United Bank for Africa (UBA), a Nigerian lender, has introduced the mobile Point of Sale (mPOS) terminals to aid e-banking transactions for customers across Africa.
A portable mPoS terminal will resemble the size of a mobile phone with payment processing functions like a traditional POS.
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mPOS will allow merchants to track and analyze sales and trends in their businesses by automatically capturing all sales information on the retailer’s system, improving accountability and transparency in business transactions.
UBA’s mPOS will also be compatible for firms that have field agents collecting cash on their behalf, providing a secure pay on delivery system.
UBA deputy managing director and CEO for Africa Kennedy Uzoka said: "Our PoS terminals are also enabled for Dynamic Currency Conversion (DCC), which means customers and non-customers using foreign payment cards on our PoS can see their transaction value in the currency of their card or home country; this aids transaction tracking and personal account reconciliation."
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By GlobalData
