Leading South African bank Nedbank has released a point-of-sale (POS) app called PocketPOS allowing users to process credit and debit transactions through Bluetooth on a smartphone, as it eyes Small and medium-sized enterprises (SMEs).
“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,” Ingrid Johnson, Managing Executive of Retail and Business Banking, said at the launch on Saturday, February 9.
The fixed yet mobile POS enables businesses to transact while on the go without cash problems – especially practical for businesses providing services like plumbing, electricity and others who move around.
A first for South Africa, the app operates with certified EMV ‘CHIP & PIN’ technology, using reading and encryption for the protection and capture of information.
“PocketPOS is a first in South Africa and the only mobile POS device in Africa and the Middle East using ‘CHIP & PIN’ technology, which has been certified by MasterCard, Visa and American Express, with all the security usually included in a standard POS device,” explained Sydney Gericke, Managing Executive of Card and Payment at Nedbank.
The app is available on Apple iPhones and iPads (with the BlackBerry and Android versions soon to come) in two models differing in digital or physical receipt features, but costing the same.
Visa, MasterCard and American Express cards are accepted.
HumanIPO reported Nedbank’s announcement of transactional banking apps for Windows 8 and the Windows Phone 8 on November 7 last year.
The bank has also released MyFinancialLife, a free Personal Financial Management app in October and an app suite in 2012, among other mobile products.