Absa launches Mobile Pay

Finance · 11 Mar 2022

Absa announced that it has launched the Absa Mobile Pay app, this new app will allow users to turn their Android smartphone or tablet into a Point of Sale (POS) device to accept payments.

Created in partnership with technology firm WIZZIT Digital, this service is aimed at small to medium enterprises looking for a cost-effective solution with no monthly device rental or callout fees for POS terminal repairs.

According to Absa, users are only required to download the Absa Mobile Pay app from the Google Play Store – no additional hardware, plug-ins, card readers or dongles are needed.

The only requirement is that the merchant’s smartphone should support Android 7.0 (Nougat) or more recent Android operating systems and be enabled for Near-Field Communication (NFC). NFC allows customers to pay using their card-, wearable- or other contactless wallet-option of choice.

“The Absa Mobile Pay solution transforms smartphones and tablets into secure contactless payment terminals and marks another milestone in our journey to offering our business customers cutting-edge, tailor-made solutions,” says Faisal Mkhize, managing executive for Relationship Banking at Absa Retail and Business Bank.

It is simple and easy to use, adds Mkhize. “The merchant merely enters the amount due on their Android smartphone or tablet, and the customer can pay for the product or service by tapping their contactless debit or credit card on the merchant’s device.”

The solution allows merchants to securely accept any card payment with no PIN required for transactions below R500. For added security, contactless payments of R500 or more require a PIN. There is no limit on the transaction value that can be facilitated – the shopper’s normal card payment limits will apply.

Absa Mobile Pay is cost-effective – it eliminates monthly device rental- and callout fees for point of sale terminal repairs. It also allows merchants to access all transaction information by means of the application and to email or WhatsApp receipts to customers. While it is suitable for all businesses including corporates, it is primarily targeted at small and medium enterprises (SMEs), particularly those with on-the-go operations that previously only accepted cash or electronic (EFT) payments.

Several thousand transactions have already been processed, with an average value of R110 per transaction.

The Absa Mobile Pay solution has been certified by both Mastercard and Visa with regard to functional-, security- and branding requirements.

Written by: Staff Writer.

Guzzle Media