Habib Bank Limited has enabled Daraz.pk, Pakistan’s largest online store to accept credit and debit cards while delivering goods to customers’ door steps. This has been achieved through HBL’s mPOS (Mobile POS) service which has been recently launched.
The mPOS solution enables merchants to accept payments through debit and credit cards while delivering goods to customer door steps. This replaces the existing and only mode of payment “Cash-on-Delivery” with a more safe and secure “Card-on-Delivery” solution.
This reduces the responsibility of handling cash from the delivery cycle. The service accepts VISA, MasterCard and UnionPay cards. The mPOS can be integrated with backend systems of merchants, thus providing real time transaction data for quick decision making.
Faiq Sadiq, Head Payment Services HBL, commented:
“HBL is taking the merchant business very seriously, with introduction of POS and Online card acceptance solution last year; the recent addition is mPOS which will change the landscape of how payments are made via merchant acquiring business.
This will enable the POS to go to people instead of people coming to POS. The reduction of cash dependency from delivery cycle will further increase the average ticket size of such transactions, enabling merchants to sell more in a secure way.”
Muneeb Maayr, co-founder Daraz.pk added
“We are excited to partner with HBL and Monet and help usher in a new era of innovative payment solutions across Pakistan. The future of online shopping lies in mobile devices, and we are happy to leverage this platform for real time payments also.”
Monet Chief Executive Officer Ali Abbas Sikander said:
“While mobile is changing the payments market, mPOS is a fast-growing area within the payments ecosystem and financial institutions are ideally placed to capitalize on it.
In order to do this they must build upon existing revenues and relationships and offer a competitive proposition to merchants, which can be scaled easily to meet future business and consumer needs.”
Good initiative
How will it work, does it use cellular networks for communication, if not, my guess is there will be lack of coverage issue for majority of areas, if I am right.