Cashless Payments

NLB Smart POS app makes your smartphone a POS terminal

The Adriatic team

NLB has launched an NLB Smart POS solution, the first application of this kind among Slovenian banks. Entrepreneurs can download it on their mobile device (a phone or tablet), and it becomes a mobile POS terminal accepting cashless payments. This new solution is aimed primarily at the micro and small business segment, which has so far been largely excluded from cashless payments.

The NLB Smart POS app can be installed on an NFC – enabled mobile device (Android phone/tablet version 10.0 minimum) with no additional equipment needed. All you need is the internet connection. This solution is designed primarily for micro and small entrepreneurs who do not find a traditional POS terminal worthwhile due to the scale of their business, as the new solution is more affordable than standard POS terminals. The installation and use of the NLB Smart POS solution has no fixed monthly costs, a fee is charged only per completed transaction.

“According to the European Central Bank, 73% of all point-of-sale payments in Slovenia in 2022 were made in cash. At NLB, we are striving to lower this percentage and make sure that digital payments have the same potential as cash. Digital payments bring many benefits to all stakeholders, including the state. The NLB Smart POS solution is a simple, secure and, above all, affordable solution for those entrepreneurs who have not yet accepted cashless payments, bearing no fixed monthly costs, a fee is charged only when a transaction is completed. This service presents an opportunity particularly for micro and small businesses and companies with, for example, large field teams, as they can offer their customers the option of cashless payments, thus improving the customer experience and increasing their turnover. We are convinced that the future of payments is digital, and we are happy to invite our customers to get ready for it as soon as possible,” said Antonio Argir, Member of the NLB Management Board responsible for Group Governance, Payments and Innovation.

The solution brings benefits to points of sale:

  1. The point of sale can use mobile devices they already have.
  2. This solution is flexible and user friendly, as the NLB Smart POS can be carried around and allows cashless payments to be accepted outside your business premises.
  3. The app is easy to install, you can simply download the NLB Smart POS app to your mobile device from the Google Play Store. Once the app is installed, the mobile device will function as a standard POS terminal.
  4. With this app the point of sale can safely accept cashless and contactless payments with VISA and Mastercard payment cards and cards digitized in mobile wallets (mobile phones and smartwatches, rings and bracelets).
  5. The Bank will make sure together with its Processing Centre that security standards are up to date and accurate (notifications will be sent to the point of sale).
  6. The use of NLB Smart POS is cost-effective, there is no fixed monthly cost, and it is safe and easy to use, both for the merchant and the end user.
  7. There is no need for any additional equipment or POS strips to print out the slip as is the case with standard POS terminals, because the POS outlet can send the POS slip to the customer digitally (either a text message to their mobile number or e-mail, or even using another channel, such as Viber, WhatsApp, etc.).

Businesses can always carry this solution with them and accept cashless payments whenever and wherever the internet connection is available. This is just the right solution for those whose work involves frequent moves from place to place (field sales), entrepreneurs who provide their services on their customers’ premises (plumbers, fitters, etc.) and other entrepreneurs who provide their services (hairdressers and beauty salons, fitness centers) and commercial activities or sell their products at markets and fairs.