Amal Technologies, has launched a point of sale (POS) which the Nigerian technology company said is the first of its kind in Africa.
The Nigerian-based African technology company said that the launch of its “groundbreaking POS device” after two years of dedicated development.
This innovative POS device, according to the technology company, was designed to enhance digital transactions in Africa, and address the growing demand for efficient payment solutions in Nigeria and beyond.
According to the statement from the tech company, its POS device “doesn’t just check all the boxes of traditional POS features, it also includes our groundbreaking offline payment feature, allowing seamless transactions even without internet connection” that is enabled by the simple act of tapping a QR code.
Since its inception, POS systems in Nigeria and Africa have offered a seamless mode of transaction, reducing the need for people to queue in bank halls or at ATMs to collect cash or perform transactions, while also minimising reliance on traditional banks, according to the tech company.
According to the Nigerian Inter-Bank Settlement System (NIBSS), POS transaction rate “increased by 40.69% from January 2022 to January 2023, rising from ₦573.72bn to ₦807.16bn.” This data shows that transactions are increasingly moving beyond traditional banking.
With the growing number of POS centres in Nigeria today, reliable internet access has become very important for business operations. The introduction of Amal’s POS device enables convenient transactions without the need for an internet connection, addressing a significant gap in the POS market. This gap can be traced to the divide that exists between areas in Africa that lack the technological capability to meet the demands of the digital age (e.g. having a stable internet connection) and those that have the technological capability to.
Who is Amal Technologies?
Amal Technologies prides itself as a research and development powerhouse in Africa that specialises in consumer electronics, hardware, and embedded engineering. The technology company focuses on designing and producing smart devices and Printed Circuit Boards (PCBs), while also offering tailored solutions for startups and established companies in the tech industry.
With six years of experience, a workforce of 100 staff, and ten products to its name, Amal Technologies says it has positioned itself as one of the most forward-thinking technology companies on the African continent.
The company has so far earned certifications from various organisations, including the Nigerian Communications Commission (NCC), Standard Organisation of Nigeria (SON), Nigeria Electricity Management Service Agency (NEMSA), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Standard Transfer Specification Association (STS), and the CE marking.
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