Telkom Business has launched a new solution aimed at SMEs who do not necessarily have the budget to roll out a fully fledged point of sale system, with Telkom Pay mPOS now available to those with a phone running iOS, Android or HMS.

As we have seen throughout the pandemic, the embracing of digital solutions has proved critical for those in the SME and micro business sectors, with apps in particular holding value.

Through the app, Telkom Business says owners can register to begin to receive payments in a matter of minutes.

This is a pay-as-you-use solution with a rate of 2.5 percent on transactions, the company confirms. It also includes a virtual card that is built into the app where businesses can transfer funds from the app to their business accounts and can replenish inventory from their suppliers using the EFT functionality.

“The COVID-19 pandemic has accelerated the need for businesses to digitize 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,” highlights Telkom Financial Services managing executive, Sibusiso Ngwenya.

“Telkom Pay mPOS is not just a point-of-sale machine. It is a solution that allows businesses to access an array of business functionalities all in one app. Business owners can receive payments from customers by simply tapping their cards or scanning a QR code, they can also use the app to pay employee salaries,” Ngwenya adds.

At the time of writing, we are yet to see the Telkom Pay mPOS app listed on the App Store or AppGallery, but you can take a closer look at it here for the Play Store.