Each stage of the card payment evolution has made it easier for merchants to take and process payments, do business and grow using both physical and digital channels.
From zip-zap to tap-tap
Each stage of the card payment evolution has made it easier for merchants to take and process payments, do business and grow using both physical and digital channels.
'It's incredible how far we've come and how this is the runway for doing so much more,' says Thokozani Dlamini, CEO: Commercial Segment, TxP Merchant Services.
Dlamini oversees the product house within FNB Business that is tasked with enabling digital payments, be they physically in-store or e-commerce based. He explains: 'We provide everything from the Speedpoint® point-of-sale devices in stores to links on e-commerce websites so people can pay through our payment gateway.'
Dlamini and his team operate in a fast-evolving sector that brings new, efficient technology into the local market - be it Bluetooth communication or a move to Android devices that also incorporate stock management or accounting systems to help the business owner.
For instance, notes Dlamini, right now the trend is towards bigger screens - rather than ever smaller devices - so people can interact more easily.
Multi-function is another key trend. Hence the launch of FNB's SpeedeeApp™ .
What is SpeedeeApp?
SpeedeeApp is a 'software-based point-of-sale (SoftPos) which runs off the FNB App', explains Dlamini. The technology enables merchants to accept card payments on their phones or devices with a simple tap, and without the need for a separate terminal.
The launch of SpeedeeApp on the cloud is a first in Southern Africa, notes Dlamini. 'FNB might not be the first in launching the SoftPos function but we are the first in launching it into the cloud rather than having the terminal sitting on the cloud. We've partnered with Visa to launch this, using Visa acceptance cloud.' The advantage of being on the cloud is that it is easier to update certifications.
SpeedeeApp joins FNB's SpeedeeQR offering as another platform-based solution. SpeedeeQR lets merchants generate QR codes to accept payments using the FNB App. Plus there are physical devices such as Speedee, which is printerless, mobile and fits in your pocket; as well as Speedpoint point-of-sale devices which are full function standalone terminals with printer and connected solutions.
Ultimately, Dlamini and his team aim to keep digital payments secure, fast and effective by spotting opportunities to enhance the existing range of business tools and solving solve day-to-day pain points for clients.
