The African payment service Ukheshe Technologies has launched its first payment solution by wiretapping without certification. It’s certainly not the first pay-by-phone solution – not by a long shot. But it’s one of the first to offer the same speed without the need for certification. Usually, these methods are expensive to implement for small businesses. And it often takes a lot of work to make these methods work. Ukheshe makes sure that no hassle is needed.
If you’ve never heard of Ukheshe, don’t worry. We have what you need. ukheshe Technologies is an African company looking for ways to support digital financial inclusion. It operates in several countries, and South Africa is on this list.
Ukheshe’s new certification-free payment service allows any NFC (near field communication) enabled device to accept transactions over the phone. No certification (which is basically special software) is required to pass this. All you need to do is take your phone or card out of your pocket, touch it to the merchant’s POS system, and you’re good to go.
“The cost of a terminal is a barrier for these companies, not to mention the additional distribution and maintenance issues. This new technology combats the high costs of application certifications in the development and implementation of tap-on-phone solutions,” said Paul Selibas, director of Ukheshe.
Helping the world with digital solutions
No more expensive fees are required to set them up, and they can be set up in minutes on any NFC-enabled smartphone. Of course, if a merchant does not have an NFC smartphone, a small additional cost would be required to initiate these digital transactions. But compared to the prices of dedicated POS systems these days, you better not spend that money. At least this way you also get a smartphone.
And if you’re worried about security when tapping your card on a store phone, don’t be. The service’s payment system uses the same protection as chip bank cards.
“Ukheshe lowers the barriers to entry into accepting payments for businesses with easier, more affordable features and low friction registration. We are setting the trend; disrupting the traditional POS system. I think many players will rush to follow suit, because it is a game-changer,” says Selibas.
As easy as riding a bike
Using this new payment method is simple. When a merchant requests a payment, they must enable tap functionality on the phone. After that, customers tap their card like they do in any other store and the purchase is complete.
The application created by Ukheshe is known as Eclipse Payment Service Application (EPS). EPS is launched in less than a month. You can expect application on July 1. It’s in less than a month. After that, just about any South African business can accept payments with little setup. As long as they have the right phone, of course.