UBA leads e-Banking Innovation with Mobile POS (mPOS)
United Bank for Africa (UBA) Plc has again proven its leadership position in e-Banking with the introduction of mobile Point of Sale (mPOS) terminals. UBA has gone live with this 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 analyze 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.
According to Kennedy Uzoka, UBA’s DMD & CEO Africa, “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.”
It will be recalled that UBA late last year introduced bill payments such as airtime top up, utility bills payment and Cable TV subscription on its POS terminals in select locations.
With a customer base in excess of seven million, UBA has invested heavily in building a robust and secure e-Banking platform that supports its operations globally through strategic partnerships with various local and international organizations.
The UBA Group is a highly diversified financial services provider, with business offices in New York, Paris and a subsidiary in London. A leading player on the African continent, UBA has significant market share and operations in 19 different African countries.