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Payments General

SmartPesa, Tune Protect Malaysia release insurance agent policy payment solutions

Thursday 23 August 2018 | 08:57 AM CET

SmartPesa, a Singapore-based fintech company, has announced that it is enabling Tune Protect Malaysia (TPM) to use its insurance agent policy payment solutions.

As part of the managed service with local acquirer AmBank, SmartPesa is deploying its mobile Point of Sale (mPOS) terminals to TPM agents to accept on-the-spot policy payments, address payment delays and reconciliation challenges.

The fintech company’s aim is to accelerate policy payments with integration to the insurance company backend systems (APIs) to retrieve policy information, charge for the correct amount, and immediately inform the insured on the success of a customer's payment.

690 terminals are being deployed for TPM agents in the go-to-market, terminals that combine the meta-data with payment information that is captured in SmartPesa payment gateway. The meta-data is also available for export and historic reporting purposes.

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