by AKANI CHAUKE
JOHANNESBURG, (CAJ News) – THE Telkom Pay Mobile Point-of-Sale (mPOS) app is set to enable South African small, micro and medium enterprises (SMMEs) fully participate in the digital economy.
Telkom Financial Services has launched the app, which is a finance technology tool that allows business owners to make and receive payments through the mobile phone.
The app serves as a speed point machine.
Sibusiso Ngwenya, Telkom Financial Services Managing Executive, said the COVID-19 pandemic had accelerated the need for businesses to digitise their operations and become fully immersed in the digital economy.
“The app will enable businesses, who normally only take cash payments, to reach a wider customer base. It enables business owners to take their business digital without incurring drastic costs,” he said.
The Telkom Pay mPOS app is available to Android, Apple and Huawei users on the respective app stores.
It requires no paperwork or a physical point-of-sale device.
The pay-as-you-use solution has a rate of 2,5 percent.
Since 2020, Telkom Financial Services has introduced insurance, lending, and payment solutions to for SMMEs and customers.
In December 2020, Telkom introduced the Telkom Pay Digital Wallet, a payment service that allows consumers to make and receive payments through WhatsApp.
– CAJ News