Thursday, February 22, 2024

People’s Bank creates convenient MPoS solution for SMEs and Micro-Level business

by malinga
November 5, 2023 1:05 am 0 comment 201 views

In a time when innovation and convenience converge, People’s Bank is at the forefront of pioneering a game-changing Mobile Point of Sale (mPOS) solution designed exclusively for Small and Medium Enterprises (SMEs) and Micro-Level Businesses. We had the privilege of sitting down with People’s Bank Deputy General Manager (Payment, Process Management, and Quality Assurance) Nilmini Premalal to explore the intricate details of this groundbreaking service.

Q: What is People’s Bank’s new People’s Mobile Point of Sale (mPOS) solution and how does it benefit SMEs?

A: People’s Bank introduced the People’s Mobile Point of Sale (mPOS) solution, which is designed to empower small and micro-level businesses by enabling them to accept card payments on the go. This innovative technology allows merchants to process transactions using a compact and portable mPOS device, offering convenience and flexibility to their customers.

Q: What types of payment cards can be accepted by the People’s mPOS solution, and how does it enhance payment options for customers?

A: People’s mPOS is designed to cater specifically to the needs of SMEs and micro-level businesses, enabling them to accept Visa and MasterCard payments. This wide range of payment options ensures that customers have flexibility when making payments.

Q: What are the key features of the People’s mPOS?

A: One of the significant advantages of using People’s mPOS is its low discount/commission rate compared to traditional card terminals. Merchants can acquire this payment solution with minimal documentation and hassle. Additionally, there are no monthly target service fees or commitments, making it a flexible and cost-effective solution. Once purchased, the device is fully owned by the merchant.

The People’s Bank mPOS is a compact and portable device which is equipped with a rechargeable battery to ensure uninterrupted operation. This device is designed to be carried effortlessly by merchants. Additionally, the automatic settlement feature ensures that funds are credited to the merchant’s account on the next working day, streamlining the financial process.

Q: How does People’s mPOS ensure the security of transactions and cardholder data?

A: Security is a top priority. People’s mPOS operates with the device’s Wi-Fi and SIM connectivity, ensuring reliable and uninterrupted communication. The device meets the latest security standards to ensure that all transactions are conducted securely and protect sensitive cardholder data.

Q: What is the application process for merchants interested in adopting People’s mPOS, and how can they receive guidance for installation?

A: Applying for People’s mPOS is straightforward. Interested merchants need to complete the mPOS application, sign the agreement, and provide a certified copy of their national identity card, along with a device payment receipt. There are no monthly target service fees or commitments, and the device becomes the property of the merchant upon purchase. People’s Bank provides step-by-step guidance to assist merchants with the installation process.

Q: Where can customers find People’s mPOS applications, and how is the device delivered to them?

A: The People’s mPOS applications are available at any People’s Bank branch, Card Centre, or can be obtained through the People’s Bank website. The mPOS device will be delivered to the merchant’s doorstep by a service provider for their convenience. Customers can also contact People’s Bank’s Call Centre via 1961 to obtain details on People’s mPOS product offerings.

You may also like

Leave a Comment

lakehouse-logo

The Sunday Observer is the oldest and most circulated weekly English-language newspaper in Sri Lanka since 1928

[email protected] 
Call Us : (+94) 112 429 361

Advertising Manager:
Sudath   +94 77 7387632
 
Web Advertising :
Nuwan   +94 77 727 1960
 
Classifieds & Matrimonial
Chamara  +94 77 727 0067

Facebook Page

All Right Reserved. Designed and Developed by Lakehouse IT Division