At Mobile World Congress, MasterCard in collaboration with Equity Bank announced the introduction of Mobile Point of Sale (MPOS) technology to Kenya. MasterCard and Equity Bank have partnered with Ezetap to introduce this service.
The MPOS solution includes three components: A mobile phone, the MPOS card reader payment application and the Ezetap MPOS Card Reader that plugs into the mobile handset. The card reader allows the retailer to swipe debit, credit or prepaid cards.
Daniel Monehin, division president, MasterCard Sub-Saharan Africa commented, “Our collaboration with Equity Bank and Ezetap to introduce this innovative technology to Kenya will help businesses and retailers boost sales through broadened acceptance. The MasterCard MPOS solution will allow Kenyan retailers who previously operated on a cash-only-basis, to use mobile phones as point of sale (POS) terminals and accept electronic payments.”
This initial MPOS pilot project, which was first announced on 15 January as part of the strategic alliance between Equity Bank and MasterCard to issue 5 million cards, will be targeted at selected merchant retail outlets.
“MPOS has the potential to transform payments in emerging markets. However, our experience in other markets has shown that technology is only half the battle,” said Abhijit Bose, CEO of Ezetap. “To be fully successful, you need a strong set of partners, like MasterCard and Equity Bank, who truly understand the needs and concerns of the local merchants and consumers.”
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