Banking apps to turn your smartphone into POS for your small business

Utilizing a smartphone to make and settle for funds just isn’t a brand new idea in South Africa. An app from Nedbank – often called Pocket POS –  has been round since 2020, and Absa’s Cell Pay was launched early final yr.

Normal Financial institution will quickly be introducing its SoftPOS (PIN on Glass) answer within the close to future.

These apps present the know-how for a quite simple however nifty thought. Mainly, Nedbank, Normal Financial institution and Absa have give you a method for customers to make use of their smartphone as a Level of Gross sales gadget. That is the place clients faucet their financial institution playing cards on the vendor’s cellphone and the vendor manages the transactions on the app.

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It’s a very useful gizmo for up-and-coming entrepreneurs who take their services to promote in far-off places and on the highway or for many who simply wish to enterprise right into a once-off entrepreneurial enterprise – like promoting snacks and drinks on the college’s expertise present or printed merch outdoors a music live performance.

Picture: Screenshot from Google Play Retailer.

These entrepreneurs not must spend money on cumbersome devices to conclude a sale. They simply must signal onto the app with a legitimate account and faucet the shopper’s financial institution card when prompted to take action.


So what’s the costing on one thing like this although? Nicely, there’s no month-to-month price to it however Absa does take 2.75% on a fee price for each transaction. Nedbank takes 2.5% if the shopper is paying with a Nedbank card and a pair of.75% for card funds from different banks. Normal Financial institution has but to launch that data.

Nedbank defined that its app was designed particularly for small-business house owners and the ‘occasional dealer’. It depends on a cellphone’s near-field communication capability and naturally the usage of the cellphone community information.

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From inception to now, each apps have been downloaded by a big variety of customers, with Absa seeing round 5 000 downloads and Nedbank round 50 000 obtain, however have obtained blended critiques.

Total scores

Nedbank’s PocketPOS’s general ranking was 2.2 out of 5 stars on Apple’s app retailer and three.3 on Google Play. Absa Cell Pay – solely suitable with Android and out there on Googly play retailer, obtain an general ranking of 4.1 out of 5 stars.

Absa Cell Pay customers stated that the app was simpler sufficient to make use of. However they have been involved about security options.

PocketPOS customers bemoaned the software program, stating that it was stuffed with points and problematic when it got here to logging in.

Picture: Screenshot from Nedbank PocketPOS app

For one more Gauteng entrepreneur nevertheless, particularly Lehubedu Mohlabe, the PocketPOS app impressed him to create a roadside hustle that was completely distinctive in its execution, because of the options of the app.

Take, faucet and go

Roadside entrepreneur, Lehubedu Mohlabe. Picture: Provided

Mohlabe has a enterprise referred to as CoffeeToCar.

Kitted out with a purpose-built vest that helps him carry cups, lids and prompt beverage mixes, he sells sizzling cups of tea and low on the curbside close to a visitors mild in Joburg. He sells to passers-by who’re late for work and needed to sprint out the home with out their morning pick-me-up, and may’t precisely make a espresso cease.

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Mohlabe is ready to hand his clients a piping sizzling cup of espresso, as they faucet their financial institution playing cards to his cellphone earlier than they drive off once more.

“My patrons are restricted to lower than 5 minutes typically to make the transaction. We don’t have time to fumble over money and alter whereas mixing the appropriate drink, at hand it to them on time for them to safe of their automotive cup holders earlier than driving off once more. So cost through this app works on this occasion. It’s simply take, faucet and go,” he stated.