First City Monument Bank (FCMB), a Nigeria-based full service banking group, has launched a mobile point of sale (mPoS) terminal, named FCMB PayPad, to support the growth of small and medium scale enterprises and the cashless policy.
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The FCMB PayPad, a portable device, will allow Nigerian merchants to process payments via a smart phone or tablet synchronized with the device via a freely downloadable a mobile application.
The device, which can be obtained from any FCMB branch across the nation at no cost, will permit customization to suit the needs of merchants ranging from inventory management to airtime vending.
The product will provide transaction details via SMS, email and paper print with a long lasting rechargeable battery requiring fewer recharges.
FCMB executive director of service management and technology Nath Ude said: "The FCMB PayPad is truly a payment device that will revolutionize how secured payment processing is done in fixed locations and on-the-go.
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By GlobalData"It is one of the innovative products from FCMB designed to enhance customer experience across all touch points and help merchants to grow their businesses in a sustainable manner."
