The mPOS solution is certified with all international payment processing standards and works on a pay-as-you-go basis. There is an ever increasing number of downstream small-scale retail merchants, insurance companies, retail stores, food chains and online stores in Pakistan which rely on traditional cash based payment mechanisms having challenges associated with handling and transporting cash. MCB plans to automate the entire payment processing mechanism in these retail segments using mPOS as the card-based payment acceptance method.
The mPOS technology services provided by Monet, comprises a card reader along with a lightweight mobile app. The card reader (swiper) can be easily connected to a smartphone via its audio jack and merchants can accept card-based payments on-the-go.
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