How Standard Bank Merchant Tap to Pay Services Work
Standard Bank Tap to Pay is a card payment system designed for secure, quick and easy payments for small payment amounts. The service is ideal for low ticket value transactions, so customers don’t have to wait in long queues to pay.
It offers payment solutions that suit your unique needs.
How It Works
Customers tap their Tap to Pay card onto a terminal and the payment is processed without needing a PIN or signature.
- If a customer accidentally taps their card more than once, the system only processes a single bill.
- Merchants cannot be held responsible for lost cards or for any fraudulent card use.
- The tech used for Standard Bank Merchant Tap to Pay is reliable, convenient and secure.
- Merchants also have the benefit of free software upgrades and product training.
- There is also same-day settlement to merchants with Standard Bank accounts.
Banks in South Africa are constantly seeking new skills as they roll out new functionality across corporate banking, retail banking, insurance and finance services.
There has been an influx of innovative fin tech and digital banking competitors against conventional bankers.
More banking institutions in the country have released contactless card payment instruments. This eliminates the need for cards to be inserted into terminals at pay points and instead, customers can simply tap their cards at the pay point to pay. Through the Standard Bank Merchant Tap to Pay service, merchants can eliminate the need for long queues. Customers can save a lot of time by paying for small amounts using the service.
Benefits for Customers
These payments are the next move in the digital era, designed to make payments more efficient and safe. Payments are around 33% faster than normal PIN-based transactions.
You can rest assured that your transaction is secure, as there is no chance of your card being skimmed by retail or restaurant personnel.
Another benefit is that you don’t have to worry about carrying cash around.
