Nedbank launched Mobile Money solutions "PocketPoS" for SMEs

Nedbank launched its first mobile money point-of-sale (PoS) solution, PocketPoS, for small and medium businesses in South Africa.

The mobile PoS solution allows businesses to process debit and credit card transactions through the use of Bluetooth with a mobile application via Smartphone.

Nedbank is pitching PocketPOS to small and medium-sized businesses that don’t process sufficient card transactions to warrant a fixed POS unit and at those that want to be able to take payments on the move.

Nedbank PocketPoS

Nedbank bring two models of PocketPOS.

Both card-reader devices have a keypad so that customers can input their Pin code

The small device with a keypad that requires the merchant to enter an e-mail address using a special smartphone application that sends a digital receipt to the captured e-mail address once the transaction amount has been accepted.

The second model offers the ability to print out two physical receipts one for the merchant and one for the customer of the sort a traditional POS would.


Please note

Nedbank said at launch PocketPOS products will support only Apple iPhones and iPads. Support for Android and BlackBerry devices will follow in the coming months, Nedbank says. The devices accept Visa, MasterCard and American Express cards.

Using the smartphone app, merchants can view detailed transaction histories. The devices are charged using micro USB and Nedbank claims a single charge can perform 200 transactions.

Nedbank says it will offer a choice of innovative pricing bundles, allowing business clients to select the bundle most applicable to their transaction volume. Clients will have the flexibility to upgrade from one bundle to another should their transaction volume increase. The cost of the device will be included in these bundles.

PocketPOS will initially be used by a small, selected group of existing Nedbank clients and this number will be gradually increased to scale during the second quarter of 2013.

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