SA Companies Adopting ‘Tap-n-Go’ Cashless Payment Systems

South Africa’s retailers, financial institutions and brands are gaining pace with international competitors in adopting technologies such as near-field communication (NFC) for mobile and cashless payments. Two years ago, it was predicted that the high cost of installing point-of-sale terminals and other enabling infrastructure would hamper adoption. However, several companies have implemented such systems so that consumers can easily and quickly transact using cashless payment methods wherever they are.

NFC is a wireless technology that gives you the ability to tap your smartphone or a preloaded card against a credit reading device or a tag that is NFC-enabled. In one simple tap, you are able to transact and make payment. In addition, NFC technology allows users to tap their smartphones to access information, swop contact details or order services, such as hiring a taxi. Local organisations such as the Cape Town MyCiTi bus service, Absa, and Cricket South Africa have been utilising the ‘Tap-n-Go’ technology with growing success.

Webtickets, South Africa’s market leader in integrated online ticketing solutions, recently introduced NFC’s ‘Tap-n-Go’ technology as an effective event management solution. Event-goers preload their Webtickets cards using cash or coupons and once they’re at the event or festival, purchases can be made for food, drinks or promotional goods by simply tapping the card against the vendor’s NFC-enabled device. This system works even when the event is technically offline and is most convenient at events where cash machines or ATMs aren’t readily available.

From a vendor perspective, venue operators are now able to track sales, accurately determine and offer commission on sales, and use the data from purchases to streamline their offering to event-goers.

Webtickets’ cashless payment system works with existing devices, such as Samsung smartphones and tablets, and the app can be readily downloaded. Jonathan Wayne, Co-Founder of Webtickets, says, “We have been working with our technical partners to develop and introduce a cashless ‘Tap-n-Go’ system that would benefit both our event-goers and venue operators. Our cashless payment system is not only convenient and easy-to-use but it also reduces the potential of fraud for vendors”.

Wayne adds that cashless ‘Tap-n-Go’ and mobile payments are rapidly becoming the way to do business. “We felt it was imperative to offer our customers and clients an innovative payment solution, and in so doing, increase their purchasing and event management convenience. We always strive to be the forerunners technologically in online ticketing retail, and event-goers can experience the benefits of our cashless payment system at the upcoming FNB JoburgArtFair due to take place at the Sandton Convention Centre from 22-24 August.”