Contactless POS
This is a new payment solution service that is carried out on a POS terminal that enables customers transmit card payment information by simply holding a contactless enabled device near the terminal.
This payment technology will be targeted at merchants such as gas stations, fast-food restaurants, movie theaters and pharmacies, where speed is an important factor in service deliverySome of the benefits
Mobile
Collecting payment through Near Field Communication (NFC) enabled devices
Secure
Faster and secure way of carrying cash around
Flexible
Reduced cash handling expenses and improved operations for your business
Easy
Print receipt via the POS terminal or Bluetooth Printer
How to get it
Onboarding Requirement:
Complete the Merchant Onboarding form
Attach the required documentations listed below:
- Branch Compliance Officer (BCO) compliance status email from the BCO
- Know Your Customer (KYC) document duly completed by the Relationship Manager (RM)
For International Card Acceptance, the following documents will be required in addition:
- Branch Compliance Officer (BCO) compliance status email from the BCO
- Enhanced Due Diligence (EDD) duly completed by the Relationship Manager (RM)
- Merchant Site Inspection
- Indemnity for Naira/USD settlement.
Frequently Asked Questions (FAQs)
- What are contactless payments?
Contactless payments are simply payment transactions that require no physical contact between the consumer payment device and the physical point-of-sale (POS) terminal. In a contactless payment transaction, the consumer holds the contactless card or device in proximity (less than 2-4 inches) to the merchant POS terminal and the payment account information is communicated wirelessly (via radio frequency (RF)). Simply put, contactless payment is like having exact change wherever you go. A simple tap of your card, key fob or smart phone is all it takes to pay at checkout.
- Where can I make contactless payments?
Anywhere you see the contactless symbol at checkout, you can simply tap to pay. This includes fast food restaurants, gas stations, convenience stores, pharmacies, stadiums and more. If you don't see the symbol, your contactless-enabled card can still be used by inserting your chip card or swiping at checkout.
- How do I pay with my contactless card?
To make a purchase, simply tap your contactless card on the POS terminal at the checkout of participating retail locations.
- Can I use my contactless card or device on payment readers that don't display the contactless logo?
You can make contactless payments on any contactless payment reader that displays this symbol 
. You may also use contactless cards in magnetic stripe readers by swiping the card. However, you cannot use a contactless key fob or smart phone in a magnetic stripe reader.
- What is the applicable charge?
A: The Merchant Service charge is 0.5% capped at N1,000 by regulation.
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How to get it
-
Frequently Asked Questions (FAQs)
Onboarding Requirement:
Complete the Merchant Onboarding form
Attach the required documentations listed below:
- Branch Compliance Officer (BCO) compliance status email from the BCO
- Know Your Customer (KYC) document duly completed by the Relationship Manager (RM)
For International Card Acceptance, the following documents will be required in addition:
- Branch Compliance Officer (BCO) compliance status email from the BCO
- Enhanced Due Diligence (EDD) duly completed by the Relationship Manager (RM)
- Merchant Site Inspection
- Indemnity for Naira/USD settlement.
- What are contactless payments?
Contactless payments are simply payment transactions that require no physical contact between the consumer payment device and the physical point-of-sale (POS) terminal. In a contactless payment transaction, the consumer holds the contactless card or device in proximity (less than 2-4 inches) to the merchant POS terminal and the payment account information is communicated wirelessly (via radio frequency (RF)). Simply put, contactless payment is like having exact change wherever you go. A simple tap of your card, key fob or smart phone is all it takes to pay at checkout.
- Where can I make contactless payments?
Anywhere you see the contactless symbol at checkout, you can simply tap to pay. This includes fast food restaurants, gas stations, convenience stores, pharmacies, stadiums and more. If you don't see the symbol, your contactless-enabled card can still be used by inserting your chip card or swiping at checkout.
- How do I pay with my contactless card?
To make a purchase, simply tap your contactless card on the POS terminal at the checkout of participating retail locations.
- Can I use my contactless card or device on payment readers that don't display the contactless logo?
You can make contactless payments on any contactless payment reader that displays this symbol . You may also use contactless cards in magnetic stripe readers by swiping the card. However, you cannot use a contactless key fob or smart phone in a magnetic stripe reader.
- What is the applicable charge?
A: The Merchant Service charge is 0.5% capped at N1,000 by regulation.