized businesses are important to Nedbank, which is why we are delighted to introduce a solution that talks to the heart of any business operation: receiving payments in a safe, convenient, mobile and cost-effective way, as an alternative to cash,” says Ingrid Johnson, group MD: Nedbank Retail and Business Banking.
“PocketPOS is an exciting addition to our existing suite of business products, and one of several Nedbank is planning to introduce over the coming months as we build up to the second year of the Small Business Friday initiative in association with the National Small Business Chamber (NSBC),” Johnson adds.
PocketPOS is suitable for any business that wishes to accept card payments securely without access to a fixed data or telephone line or where low frequency of card acceptance does not warrant the higher rental cost of a traditional POS device.
“It creates the opportunity for many smaller businesses to accept card payments where this would not have been considered feasible up to now. It gives businesses on the move, such as plumbers, electricians or delivery services, the ability to reduce cash acceptance when making sales and processing payments on the road.
“Effectively, we believe PocketPOS will change the way they do business,” says Sydney Gericke, managing executive of Nedbank Card and Payments.
PocketPOS is designed to operate in South Africa where EMV “CHIP & PIN” technology has been mandated, and uses a certified secure card reader and advanced encryption to capture and protect the card data and PIN.
The solution comes in the form of two different secure card readers. The first is a small device with a secure PIN pad that requires the merchant to capture an e-mail address into the smartphone application and, on acceptance of the transaction amount, sends a digital receipt to the captured e-mail address.
The second, alternative, device provides the ability to print out a physical receipt, much like in the case of a traditional POS. Both card reader devices have a secure PIN pad for PIN entry and utilise Bluetooth technology to connect to the smartphone.
“At Nedbank, we seek to provide our clients with a choice of distinctive, client-centred banking experiences and continuously innovate to deliver on this.
“Small to medium-sized businesses are important to Nedbank, which is why we are delighted to introduce a solution that talks to the heart of any business operation: receiving payments in a safe, convenient, mobile and cost-effective way, as an alternative to cash,” says Ingrid Johnson, group MD: Nedbank Retail and Business Banking.
“PocketPOS is an exciting addition to our existing suite of business products, and one of several Nedbank is planning to introduce over the coming months as we build up to the second year of the Small Business Friday initiative in association with the National Small Business Chamber (NSBC),” Johnson adds.
PocketPOS is suitable for any business that wishes to accept card payments securely without access to a fixed data or telephone line or where low frequency of card acceptance does not warrant the higher rental cost of a traditional POS device.
“It creates the opportunity for many smaller businesses to accept card payments where this would not have been considered feasible up to now. It gives businesses on the move, such as plumbers, electricians or delivery services, the ability to reduce cash acceptance when making sales and processing payments on the road.
“Effectively, we believe PocketPOS will change the way they do business,” says Sydney Gericke, managing executive of Nedbank Card and Payments.
PocketPOS is designed to operate in South Africa where EMV “CHIP & PIN” technology has been mandated, and uses a certified secure card reader and advanced encryption to capture and protect the card data and PIN.
The solution comes in the form of two different secure card readers. The first is a small device with a secure PIN pad that requires the merchant to capture an e-mail address into the smartphone application and, on acceptance of the transaction amount, sends a digital receipt to the captured e-mail address.
The second, alternative, device provides the ability to print out a physical receipt, much like in the case of a traditional POS. Both card reader devices have a secure PIN pad for PIN entry and utilise Bluetooth technology to connect to the smartphone.