Mastercard joins forces with Netcash to roll out QR Code Billing Service for SMEs.

Mastercard joins forces with Netcash to roll out QR Code Billing Service for SMEs.

Mastercard has joined forces with  Netcash to roll out Quick Response (QR) code payments in a bid to help Small and Medium Enterprises (SMEs) to collect revenue effectively.

This QR payment system hopes to meet the demand of today’s connected consumers who are increasingly seeking easy and contactless ways to pay their bills during social distancing.

Mastercard is a global payments and technology company that provides payment processing products and solutions as well as related consulting services.

On the other hand, Netcash is a payment provider to businesses and organizations of all sizes throughout South Africa offering quality payment services.

With this new partnership with Mastercard, Netcash will enable merchants to accept card payments from selected Masterpass-enabled digital wallets across various channels which includes physical or digital invoices and eCommerce sites.

Users can pay their bills by scanning the QR code with allowing Masterpass digital wallet, the Scan to Pay functionality in the Nedbank or FNB banking apps, or with Zapper.

Thereafter, the would select the payment card they wish to use and enter their bank card’s ATM PIN or One Time PIN number to authorize payment. Their account will be updated immediately.

Country Manager for MasterCard, South Africa,  Suzanne Morel said, “We are proud to partner with Netcash at a time when small businesses and merchants need an affordable payments solution to meet consumer needs as they are increasingly looking for contactless ways to settle their bills during this time of social distancing.”

“This also frees South Africans from having to withdraw cash, hand over their payment card, or load a new beneficiary onto Internet banking. Now they can pay for an extensive range of services and bills, anywhere, anytime they want simply by scanning a QR code,” Morel added.

This QR code billing service comes at a time where businesses are advised to use contactless payments to mitigate the spread of Coronavirus as countries are lifting the ban on various restrictions.