Mobile Phone Turns Into a Credit Card Terminal
AllAfrica.com reports on iVeri Payment Technology, a South African company that delivers mobile point of sale acceptance devices in African countries.
As its CEO Barry Coetzee puts it, iVeri provides cost-effective credit card transaction solutions to financial organisations (mainly banks and remittance companies) that want to allow their customers to accept credit cards as a means of payment. According to Coetzee, mobile operators offer the most wide-ranging network for data and voice traffic and are therefore the ideal platform for rolling out such a service, since they far outnumber internet users. Although mobile networks use different technologies, all modern mobile phones use DTMF signals (dual tone multi-frequency), allowing their users to use their phone's keypad to enter data.
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