Nedbank now allows merchants to accept payments directly on their phones using tap-to-pay technology.
In effect, this allows business owners to convert their mobile phones into payment acceptance devices.
Ciko Thomas, group managing executive at Nedbank Retail and Business Banking, said tap on phone uses the same strong security as physical payment terminals and meets Mastercard and Visa requirements.
Pilot phase
Tap on phone is the result of collaboration between Nedbank, Mastercard, Synthesis and iVeri.
The tap-on-phone functionality is in pilot phase and has been provided to a selection of Nedbank merchants, including individual and business clients.
