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.
Is their payment gateway production ready? According to their website, they are offering payment gateway but no mention of pricing etc?
Monet is Abu Dhabi group company?
pls read first line
Will the transactions be in PKR and will there be any additional charges for the customer compared to regular POS?
@disqus_xZX3cqyJ9r:disqus yes, their payment gateway product is ready, they have engaged NGO’s for donation collection. donate2.pk is one of their product. while being associated with NGOs, i came across their communication in which they have given special pricing for their services.
@waqas_aliabbasi:disqus since the transactions are being processed through a local bank, i think its HBL, the transaction amount should be in PKR and there are no charges passed on to the customers in this kind of service. however merchants have to pay a certain percentage of fee to process the transactions of the customers.