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11 Mobile Card Payment Solutions For Small Businesses

01 July 2020 | 0 comments | Posted by Shamima Ahmed in Money Talks

# Alternative Payment Methods for Small Businesses

The traditional point-of-sale card machines usually come with hefty bank charges and lots of red-tape, making it hard for the small business owner to acquire. These machines also work with cables and phone lines and are therefore tied to a specific location. If you are a small business owner with the on the go or pop-up business model, then this is not a viable solution for you.

Small business owners need mobility and flexible point-of-sales solutions

As a company who is looking to improve the visibility of small businesses online and give them access to premium marketing tools, nichemarket is fully aware of the challenges SME’s face with point-of-sales systems. This is not a one size fits all spectrum and business takes all shapes and sizes from the informal trader to the side hustler with dreams of breaking into the startup world.

Small businesses need the following out of their card payment solutions:

  • Minimal transaction fees
  • Mobile devices which are not tied to a physical store
  • Easy reporting and reconciliation tools
  • Simple integration straight into bank accounts
  • Easy setup and low maintenance

The good news is that most card payment providers have recognised this and a range of mobile point-of-sale systems, also known as mPOS is available on the market.

Introducing mobile point-of-sales (mPos)

Mobile point-of-sales or mPOS is a mobile device such as a smartphone, tablet or dedicated wireless device that performs the functions an electronic point-of-sale terminal or card machine. They also come with supporting software that integrates with your smart device so you can keep track of all your sales and income. Transaction fees are also usually kept at a minimum with these devices.

Most South African banks and card terminal providers have introduced some type of mPOS solution so small businesses have access to card payment solutions.

COVID-friendly payments

Some of these solutions also have non-contact payment methods available so they which is definitely handy during the reign of Rona. Making use of mPOS is also much safer than accepting cash payments and will help your business comply with COVID-19 protocols.

Different types of mPOS available in South Africa

There are two main types of mPOS solutions available, device-free solutions and dedicated mPOs devices.

Device-Free solutions usually work with payment apps integrated on your smartphone or tablets. Customers will usually have to have an app installed on their phones which is set up with all their card details and would scan a QR code to complete the transactions. Device-free solutions generally accept contactless payments which is always a pro. Vendor apps are usually free of charge to download for Android or IOS devices; however, merchants are typically charged a sign-up fee.

Physical mPOS devices are usually standalone and work with sim cards for connectivity, or integrate with a smartphone app to help complete payments from the vendor’s side. However, customers don’t have to have any extra apps installed or prerequisites to complete payments; they just swipe, insert or tap their cards to complete payments. mPOs devices usually have to be purchased which keeps down monthly charges. Although some vendors do offer a rental option.

Both device and device-free mPOS card payment solutions come with software suites to keep track of transactions.

Device-free mPOS solutions for small businesses

1. SnapScan

SnapScan is a payment solution that essentially turns your customers smartphone into a portable point of sale device. Customers download the app and complete the payment via scanning a QR code, with no extra hassle to you. SnapScan has solutions for physical locations and online. No monthly fees or minimum spend, just a standard 3% transaction fee is charged.

SnapScan also has a large adoption rate by many businesses and consumers in South Africa. Thus no need to worry about limiting your business transactions. Users simply download the SnapScan user app, setup their details, scan your barcode and complete payment.

More info at Snapscan.co.za

Bonus: Also has online payment gateway functionality and Signup fee of R250 has been removed for the period of the pandemic.

2. Masterpass by MasterCard

Masterpass works in the same ways as Snapscan or Zapper. Clients scan your QR code and pay via the Masterpass App. Masterpass users can also scan SnapScan QR codes as its all integrated and the team has plans to integrate more payment gateways in future.

Masterpass is available for both Nedbank and Standard bank account holders. The great feature about this product is you don’t have to buy or rent a card machine and you can present your QR code to customers in countless scenarios. Merchant fees would be negotiated between the merchant and your bank. You may incur additional costs to implement Masterpass for online or in-app purchases.

More info at Masterpass.nedbank.co.za and Standardbank.co.za.

Bonus: Also has online payment gateway functionality.

3. FNB GEO Payments

Easily send and receive money between FNB account holders. If you do your business banking with FNB, this may be an option for you. Making sure you are within 50 m of your customers’ device, log into your Banking Apps on your smartphone, and follow the instructions to complete the GEO payment. The only downfall is that you are limited to only receiving payments from other FNB accounts holders.

More info at Fnb.co.za

4. QR Speedpoint® by FNB

QR Speedpoint® is a feature on the FNB Banking App which allows you to generate a QR code to accept payments for goods and services on the move. The QR is compatible with most popular QR code scanner apps and the service is available to all FNB Business Account holders at no extra cost. Easy registration and integrates with your business bank account.

More info at Fnb.co.za

5. Zapper

Zapper is a mobile payment platform that also works with apps and QR code payment scanning. Customers scan the QR code with their Zapper App, complete payment and you get your money. , customer loyalty and rewards platform. Fees work on a tiered option for businesses sales; starting off with as little as R0 monthly fees and 2.9% transaction rate; which decreases as your monthly fees increase. All your receipts, stats and insights are readily available via the Zapper merchant app.

Zapper also comes with a built-in reward feature which you can set up and incentivise loyalty with discounts and savings.

More info at Zapper.com

Bonus: Also has online payment gateway functionality.

mPOS devices for small businesses

6. Yoco

Yoco provides card machines for instore or mobile use from only R799. Once you purchase the machine you can easily accept card payments and only pay when you transact (a max of just 2.95% (ex. VAT) on all sales over R50). Yoco also just launched an online payment gateway, which is free to use for all Yoco users.

More info at Yoco.co.za

Bonus:Pandemic Discount, solutions now start at R399. Also has online payment gateway functionality.

7. POSplus™ by Nedbank

POSplus™ is a mobile, online point-of-sale suite that makes it easy to sell to your customers anywhere. Process card payments, manage your stock and track sales with the point-of-sales app, accept all card payments with your mPOS device, integrate payment gateway online and get access to dynamic reporting and insights via the POSplus™ business portal.

More info at Posplus.co.za

Bonus: Also has online payment gateway functionality.

8. Sureswipe MOVE POS LITE

Sureswipe card machine solutions are a popular option for most established South African business. Now they have also released an mPOS option to help the small business owner. Sureswipe Move Pos Lite helps you process debit and credit card transactions, safely and securely, using your smartphone or tablet’s network connection. Simply connect the MOVE mobile card machine to your cell phone or tablet by integrating with the free mobile app and you are ready to accept card payments. Transaction rates are not specified but you can expect to pay up to 2.75% ex Vat.

More info at Sureswipe.co.za

9. BluMobi by Standard Bank

BluMobi offers you secure mobile POS card payment capabilities that’s perfect for fixed locations or on the go businesses. Simply pair the BluMobi app on your smartphone or tablet to a BluMobi device via Bluetooth and you ready to start accepting card payments. The BluMobi device can be rented for a monthly fee or purchased upfront and you pay a fixed rate for all BluMobi transactions with no maximum limits for transactions.

More info at Merchantsolutions.standardbank.co.za

10. Speedee® mPOS by FNB

Speedee® mPOS device works with a sim, so no cellphone is required to complete transactions. Simply set up the device and you ready to accept card payments. Contactless transactions are enabled on this device and receipts can be sent to the customer via SMS or email. You can view all transactions via a portal for all your reporting needs.

More info at Fnb.co.za

11. Verifone mPOS solutions

Verifone has two mPOS devices available to suit different client needs and budgets. Both solutions re fully encrypted and compatible with the latest smart devices and operating systems. Choose from the e208 which pairs with your mobile phone or tablet or the e285 which is a standalone mPOS solution.

More info at Verifone.com

Have anything used an mPOS solution before?

If you've used any of these mPOS solutions we've love to hear about your experience. If you have some feedback to help other small businesses or have anything to add to the list, simply comment below or contact us here.

Are you looking to promote your business?

South African small business owners can create your free business listing on nichemarket. The more information you provide about your business, the easier it will be for your customers to find you online. Registering with nichemarket is easy; all you will need to do is head over to our sign up form and follow the instructions.

If you require a more detailed guide on how to create your profile or your listing, then we highly recommend you check out the following articles. 

Recommended reading

If you enjoyed this post and have a little extra time to dive deeper down the rabbit hole, why not check out the following posts on small business.

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