Hellopay will pilot the solution with 1,000 merchants during the next 6 months
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.
We’ve reported that Mastercard expands Click to Pay technology to UAE.
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