Halo Dot is a contactless card payment technology that allows merchants to make sales and accept payments directly on their mobile phones. It has the potential to massively disrupt how payments take place in a digitally-driven world. Pierre Aurel, Head of Product at Halo Dot, explains the reasons why merchants and their customers should embrace this technology.
Because Halo can easily be integrated into any smartphone, merchants do not require additional hardware to process a card transaction. Furthermore, they also do not need to worry about expensive point-of-sale terminal fees or battling with slow connectivity or running out of paper for receipts.
From a consumer perspective, the entire transaction is completely frictionless. It is as simple as tapping a card on the merchant phone, entering their PIN number, and paying for a product or service.
Security is central to the potential of the Halo technology. In fact, it is more secure than online transactions and even eliminates the issue of OTPs not coming through to a customer’s mobile phone when safety features like 3D Secure are used.
Halo requires the physical bank card to be present to complete the transaction along with the customer who needs to enter their PIN. There is no way that a fraudster can intercept the transaction and card data, which is possible with e-commerce transactions.
Halo therefore ticks all the regulatory and security boxes, giving merchants the peace of mind to focus on the ease of transactions and delivering a superior customer service. Halo provides a slick payment experience for merchants and customers while handling all the security, encryption, and payment processing behind the scenes.
In developing markets like South Africa who have a significant township economy in place, Halo can provide micro-merchants with the perfect payment solution to offer their customers. They can sign up, complete a FICA registration process, and be set up within minutes. And because Halo is embedded at an application level, transactions are cleared instantly and show up in the merchants e-wallet.
In turn, they can withdraw money from any ATM or pay another supplier within the Halo ecosystem. There is a low barrier to entry with no merchant needing to ever go into a bank branch to set anything up or deposit or withdraw money.
And because the merchant only pays at a transactional level, there are no subscription costs or device support fees to worry about.
Another way Halo offers a significant advantage is that there is no minimum payment amount required. This means a micro-merchant can sell virtually any product or service with Halo with customers by simply tapping to pay.
And with Halo sending money directly to any mobile number or email address, there is no need for a merchant to have a bank account. This overcomes the massive problem of the high unbanked population in Africa.
Halo is incredibly easy to roll out into any market. Thanks to the rise of cloud computing, the technology can be launched into any country within 30 minutes.
Because it is software-based, it scales to any requirement unlike hardware that is limited by a struggling global supply chain problem. No point-of-sale terminals need to be ordered, manufactured, or delivered. Everything happens from the palm of the merchant’s hand.
This makes Halo a globally game-changing technology that can reinvent how contactless payments are done. Thanks to the software-driven nature of Halo, it can continually evolve to meet any market requirement whether it is for developed economies or emerging markets.
Halo is all about removing the cost barriers of contactless payments and driving utility to merchants and micro-merchants all over the world.
Halo Dot is an innovative payment technology that enables merchants to accept secure contactless payments directly on their mobile phones - without any additional hardware.
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