MENU

Mastercard, Nedbank create digital payment ecosystem for businesses

September 11, 2018 • Finance, Southern Africa, Top Stories

Mastercard, Nedbank create digital payment ecosystem for businesses

Mark Elliott, division president of Mastercard Southern Africa.

Nedbank has partnered with Mastercard to launch Qkr! with Masterpass, a mobile order-ahead and payment platform developed by Mastercard Labs and Nedbank POSplus as part of their efforts to open up new revenue channels for merchants and enable them to meet the demand of today’s connected shopper.

The new Nedbank POSplus and Qkr! (pronounced Quicker) offerings were officially launched on Friday. According to Dayalan Govender, Managing Executive: Card, Payments and Transactional for Nedbank Retail and Business Banking, they epitomise Nedbank’s commitment to delivering value-adding payment solutions that go far beyond mere transactional capabilities.

“A key way in which we are delivering on this commitment is through the development of highly functional digital payment ecosystems that not only make it exceptionally easy for customers to make payments and for merchants to accept payments, but also provides merchants with a range of tools to efficiently manage and grow their business. The feature-rich POSplus and Qkr! offerings exemplify this ecosystem,” he continued.

The Qkr! payments platform, which Nedbank is offering in partnership with Mastercard, enables consumers to seamlessly order and pay for goods and services via their smartphone without having to wait in line or for a restaurant server. Consumers can also order goods ahead of time to be collected later – skipping queues and wait times – or even have these delivered. Furthermore, Qkr! makes it possible for diners to quickly order and easily split the payment for their restaurant bills without adding to the administrative burden of the establishment.

It uses Masterpass, Mastercard’s global digital payment service, to speed up the checkout process without requiring consumers to enter their financial and shipping information at every new merchant site.

“Today, we’re looking for convenience in all parts of our lives. Though grab-and-go retail is becoming increasingly popular with those on the move, consumers maintain high customer service expectations. Qkr! with Masterpass provides them with a frictionless retail experience – bringing together self-service, fast, seamless payments and card safety and security in new ways,” says Mark Elliott, division president of Mastercard Southern Africa.

And according to Elliott, the many benefits of Qkr! are not exclusively reserved for consumers; they extend to businesses as well. “Qkr! with Masterpass is an excellent way for businesses to ensure they stay top of mind with their clientele thanks to innovative push technology that makes marketing, promotions and customer engagement easy and effective.”

The platform’s web-based, self-service portal can be integrated to the retailer’s POS system, helping them to view and manage menus, product inventory and pricing, while providing access to rich, reporting information in real time. Retailers who already have their own mobile app can easily integrate Qkr! APIs and incorporate the feature-rich, Qkr! functionality into their own apps.

POSplus builds on Nedbank’s established reputation as a leading provider of simple, effective point-of-sale (POS) devices, which the bank first achieved in 2013 with the launch of South Africa’s first fully mobile acceptance device, Nedbank PocketPOS™.

The new POSplus solution elevates mobile point-of-sale to an entirely new level thanks to an improved physical POS device that allows for acceptance of Mastercard, Visa, Amex payment cards. POSplus also can generate a Masterpass Quick Response (QR) code, enabling consumers to securely and conveniently pay with any payment card loaded in the Zapper or Masterpass app by scanning the QR code with their smartphones.

“It also links to a full-function online business management portal. This allows merchants to manage stock and suppliers, promote products, issue and redeem vouchers, and even design and deliver a fully-fledged e-commerce store complete with customer engagement and loyalty programmes,” explains Govender.

“Nedbank continues to focus on relevant innovation,” Govender concludes, “for us, the primary purpose of innovation, particularly in the digital space, is to ensure that we constantly meet the evolving needs of our clients – and the new POSplus and Qkr! offerings are tangible evidence of this commitment to listening to our clients and responding to their needs in innovative, market-leading ways that add real value to their lives and businesses.”

Edited by Fundisiwe Maseko
Follow Fundisiwe Maseko on Twitter
Follow IT News Africa on Twitter

Comments

comments


Comments are closed.

« »