According to a note from the Interbank Services Company (EMIS) to which VerAngola had access, the number of TPAs updated with the new functionality represents 40 percent of the total number of terminals available on the Angolan market, which is around 190 thousand. Most of the remaining TPAs are gradually being updated to accept payments for purchases using QR codes.
The new solution aims to not only facilitate, but also to increase the number of financial transactions, providing "greater security and comfort" to users.
The method of operation is simple: the operator enters the amount of the purchase to be paid on the TPA (without the card inserted in the terminal), and the user must open the MCX Express application, press the 'Purchases' button and point the mobile phone camera at the QR code that appears on the TPA terminal, then validating the purchase.
Therefore, and without using a physical card, "the transaction is carried out quickly, conveniently and securely", states EMIS. One of the main benefits is that the physical card is not exposed, which helps prevent card swaps, thefts and robberies. The goal is to dematerialize the payment card.
Every day, the Multicaixa Network processes more than 8.5 million financial transactions, across more than 3,800 ATMs, with around 190,000 Automatic Payment Terminals and more than 1.3 million users of the MCX Express app.
