South Africa’s Nedbank today launched the first live EMV certified mobile point-of-sale (PoS) solution, PocketPoS, for small and medium businesses in South Africa.

The mobile PoS solution allows businesses to process debit and credit card transactions through the use of Bluetooth with a mobile application via Smartphone.

The mobile application portal which Nedbank says provides convenience, mobility, security and ease of access to banking, anytime, anywhere is targeted at small and medium-sized businesses that do not process sufficient card transactions to warrant a fixed PoS unit and those that want to be able to take payments on the move.

The new initiative supports Nedbank’s goal of providing seamless banking experiences for all the needs of business owners, including their business, employees and household.

Speaking at the launching of the product; Managing Executive of retail and business banking , Ingrid Johnson says, “Small to Medium-sized businesses are important to Nedbank, which is why we are delighted to introduce a solution that talks to the heart of any business operation: receiving payments in a safe, convenient, mobile and cost-effective way, as an alternative to cash.”

Johnson explained that the PocketPoS creates the opportunity for many smaller businesses to accept card payments; giving businesses on the move, such as plumbers, electricians or delivery services, the ability to reduce cash acceptance when making sales and processing payments on the road.

“The ‘PocketPoS is an exciting addition to our existing suite of business products, and one of several Nedbank is planning to introduce over the coming months as we build up to the second year of the Small Business Friday™ initiative in association with the National Small Business Chamber (NSBC),” she said.

The PocketPoS is designed to operate in South Africa where EMV ‘CHIP & PIN’ technology has been mandated. It uses a certified secure card reader and advanced encryption to capture and protect the card data and PIN.

“PocketPoS is a first in South Africa and the only mobile PoS device in Africa and the Middle East using ‘CHIP & PIN’ technology, which has been certified by MasterCard, Visa and American Express, with all the security usually included in a standard POS device,” Managing Executive of Nedbank card and payments, Sydney Gericke stated.

The PocketPOS comes in form of two secure card reader models. The first is a small device with a secure PIN pad that requires the merchant to capture an email address into the Smartphone application that sends a digital receipt to the captured email address once the transaction has been accepted. The second alternative device provides the ability to print out a physical receipt, much like in the case of a traditional POS.

Nedbank says both devices are the same cost.

For now, the devices PocketPOS product supports only Apple iPhones and iPads. It also accepts Visa, MasterCard and American Express cards. Nedbank says support for Android and BlackBerry devices will follow in the coming months.