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Contactless Payments Now Supported by Nedbank & Synthesis - IT News Africa | Business Technology, Telecoms and Startup News

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South African bank, Nedbank has partnered with Advanced Consulting Partner Synthesis to develop a software-based point-of-sale (POS) system.

The solution, built on Amazon Web Services , can be installed on smartphones without any additional hardware. This allows single operators or small businesses to accept contactless payments easily, lowering the barrier to entry for the country’s retail industry.– A diversified financial services provider, is one of Africa’s largest banking groups, with operations in South Africa, Namibia, Eswatini , Mozambique, Lesotho, and Zimbabwe, and offshore in the Isle of Man and Jersey.

The Solution enables individual sellers or small retail shops to accept payments with only a compatible smartphone. When licensing a solution from one of the global card payment giants proved to be costly in the long run, the bank opted for a different approach – its trusted technical delivery collaboratorwhich led to the birth of its cloud-based digital payment solution. This puts Nedbank on the map, as the first bank in Africa to offer a SoftPOS solution.

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