African integrated finance facilitator Ukheshe Technologies has announced the launch of the first-ever payment-by-phone solution that does not require any certification via the Eclipse Payment Service (EPS) application – slated for public release on July 1, 2022. Although telephone payments have been available for some time, until now this functionality was costly, with several administrative obstacles.
Ukheshe says it solved this problem by creating a quick and easy process for merchants and service providers to accept payments over the phone. It will allow any Near Field Communication (NFC) enabled Android phone to accept transactions over the phone. There’s no need for app certifications and approvals, and no need to include third-party software development toolkits (SDKs).
According to a report by Accenture, micro-merchants account for around 40% of GDP in emerging markets, but 90% of them do not accept any type of digital payment. Phone payments are the most convenient way for these businesses to accept digital payments. This, not only for its convenience, but now also for its ease of implementation and reduced costs.