Innovectives Limited, a mobile and electronic payments consultancy firm, has launched a new mPOS called SmartPesa in the Nigerian market.
MD and CEO, Emmanuel Agha said in a statement, “SmartPesa mPoS works with existing banks not against them. As such, it does not have associated problems that plague proprietary mobile money solutions such as opening special accounts, reliance on customer behavioural changes and unclear legal/regulatory frameworks.”
“Cards are here to stay with over 20% per annum growth, cards have continued to be seen as the workhorse of banking and payments around the world,” he noted.
Among the key key benefits of the SmartPesa platform, the MD highlights the platform’s relative low cost when compared with traditional PoS solutions (it’s about 20% less), the platform’s extensive functionalities when it comes to balance enquiries, cheque deposits, and transfers. The platform accepts all local and international cards and is compatible with over 97% of current smartphones and commonly available tablets.
“Financial institutions can extend the platform beyond payments to include bill payment, agency banking and third party services (e.g. airtime, ticketing). Furthermore, unlike traditional POS devices, SmartPesa can update all devices to support future local and international cards, loyalty schemes or integrated inventory systems. Updates are done remotely and do not require costly hardware recalls or customer visits”, the MD said.
The company has finalized a robust national rollout plan with its partner banks and card payment scheme.
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