CheqOut, a new local mobile credit card payment app, will be launching in April.
The app, a local take on Square, aims to empower small retailers, merchants and individuals, who cannot afford the fees associated with credit card facilities, the ability to accept credit card payments directly from their mobile phones and will initially be available to both iOS and Android devices.
CheqOut founder Bradley Elliott explains that “95% of the SA economy is based on small businesses, however not all of them can afford the costs of credit card facilities or land lines because their turnover isn’t high enough. CheqOut’s aim is to empower these small businesses by providing them with an additional low-cost payment method and basic point-of-sale system.”
Users will sign-up for the service via the CheqOut website or app and fill in their banking details afterwhich CheqOut will send them a card reader at no charge. Once received, they will have the ability to receive credit card payments directly from their phone. The funds will clear in the user’s bank account within 48 hours and CheqOut will only charge one competitive flat rate per transaction with no additional monthly fees.
The app gives users the ability to add products, product categories, track sales, send receipts and even track a customer’s spend. Users will also have the ability to add multiple users to their account, allowing waitresses and other staff to accept payments.
Another important aim for CheqOut is to provide small businesses with the mobility required to conduct their business from where ever they operate. A taxi driver or an individual with a stall at a market can now accept credit card payments with the credit card reader and their mobile phone.
Due to the nature of the service, CheqOut’s primary concern is safety and so it has developed a 3-layer security system as well as various fraud detection systems both on their side and with the bank itself and every precaution has been taken to ensure the integrity of the system.
As part of its launch, CheqOut is giving a limited amount of users the opportunity to utilise the service with zero transaction charges for the first month.
To sign-up with CheqOut click here.
