Even as talks of Barclays shutting operations in Africa proliferate, the bank’s Kenyan outfit has launched another product.
The next-generation, mobile card payment solution launched on Wednesday will enable Kenyans to pay for low-value transactions with ease, speed and convenience.
The Barclays Mobile Point of Sale (MPOS) is a small phone-like GPRS device that accepts all VISA, MasterCard and AMEX cards as a payment option on the go.
MPOS is designed as an ideal platform for making card payments for home deliveries, transportation, entertainment spots among others. All transactions processed through MPOS terminal follow the same transactional and payment flows as that of the traditional POS system.
Speaking during the launch of MPOS, Barclays Bank Kenya, Managing director, Jeremy Awori said MPOS addresses the growing demand for innovative payment solutions.
“We are proud to be the first financial institution in East Africa to rollout the MPOS card payment solution. I strongly believe that there exists enough room in the mobile card payment space for competitors to emerge and gain a competitive advantage,” said Awori.
Barclays Bank has partnered with Pewin taxi Cab Company, to rollout the solution to its customers on a pilot project. The bank is also in the process of establishing partnerships with other firms.
“MPOS will enable businesses that previously operated on a cash only basis to increase their sales and expand their customer base by enhancing their payment solutions,” he added.
“Payments through MPOS conform to the International Data Security Standards adopted by major card schemes including Visa, MasterCard and American Express” said Awori.
Barclays Bank is celebrating its 100th anniversary in Kenya and has identified SMEs, Women, Youth and Innovation as its next growth frontiers.