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Mastercard brings mobile POS solution to South Africa

Hellopay will pilot the solution with 1,000 merchants during the next 6 months

Mastercard Hellopay

Mastercard brings mobile POS solution to South Africa. Source: shutterstock.com

Mastercard has teamed up with Hellopay, South African payments facilitator and the financial services arm of the Hello Group, to roll out SoftPOS. That’s a contactless acceptance solution that turns any NFC-enabled Android device into a physical point of sale.

This move is anticipated to boost digital payment acceptance at small informal enterprises in South Africa. It is likely to support consumers’ preference for touch-free payments amidst social distancing as well.

SoftPOS leverages Mastercard Tap on Phone, a 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 POS devices.

The solution turns Android smartphones into secure payment acceptance devices for contactless cards, mobile wallets, and smartwatches, with no additional equipment or set-up costs.

It is suitable for low-value transactions and enables merchants to provide a faster checkout in-store and accept payment on delivery.

The SMME market represents 98% of businesses in South Africa and has been deeply impacted by the pandemic. We recognize 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
Amnah Ajmal Sharma, Executive Vice President, Market Development for Middle East and Africa

We’ve reported that Mastercard expands Click to Pay technology to UAE.

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