phoonePOS affords retail outlets to be able to accept payments in the shops, using their mobile phones. This service is a USSD powered solution.
In order to Accept Payments as a merchant on phoonePOS, the process is very simple. All that is required is for the merchant to login to the dashboard of the App, then ask the customer which bank do they have their money, once the customer answers, the merchant generates a string of USSD code and gives to the customer do dial on their phone. The customer the dials that USSD code on their mobile phone that is profiled with their bank, then money moves from the customer’s account to the Account of the merchant on phoonePOS, then the merchant can confirm from the transactions menu and release the purchased goods.
Its important to note, that the transaction value for Accept payments is t+1 (which means the value is received by the merchant on the next day the transaction is done), based on the CBN Policy.
To understand how to generate the USSD code, please view this video https://youtu.be/2sOSAkrFtuY.