MPOS technology has made the world undeniably smaller, allowing consumers and businesses alike to make and accept payments from around the corner or around the globe.
The future of payment technology will likely follow that path, becoming more universal as the technology becomes more commonplace, according to Alok Arora, CEO of Mosambee, an mPOS provider offering near-universal payment acceptance.
PYMNTS recently caught up with Arora to discuss Mosambee’s recent expansion into the United States and the universal future of the mPOS industry.
Here’s a preview:
“The solution is open in that it can adapt and add more methods of payment,” Arora explained. “The whole idea is that the merchants need not lose a transaction just because the customer wants to pay using a new method or one not supported by [our] solution, so we support all forms of payment.”
To accept such a broad range of payment options, including credit and debit cards, mobile and prepaid wallets and Indian payment methods, such as IMPS, Arora and his team have sought to form partnerships with card providers. These partnerships, he said, are essential to the company’s engagement model.
Mosambee has collaborated with more than a dozen different partners, including industry leaders, like Mastercard and American Express. The company formed an exclusive partnership with Visa when it became the only mPOS provider in India to establish direct card processing connection with the credit card company.
Around The mPOS World
Over the course of the past month, companies throughout the mPOS industry formed partnerships in order to offer better, more universal mobile payment options to their customers.
Indosat Ooredoo was one such mPOS device manufacturer looking to improve its offering via a partnership. Under the terms of the partnership, Indosat will integrate GoSwiff’s payment acceptance technology into the company’s new D-Pay solution. It was a busy month for GoSwiff, as the company also partnered with ING Bank Romania to create an mPOS platform supported by Mastercard.
BluePay also looked to strengthen its product with an integration, as it announced an agreement with CardFlight that will allow BluePay merchants to accept EMV-enabled credit and debit card payments. Meanwhile, Intuit QuickBooks decided that, if some is good, more is even better, as it opted to extend its partnership with mPOS technology provider Revel Systems.
The September edition of the mPOS Tracker™ features the latest industry news in the mPOS space, along with profiles of more than 200 players, including five new additions to the tracker.
To download the September edition of the PYMNTS.com mPOS Tracker™, click the button below…
About The Tracker
The PYMNTS mPOS Tracker™ is your go-to resource for staying up to date on a month-by-month basis. The tracker highlights the contribution of different stakeholders, including institutions and technology coming together to make this happen.