As a part of the agreement, Mastercard has integrated its digital global payment service Masterpass into Spazapp - a free, money-saving android application that connects a community of informal traders directly to big FMCG brands including Unilever and Tiger Brands. Using the app, traders can order a wide variety of products and use Masterpass to digitally pay for stock and accept cashless payments from their customers with their mobile phones.
Customers can download Masterpass from the iOS or Android app store, register, and load their credit, debit or cheque cards from any bank into the digital wallet. To pay for their goods, they simply open the Masterpass app on their mobile device, and scan the unique QR code that is generated on the Spazapp retailers smartphone. After shoppers enter their bank PIN number or 3DSecure code and CVV/CVC number on their own device, the transaction is complete.
Similarly, spaza shop owners use their Masterpass app to scan a QR code printed on the suppliers invoice, to pay for their stock on delivery at their store. Payment card information is only captured once eliminating the hassle of repeatedly entering these details each time they want to pay their bill.
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