South African business owners now have access to the world’s-first mobile payment system, which will allow them to use their smartphones as card machines.
This, thanks to a partnership between Stafford Massie of Thumbzup Innovation, the creator of mobile payment system Payment Pebble, and Absa bank.
The system conveniently processes payments via a device that can be plugged into a smartphone or tablet.
Business owners can apply for the device via Absa’s website. Once approved, they can install the application onto a compatible mobile device.
The high-tech mobile payment software enables a registered user to transfer or receive money to and from an authorised bank account. The service is becoming popular in the small business sector.
This is because it allows traders and customers to make instant payments electronically.
The Payment Pebble service can be used anywhere where there is cellphone coverage.
After registering and paying a mandatory once-off R160 registration fee, a monthly fee of R50 will be charged to operate the service.
These are the steps to follow:
- Download the Payment Pebble app onto your smartphone.
- Plug the Payment Pebble into the device’s audio input.
- Use the provided one-time pin, to link your device to your merchant account.
- Begin processing payments instantly.
Since the device already has built-in safety features, such as secret pins and other recognition codes, the system can be used by traders of all sizes.
Customers’ fears can also be put to rest as the device protects the customer’s pin and bank account information by encrypting all the data that passes through the smartphone.
Both Absa and non-Absa bank account holders can make use of the technology.
In the case where a non-Absa bank account holder intends to use the system, a custom-made business current account is created for Payment Pebble upon registration. Once operational, traders can allow customers to make a payment by getting them to enter the payment amount, swiping their debit or credit cards and entering their pin.
A receipt is then sent to the customer by email or SMS.
The service fetches a 3.75 % service fee, deducted from the business account, and operates on a selection of Payment Pebble bundles and a data package .
Business owners, including sole proprietors, who are interested in the service must be fully operational, with no history of fraud.
By leveraging off Absa’s market presence in more than one country, means the Payment Pebble could reach at least three countries by the end of this year.
- Visit www.absa.co.za for more information on how to access the Payment Pebble.