SmartPesa, a specialised payments and agency banking technology solutions provider based in Singapore, today announced it is bringing softPOS – an innovation for contactless card acceptance on any NFC phone, tablet or hardware running Android – to Singapore and South East Asia.
This mobile-first approach allows for rapid onboarding of new merchants and the ability to significantly grow the number of businesses accepting card payments.
Working closely with leading global card schemes VISA and MasterCard, SmartPesa’s softPOS solution will have the capability to accept payWave and payPass Contactless debit and credit cards without the need for a physical terminal. In addition, softPOS also accepts Android Pay, Samsung Pay and Apple Pay payments.
SmartPesa’s existing white-label merchant payment application is softPOS ready. The development follows the card scheme guidelines for security and EMV certification. This complements the already launched and certified mPOS, miniPOS and Android POS terminals deployed in the region. Acquirers and banks benefit from the elimination of capital expenditure on terminals, which has traditionally hindered broad-based deployments.
With its proven and intelligent payment gateway, SmartPesa meets the high security standards and certification requirements to ensure full end-to-end transaction security. Cardholders can be confident their transactions are secure, while Merchants benefit from the convenience of accepting payments with greater ease.
“We believe this is a significant leap forward in terms of providing great convenience to merchants and providing more places for customers to pay with their existing contactless cards. The industry has been suffering confusion generated by an influx of new e-wallet startups, which may be counter-productive in terms of addressing ongoing payment fragmentation. SoftPOS takes a very focused, practical approach to provide efficient card payment by using just a mobile app,” said Barry Levett, Co-Founder & Chief Executive Officer of SmartPesa.
Contributed | what does this mean?