OCBC Bank and MOBY Group are collaborating to enable small and micro merchants with pop up stores or kiosks to widen their payment collections beyond QR pay and cash.
Now, merchants are able to accept credit and debit card payments through their mobile phones with the SmartPay solution.
In addition, small and micro merchants who register with MOBY will be able to offer an array of payment options which range from online and offline acceptance of debit, credit cards to Buy Now Pay Later (BNPL) with both conventional and Shariah-compliant options.
The SmartPay solution helps eliminate the use of clunky credit card terminals, empowering small and micro merchants to accept contactless payments directly through their smartphones. It works the same way as a contactless transaction on a standard Electronic Data Capture (EDC) credit card terminal by enabling seamless and efficient transactions through
secure contactless transactions using Near-Field Communications (NFC) that accept credit and debit cards bearing the Visa, MasterCard and MyDebit.
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