The Mexico-based mobile point of sale (mPOS) provider Sr. Pago announced earlier this week that it had launched its own card-based payment system. This move is expected to benefit small businesses, as it will allow companies to accept credit card payment for the services they provide. Additionally, organizations will be able to transfer money to a MasterCard debit card and make purchases with the card at MasterCard’s worldwide acceptance.
The Sr. Pago Card System provides a chip-based debit card and a chip card reader that connects to any smartphone or tablet. There is also an available app that can manage transactions.
Sr. Pago added that the new card will also be made available to individuals.
MasterCard Mexico and Central America’s VP of acceptance and acquirer relations Guillermo Escobar said in a company statement that his organization is planning on extending the service to other countries after this launch.
"The significant growth of smartphone penetration throughout the world, the inaccessibility of banking services in emerging markets and the increasing use of debit cards make the Sr. Pago Card combo a great opportunity for micro merchants and independent professionals,” Escobar said.
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