What is it?
iVeri Tap-on-phone is a new payment feature on our mPress app that enables businesses to use compatible smartphones to accept cards, at no extra costs.
For Android 7.1 and up phone.
Accept payments anywhere, anytime.
No matter where your business takes you, with tap on phone you can accept card payments on the go. All you need is your smartphone.
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Grow your business, one tap at a time.
We all want things to be easier and quicker - and banking is no different.
With mPress tap on phone you can accept card payments with just one tap on your Android phone.
How does tap on phone work?
Download the latest version of the mPress app on your compatible smartphone*:
- Open your mPress app.
- Insert the transaction amount.
- Select the tap-on-phone option.
- Ask your customer to tap their contactless card on the back of your phone, and enter their card PIN when requested to do so.
And that's it - payment received, and transaction recorded. Securely process card transactions, with no hassle and no fuss.
0
%
Transaction fee for Visa and Master
0
%
Transaction fee for American express
R
0
0
Per Transaction
R
0
0
Settlement
What's the Costs?
Getting settled means that after accepting a payment with an iVeri mPess, the funds will be transferred into the merchant’s chosen bank account within 1–3 working days.
The amount settled will be less the iVeri’s transaction commission fee of 2.9% (ex VAT).
i.e R100 – (2.95% + R1.50) = R95.55
There is a settlement fee of R3.70 per settlement i.e. R3.70 every time money is settled into a merchant’s account. This fee is only applicable when a merchant trades and money is settled into the registered bank account. Therefore, if a merchant doesn’t transact this fee will not apply.
i.e R95.55 – R3.70 (settlement fee) = R91.85
Settlements are done on business days only and not on Saturdays, Sundays and public holidays.
NB: *We only settle daily transactions of R100 or more.
that's mPressive!!
