Receiving payments via mobile phone is a reality today

Merchants in Slovakia are among the first in Europe to be able to use a smartphone to receive payments. The novelty will be used mainly by small merchants, who can accept payments for goods or services non-cash, using the application. Slovenská sporiteľňa cooperated with Global Payments and the Visa and Mastercard card associations on this innovation.

“During the pandemic, the number of payment terminals of our corporate clients increased by up to 20%. However, it is still true that in Slovakia there is the potential to double their number. But not every merchant needs a classic payment terminal. Some would adopt a simpler solution without the need for additional equipment, especially if they do not use it continuously. That is why we bring innovation that will serve especially small businesses with a smaller volume of payments. In addition, we will add this digital novelty to ours Crisis package for one year free of charge, “

Martina Zrníková, expert for corporate banking at Slovenská sporiteľňa

Slovaks like to pay by card

Especially in connection with the coronary crisis, people have recently learned to pay more with a card. In 2019, Slovaks spent 1.73 billion euros cashless, which is almost 5 million a day. Despite the fact that the shops are closed today, Slovaks still pay 4 million euros a day with the card.

Accept mobile payments. How does it work?

For the GP application to work properly, a smartphone with the Android 8 operating system and newer with an NFC chip is required. Merchants can accept payments anywhere in places with a data signal. The customer can have the proof of payment sent via SMS, e-mail or via a QR code. This method of payment is suitable, for example, for taxi drivers, couriers, craftsmen or doctors.

Is such a solution safe?

The payment process itself is very similar to the classic terminal. The merchant enters the amount, the customer attaches a card or other device to which he pays without contact. The application connects to the authorization center and authorizes the payment. The money will be credited to the merchant’s account the day after the transaction. Payments up to 50 euros do not need to be confirmed with a PIN code.

“More and more people today expect the convenience of paying by card, no matter where they shop. However, there are still places where the use of the card is not possible: outdoor markets, snack stalls, new family businesses. Millions of sole proprietors and small businesses around the world are struggling with the obstacles to making regular payments. Visa is therefore working hard to make the digital payments that customers require as accessible as possible. ”

Marcel Gajdoš, General Director of Visa for the Czech Republic, Slovakia and Hungary