Africa Nedbank

Nedbank is testing a new contactless payments solution that allows all merchants and business owners to convert their mobile phones into ‘payment acceptance devices’. In a first for Africa, Nedbank is currently the only bank to offer this capability. The ‘Tap-on-Phone’ solution is said to make it easier for SMEs to use their compatible smartphones to accept quick, easy, and secure, payments from their customers for goods or services. Nedbank says that this solution, which is inspired by the current COVID-19 pandemic and the resulting social distancing rules, enables contactless payment acceptance and there’s no health risk to the merchant or customer. “The challenges presented by COVID-19 demand that the world of payments evolves even quicker, and banks must respond by providing innovative...