South African Bank, ABSA, and payment innovations company, Thumbzup, are partnering to launch a mobile payment device, Payment Pebble, that will enable small businesses and entrepreneurs to accept debit or credit card payments through smartphones or tablets.
“The ABSA Payment Pebble” is a small card-reader device that can be plugged into the audio input on any mobile smartphone or tablet and used along with a mobile application. Payments will be made through a world first, plug-in device.
“One of the key differentiating features of the technology is its ability to enable safe and secure payment acceptance as a pin entry device, for both chip and magnetic swipe strip cards”.
Once the mobile app has been downloaded and the entrepreneur or business has registered for the service and received a pre-configured device, payments can be made via debit or credit card.
No other mobile acceptance device allows merchants to process payments remotely with a plug-in device, said ABSA head of retail markets, Arrie Rautenbach.
“It is a game-changing innovation with the potential to transform the way in which entrepreneurs can safely accept offsite payments.”
He also said the deal with Thumbzup offered the potential of expanding into other African countries through ABSA’s parent company, Barclays.
The ABSA Payment Pebble is scheduled to be available as a value-added service from early 2013.