NFC lets two devices exchange information when they are in close proximity, without the need for a mobile network. The stickers have a chip embedded in them, and have been priced at USD 1.
The sticker is synced with the user’s mobile money wallet, and users tap it against a micro point-of -sale device when they make a purchase. The amount transacted is deducted from the user’s EcoCash wallet. This service has a daily transaction limit of USD 1.000, and no PIN is required for payments of USD 3 or less.
The EcoCash Ta! has been introduced as a point-of-sale option for vendors and merchants. According to Econet, more than 500 vendors, merchants and agents have already signed up to use the service to accept payments.
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