e-Banking: UBA Introduces Mobile PoS
By Obinna Chima
The United Bank for Africa (UBA) Plc has introduced the mobile Point of Sale (mPOS) terminals to support customers’ e-banking transactions.
UBA said it recently went live with the initiative in partnership mPOS partners across Africa.
A mobile PoS terminal is about the size of Blackberry Curve phone, but works just like the traditional POS currently used in many stores and cash collecting business outlets. mPOS terminals are portable, low cost and extremely secure.
Many stores and cash collecting outlets that have already operated the new UBA mPOS have discovered it to be a good strategy to increase sales and expand their customer base.
Existing large retailers are also adopting Mobile POS solutions and integrating them into their current point-of-sale environment to enhance the retail and payment experience.
mPOS allows even the smallest business to be able to easily track and analyse sales and trends in their business as all sales are automatically and instantly captured on the retailer’s system thereby improving accountability and transparency in business transactions.
It is also suitable for firms and companies that have agents on the field collecting cash on their behalf as an option to the less secure pay on delivery system.
A statement from the bank quoted UBA’s Deputy Managing Director and Chief Executive Officer for Africa, Kennedy Uzoka to have said: “mPOS is just one of our many e-banking innovations. We have driven other initiatives such as the acceptance of international cards on our POS terminals.
“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.”
UBA had last year introduced bill payments such as airtime top up, utility bills payment and Cable TV subscription on its PoS terminals in select locations.