Accounts
Bank how and when you choose to, with the low fees or extra benefits you want.
Credit cards
Shop online or instore and earn rewards for it, with up to 55 days interest-free credit.
Personal loans
Personalised interest rates for affordable loans from R2,000 to R300,000.
Home loans
Loan up to 100% of the property value or up to 105% if you are a first-time buyer.
Accounts
-
Everyday banking
Safety, convenience and rewards
-
Youth banking
For under 16s, or under 25s
-
Private Clients
For a professional banking experience
-
Digital wallet
Your phone is your bank account
-
Private Wealth
The globally integrated account
-
Goal saving
Easy access to interest earned
- Refugees and asylum seekers
Credit cards
Rewards
Ways to bank
Accounts
-
On demand
Money available at any time
-
In 24 hours
Cash in your hand the next day
-
In 32 days
Funds ready within a month
-
End of term
Investments left until maturity
Personal loans
Home loans
Student loans
Overdrafts
Blog
Talk to us
Find us
- Login & Register
- Online Banking
- Online Share Trading
- NetBank Business
- NedFleet
- Nedbank Greenbacks
- Register for Nedbank ID
- Accounts
- Everyday banking
- Youth banking
- Private Clients
- Digital wallet
- Private Wealth
- Goal saving
- Refugees and asylum seekers
- See all accounts
- Get help choosing
- FAQ
- How-to guides
- Everyday banking
- Savvy Bundle Platinum
- Savvy Plus Gold
- Pay-as-you-use
- Youth banking
- Nedbank4Me
- Unlocked.Me
- Private Clients
- Pay-as-you-use
- Young Professionals
- Private Bundle and Private One
- Digital wallet
- MobiMoney
- Private Wealth
- Private Wealth Bundle
- Goal saving
- MyPocket
- Refugees and asylum seekers
- American Express
- Amex Gold
- Amex Platinum
- Rewards
- Ways to bank
- Save & Invest
- Accounts
- On demand
- Club
- Money Market
- Stokvel
- In 24 hours
- JustInvest
- PlatinumInvest
- Tax-free Savings
- MoneyTrader
- Tax-free Fixed Deposit
- EasyAccess Fixed Deposit
- PrimeSelect
- In 32 days
- Electronic 32Day Notice
- 32Day Notice
- End of term
- Electronic Fixed Deposit
- Electronic Optimum Plus
- Platinum Fixed Deposit
- Fixed Deposit
- OptimumPlus
- Personal loans
- Consolidation loan
- Secondhand car loan
- Home improvement loan
- Exclusive short-term loan offers
- Explore loans
- FAQ
- How to guides
- Consolidation loan
- Secondhand car loan
- Home improvement loan
- Exclusive short-term loan offers
- Home loans
- Building loan
- Switching home loan
- Repossessed properties
- Start your home buying journey
- Solar Energy Finance
- Explore home loans
- FAQ
- How to guides
- Track application
- Building loan
- Switching home loan
- Repossessed properties
- Start your home buying journey
- Solar Energy Finance
- Student loans
- Explore student loans
- Overdrafts
- Learn
- Blog
- Blog
- Contact us
- Talk to us
- Find us
- Talk to us
- Find us
Get paid on your (compatible) smartphone
Get paid on your (compatible) smartphone
Staff writer
Posted 05/12/2021 Updated 17/12/2021 3 mins
PocketPOS now lets customers tap on your phone or scan a QR code to pay you.
Every business owner knows the first rule of business is to ‘get paid’. But for small or occasional traders that is easier said than done, especially if you want to accept card payments.
Not anymore! You can now use your smartphone as a payment device. All you need is a compatible Android smartphone, and all your customers have to do is tap or scan a QR code to pay.
Yes, you read that right – your customers can now just tap their card on your smartphone to pay. Your phone will obviously need to have certain minimum specifications and functionality for this to work, but the convenience of quite literally carrying your till around with you is beyond awesome.
How it works
Small-business owners have long enjoyed the convenience of Nedbank’s PocketPOS system, combining the features of a mobile app with a card-payment device. Once you’ve signed up, downloaded the app and bought your device, you can accept chip-and-PIN card payments as easily as any of the main retailers.
The app generates the invoice and then relays it to the PocketPOS device using Bluetooth. Customers can then tap or insert their card and PIN to pay. The device accepts all credit and debit cards, including Mastercard, Visa and American Express.
All of that functionality has now been digitised and is available in-app if you have a compatible Android phone with near-field communication (NFC) functionality, which is the technology behind contactless payments on debit and credit cards, as well as services like Samsung Pay, Huawei Pay and Apple Pay.
Instead of customers tapping on the PocketPOS device, they can now simply tap your phone for transactions of any value. Your customer may be asked to enter their card PIN on the PocketPOS app if they have exceeded their verification limit. This is safe for the cardholder, as the PIN is encrypted and is not accessible by anyone.
You can also generate a QR code with the PocketPOS app that can be read and paid using Masterpass. If you’re not familiar with Masterpass, then it’s well worth exploring, because a growing number of customers are using digital payments like this linked to their bank cards.
Technical requirements
For the time being, only certain smartphones are compatible with the tap-on-phone features, although many more can use Masterpass.
So, if you want to accept tap-on-phone payments you’ll need to get a phone that has NFC capability. Also, this phone has to run Android version 8.0 or later and must be compatible with Google. Being ‘Google compatible’ means the phone came preloaded from the factory with Google Play and Google Services. This ensures that the device has been validated by Google and meets certain security standards needed for secure payments.
While Apple devices are not compatible with the tap-on-phone functionality at this stage, Masterpass payments can be processed if the device meets certain requirements, for example the latest version of the operating system and Masterpass app.
What it costs
The tap-on-phone service or Masterpass app can be used without a monthly subscription or service fee, although you do pay commission on the value of every transaction – 2.5% (excluding VAT) for a Nedbank account, and 2.75% (excluding VAT) for accounts at other banks.
Apart from this, you only need to cover the cost of your phone and the data you use for your transactions. Unlike the stand-alone PocketPOS device, your phone also doubles up as an essential business tool for calls and online services to run your day-to-day operations.
And because you’re a merchant using the PocketPOS app, you have access to the Nedbank Merchant Helpdesk that’s available from 07:00 to 21:00 every day of the year on 0860 114 966.
Apply today to sign up as a merchant using the PocketPOS tap-on-phone features.