{"id":8314,"date":"2016-07-16T12:37:32","date_gmt":"2016-07-16T08:37:32","guid":{"rendered":"http:\/\/www.intelligentcio.com\/africa\/?p=8314"},"modified":"2016-07-16T12:37:32","modified_gmt":"2016-07-16T08:37:32","slug":"south-africa-based-vcs-announces-virtual-pos-powered-by-masterpass","status":"publish","type":"post","link":"https:\/\/www.intelligentcio.com\/africa\/2016\/07\/16\/south-africa-based-vcs-announces-virtual-pos-powered-by-masterpass\/","title":{"rendered":"South Africa based VCS announces virtual POS powered by MasterPass"},"content":{"rendered":"

Small enterprises and mobile businesses can now accept digital card payments in-store, remotely or on-the-go using their connected mobile devices, following the launch of Virtual Card Service\u2019s virtual Point of Sale vPOS<\/a>, South Africa\u2019s first virtual payment solution.<\/p>\n

Powered by MasterCard\u2019s MasterPass digital payments platform, the vPOS provides a safe, convenient and easy way for merchants to be paid using their own connected mobile phone as a point of sale device, while consumers can pay for goods and services using MasterPass, a digital wallet.<\/p>\n

To sign up for a vPOS, merchants simply apply for an affordable merchant facility directly from Virtual Card Service, after which they download the vPOS app from their Android or Apple store and authenticate their credentials. To accept payment, they enter the transaction amount on the app\u2019s keypad and generate a MasterPass Quick Response code that is displayed on their own device.<\/p>\n

Consumers need to download the MasterPass<\/a> app from their app store, register, and load their credit, debit or cheque cards from any bank into the digital wallet. To pay, they simply open the MasterPass app on their mobile device and scan the QR code. They select the card they wish to use, enter their bank PIN number on their own device, and the transaction is complete.<\/p>\n

With the vPOS, merchants can increase revenues from accepting digital card payments, and reduce their exposure to the risks and costs of managing cash. Payment is immediate and is guaranteed, meaning that merchants no longer need to wait for Electronic Fund Transfers or cheques to clear. VCS also reconciles payment and Value Added Tax to offer even more efficiency and time-savings to the merchant and is more affordable than traditional POS or mobile POS devices.<\/p>\n

For consumers, MasterPass offers a simple, convenient, trusted digital platform that provides a fast, safe shopping experience. It enables consumers to pay for the things they want with the security they demand, using any connected device.\u00a0Unlike many other similar solutions, each MasterPass transaction is classified as an Authenticated Mobile Transaction by South African Banks, ensuring that consumers enjoy the highest protection from fraudsters.<\/p>\n