Nearpays has unveiled an AI-powered Soft POS that converts NFC-enabled smartphones into payment terminals for card transactions. The system allows merchants to accept payments by “tap-on-phone,” without a separate device, using software installed on their phones.
The launch addresses limits that many small and medium enterprises face when adopting electronic payments. Costs, downtime, and paper use linked to hardware terminals have slowed uptake in many markets. By shifting to a software model, Nearpays says merchants can begin accepting contactless payments with devices they already own, while also gaining access to a dashboard that tracks sales, flags fraud risks, and manages records in real time.
The company said the platform analyses sales patterns to support inventory planning and cash flow decisions. It also uses transaction data to support credit scoring, which may help firms seeking finance to expand operations. For users without contactless cards, the system routes payments through other digital channels so that transactions can proceed without cash.
Nearpays stated that the Soft POS is being deployed across several sectors. Couriers and delivery agents can process payments at the point of service without carrying extra devices, which may reduce cash handling. In energy and mobility services, the platform can link with meters and charging points to enable instant payment at the point of use. Health providers in areas with limited banking access can receive digital payments for consultations and medicines through the same system. Informal traders, including market sellers and artisans, can use the software to receive payments with security standards used by banks.
Victor Daniyan, Founder and CEO of Nearpays, said: “At Nearpays, we believe technology should serve everyone, not just the elite. By embedding AI into the very fabric of daily transactions, we aren’t just making payments easier—we’re providing SMEs with a digital ‘brain’ to help them grow, scale, and compete on a global stage.”
The company noted that the innovation won the AI for Good Innovation Pitch and will represent Africa at a summit in Geneva. Nearpays said its broader offering includes virtual cards and tools that support cross-border payments, with a focus on access and speed for businesses of different sizes.
