Thursday, July 3, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Africa

Nedbank Begins Testing its Contactless Payments Solution in South Africa

Tech Gist Africa by Tech Gist Africa
07/10/2020
in Africa, Africa News, News
0 0
0
Nedbank Begins Testing its Contactless Payments Solution in South Africa

Photocredit: techmoran.com

0
SHARES
Share on FacebookShare on Twitter

Nedbank has begun testing its contactless payment cards in South Africa. Customers can simply tap their cards for payments of up to R500 without having to provide transactional PINs. On the other hand, payments above R500 will still require a PIN. This contactless payment solution is the first “tap and pay” method in Africa.  

Nedbank says that the COVID-19 pandemic inspired the payment solution. “The challenges presented by COVID-19 demands that the world of payments evolves even quicker. Hence, banks must respond by providing innovative ways for businesses to connect with their customers through easy and inclusive contactless payments solutions,” says Ciko Thomas, Nedbank Group Managing Executive for Retail and Business Banking. 

He went further to say that the solution saves businesses the cost of procuring a Point of Sales (POS) machine, as well as data for processing transactions.


See also: LG Officially Unveils its First 5G Smartphone in South Africa 


Nedbank’s contactless payment card can be used on machines (ATMs and smartphones) that have the Near Field Communication (NFC) symbol.  The customer would have to input payment details on the bank app before the contactless card is used to complete the transaction. 

A customer has to slot in the card to be able to use machines an ATM that doesn’t have the symbol. Also, note that the user can disable the contactless functionality on Visa and Mastercard cards but cannot for an American Express Card. Small business owners can also use its “tapped on phone” nature to convert their smartphones into payment accepting devices.   

The “tap and pay” method was introduced via a collaborative partnership between Nedbank, Mastercard, iVeri, and Synthesis. The feature is still in its pilot stage and has been distributed to few merchants, individuals and business owners to test. The client base will increase in the second half of 2020, and the technology will be made available to all Nedbank clients and third-party application developers afterwards.

 

More on TechGist Africa:

  • Tech Businesses Profiting from COVID-19 Outbreak 
  • Uber Acquires Postmates for $2.65 Billion, a Food Delivery Startup in the US
  • Is FinTech the wildcard to African SME recovery?
  • Crenov8 Installs Smart Disinfection Gate at Nigerian Consulate in Dubai
  • Fintech Company, MFS Africa Acquires 100% Stake in Beyonic for an Undisclosed Sum
ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

Apple WWDC 2025
Events

Apple Unveils iOS 26, macOS Tahoe, and AI Innovations at WWDC 2025

by Tech Gist Africa
06/15/2025
0

Apple kicked off its annual Worldwide Developers Conference (WWDC) with a series of announcements highlighting significant advancements in software design...

Read more
Zero Carbon Charge South Africa

Zero Carbon Charge, a South African startup secures US$5.6 Million investment

06/15/2025
Kera Senegal

KERA, a Senegalese E-Health Startup Secures $10 Million Funding

06/15/2025
Nile South Africa

Nile, a South African Agri-Tech Startup Secures $11.3 Million in a funding round

06/15/2025
DHL Group

DHL Group to Invest $575 Million in Healthcare and Logistics Expansion Across Africa and the Middle East

06/15/2025
Next Post
The Big 5 Daily: 9th July 2020

The Big 5 Daily: 9th July 2020

Facebook CEO Mark Zuckerberg

Facebook to Launch Digital Marketing Program for Kenyan Tourism & Hospitality Sector

The Big 5 Daily: 10th July 2020

The Big 5 Daily: 10th July 2020

No Result
View All Result

The Big 5

Blockchain

The Role of Blockchain in Enhancing Africa’s Financial Systems and Security

by Tech Gist Africa
06/30/2025
0

...

Artificial Intelligence

How Artificial Intelligence is Transforming Industries Across Africa

by Tech Gist Africa
06/23/2025
0

...

Africa startups

Kenyan Startups Invited to Apply for €100,000 develoPPP Ventures Grant

by Tech Gist Africa
06/15/2025
0

...

Neuralink Elon Musk

Neuralink Secures $650 Million in Series E Funding to Advance Brain Implant Technology

by Tech Gist Africa
06/15/2025
0

...

Telegram Grok

Telegram Scores $300 Million xAI Deal to Integrate Grok Across One Billion Users

by Tech Gist Africa
06/15/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.