ABSA launches Mobi Tap

The new product, known as a Soft Point of Sale (SoftPOS), will allow merchants as well as Small, Medium and Micro Enterprises to accept payments from customers by simply tapping their cards on mobile smart devices as opposed to traditional point of sale terminals. The bank said this will transform the way business owners operate. According to Absa, the new solution will be a quick win for businesses that do not have immediate access to physical POS terminals, as payments can be accepted anywhere, anytime via their NFC enabled Smart devices.

Speaking at the launch, Absa Botswana’s retail director, Valeta Mthimkhulu explained that the bank was pushing ahead in innovations that make business easier for merchants and transactions. Mthimkhulu further explained that another key benefit of this SoftPOS application is lower recurring fixed costs, as there is no need for any additional hardware procurement. In addition, all transactions carried out through the Absa Mobi Tap solution will be just as secure as on a “classic” POS device.