FNB Namibia on Thursday launched an affordable portable card payment solution for businesses, also known as Speedee, with 600 devices set to be made available to the market.
Speedee, according to the bank, is a cost-effective, convenient, and compact Point-Of-Sale (POS) device that allows merchants to accept payments anywhere and at any time, making the management of their businesses more efficient.
“Speedee truly is an innovative solution, catering to a wide range of customer preferences which makes it easy for small business owners and merchants to accept both card and eWallet payments, including VISA, Mastercard, and UnionPay credit and debit cards,†FNB Namibia Transactional Product House Head Rivan Meyer said.
“Whether you run your business in a store, at a market, in an office, or on the road, Speedee is the smarter, safer, speedier card payment solution.â€
He said additional benefits of Speedee include dual SIM and wireless connectivity, technical support offered telephonically across the country, an E-receipting system, as well as daily activity reports and quick settlement into the main account, which settles into the FNB Business Account within one day.
“At FNB Namibia, we recognize that service delivery is of the utmost importance to our customers, and therefore offer a maintenance service for the Speedee device through a dedicated merchant helpdesk as well as field support at your request across the country. We are aware of the ongoing need to innovate and look at new ways to respond to the evolving needs of SMEs and startups and develop solutions that are both cost-effective and convenient to better cater to them while also promoting financial inclusion,†Meyer said.
He, however, warned that merchants are not allowed to set a minimum transaction amount without approval from the bank.
“The requirement is that the merchant is not allowed to set minimum payments for any amounts that were not agreed on with the bank. If so, the merchant will be contacted and informed that it is contravening. However, if the merchant continues, facilities will be canceled,†Meyer said.
This comes as the Bank of Namibia (BoN) has warned against merchants enforcing card swiping limits.
