NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Monday, March 24, 2014

Nigerian mobile payments provider Teasy Mobile is to equip its mobile money agents with POS terminals that use biometric technology to verify a consumer and NFC to allow them to make a payment.

VeriFone Mobile Money, a joint venture between POS maker Verifone and Mobilis Networks that also supplies Tonga’s NFC-based Beep and Go mobile money service, will provide Teasy Mobile with its Verifone Mobile Money wallet solution and retail switch. Teasy will also “work closely with local industry players to roll out Verifone contactless POS devices as part of the solution.”

Merchants will be using Verifone’s VX520 POS system and Teasy will also enable agents to use NFC phones running a merchant app to process payments.