South Africans using Apple and Google Android-based smartphones can look forward to being able to accept credit- and cheque-card payments using their mobile phones from early next month, thanks to a Cape Town-based start-up that is launching a new service called CheqOut next month.
CheqOut founder Bradley Elliott says the service will also support BlackBerry devices in coming months. The service is aimed mainly at small businesses with low turnover that can't justify the cost of a dedicated card machine for accepting payments. It's similar, in a way, to the popular Square solution available in the US.
Those wishing to use the service will receive a card reader for free, with CheqOut recouping the money from the fees it levies on transactions. Though the fee structure has already been finalised, Elliott says this won't be made public until the official launch in early April.
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