Thursday, 29th September 2022
<To guardian.ng
Search
Breaking News:

NetPOS gets NIBSS approval, converts android phone to POS terminal

By Ngozi Egenuka
13 May 2022   |   3:36 am
NetPOS has secured approval from the Nigeria Inter-Bank Settlement System Plc (NIBSS) to roll out its Contactless App for commercial use in Nigeria.

NetPOS has secured approval from the Nigeria Inter-Bank Settlement System Plc (NIBSS) to roll out its Contactless App for commercial use in Nigeria.
 
The app converts NFC-enabled devices to accept card payment using contactless cards.
 
In a statement, Chief Commercial and Business Officer, NetPOS, Bamidele Omolehinwa, said that the app is a significant value-driven solution for micro and small enterprises (SMEs) businesses in Nigeria, which are often neglected by banks in Point of Sales (POS) issuance and can now take advantage of their mobile phones to accept payments.
 


He noted that the firm is currently in discussions with multiple commercial banks in Nigeria to make the app available to SMEs in Nigeria.
 
He said the app is leveraging technologies that have been certified in Nigeria and globally, making it a secure solution for payment transactions.
 
“The app’s embedded software that captures and submit card information for processing has been tested and certified, and has been built to ensure that a fraudulent merchant doesn’t capture consumer’s card information,” he said.

The app disables some part of the Android OS functionality such as recording and screen capture while operating the app to ensure malicious intentions to capture people’s data are not permitted,” Omolehinwa said.
 
Head, Merchant Services, NetPOS, Soji Ajayi, stated the company’s plans to work with other Fintechs to extend the reach and capabilities of the app.

In this article