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ABSA's Innovate Pebble
ABSA's Innovate Pebble
The device, which ABSA have called 'The Pebble', is a wireless device, which is plugged into any iOS, Blackberry or Android smartphone or tablet via the standard 3.5mm audio jack, where your headphones plug in. All the user has to do is download the App for their specific device in order to make use of the Pebble.
Once plugged in, the Pebble connects to your device and authenticates the payment using a highly complex and custom-made security protocol. The reason this device is so innovative is simply because the Pebble is unique in the way it processes and authenticates payments. Being designed and manufactured in South Africa, this device is a truly remarkable achievement.
"One of the key differentiating features of the technology is its ability to enable safe and secure payment acceptance as a pin entry device, for both chip and magnetic swipe strip cards," Absa said. Storeowners or businesses will receive the Pebble pre-configured to his business, which means there is no need to worry about difficult to use software or any arduous technical work.
This device is truly an innovation in South African banking, and it should bring about some progress in ease of payment in South Africa, as other banks will no doubt also venture into making similar devices. As we evolve technologically, so should the way we pay for things, in a digital world, physical money is fast becoming a thing of the past.