Monet (Private) Limited, Pakistan’s indigenous mobile point-of-sale (MPOS) services provider, announced today that its solution, Swipe2Pay, has been registered for UnionPay International’s payment standard. Through this registration, Monet offers a safe and convenient payment experience to customers. Merchants can confidently use Monet’s mobile point-of-sale solution, which meets UnionPay International’s Payment Standard and identifies technologies adequate to handle the growing demand for mobile commerce.
The UnionPay registered Swipe2Pay MPOS solution is an innovative acquiring terminal, which is connected with mobile devices via the audio jack as well as USB/Bluetooth. The solution provides a low cost payment acceptance option which is PCI DSS and EMV compliant.
The solution can accept payments through credit / debit / prepaid cards, as well as proprietary and mobile wallets. Merchants can even integrate their existing systems with Monet’s mobile point of sale solution via an app-to-app integration. Through this, merchants can provide exciting features to the customers such as loyalty programs etc.
Speaking on the occasion, Ali Abbas Sikander, CEO Monet commented: “Monet, through its on-soil MPOS deployment, is catering to the market’s existing and future needs for convenience – both on the merchant side and consumer side – and the demand for an optimal customer experience based on analytics. Merchants get an integrated mobile payment solution that will allow them to better serve their customers. They will now have access to a broader business application, where payment acceptance is just one component.”
Mr. Han Wang, General Manager of UnionPay International Middle East expressed his views on mPOS Technology:
“The growing popularity of mPOS acceptance solutions, especially among micro and small merchants, is helping to drive the migration from cash to electronic payments. The mPOS service will help these merchants reduce the costs of accepting UnionPay cards and meet their needs for attracting more consumers. The UnionPay enabled program gives merchants and consumers the peace-of-mind they need when transacting with mobile phones.”
Monet’s MPOS is a sustainable, portable and economical solution that expands the reach of micro-merchants and small businesses, especially in the tier 2 and tier 3 towns and cities of the country. Monet’s MPOS solution not only helps streamline merchants’ business operation needs, but also allows them to reach new markets, stay connected to customers, and drive more sales.