A PesaPoint ATM. PHOTO | FILE
By Lynet Igadwah
Posted Sunday, August 3 2014 at 18:28
Posted Sunday, August 3 2014 at 18:28
In Summary
- PesaPoint's customers will use their mobile phones at point of sale (mPOS) terminals instead of ATM cards, in a move similar to one announced by Equity Bank.
- The mobile platform will be launched next month.
Paynet Group, the operator of PesaPoint automated
teller machines, has said it is working on plans to enable customers use
their mobile phones instead of ATM cards.
The group’s customers will use their mobile phones at point
of sale (mPOS) terminals instead of ATM cards, in a move similar to one
announced by Equity Bank.
The mobile platform will be launched next month.
“We are currently undergoing certification for data
security and clearance from government agencies before hitting the
market,” said Paynet group CEO Bernard Matthewman in an interview.
With mPOS, customer transactions will be documented by a smartphone or tablet, instead of a traditional checkpoint register.
Paynet will sell pre-paid services and take card transactions through mobile phones.
Paynet group CEO Bernard Matthewman said the company had invested heavily to ensure transactions are done in a secure manner.
The company is connected to more than 64 financial
institutions, including banks and saccos across East Africa. It is
involved in the current migration of bank customers to use of
pin-and-chip cards.
“The fight against fraud continues and we shall
continue to invest in that area to ensure a secure environment for our
customers,” said Matthewman at a media briefing held at Paynet offices
last week.
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