Innovectives, a mobile point of sale (mPOS) service provider says it has join forces with e-commerce company, Konga to create a payment system for e-commerce consumers in Nigeria.
Under the plan, both companies say they will create a seamless delivery and payment system under a move to deepen the cashless policy initiative promoted by the Central Bank of Nigeria, the apex bank in the country.
Emmanuel Agha, MD/CEO of Innovectives, says the level of e-commerce transactions conducted in Nigeria in the past three years has increased exponentially, hence need to provide convenient, cutting edge and secure payment solutions.
”But the challenge is that 95% of the transactions are pay-on-delivery, which are largely settled with cash. Our mPOS solution is designed to improve the delivery process and reduce cash handling in the entire order fulfillment process as well as make reconciliation seamless”, the CEO says.
According to the companies the Kesh mPOS, which is powered by Innovectives, and supported by MasterCard and UBA will make it easier for Konga customers to pay for their orders and enhance payment acceptance while making reconciliation easy for Konga customers and sales agents.
”The new mPOS will accept MasterCard, Visa and Verve cards from all banks, and it enables Konga delivery agents to easily capture sales. Other cards accepted on mPOS are UnionPay, Freedom Card and Genesis cards. Customers can also confirm payments on the spot thus improving accountability in e-commerce transactions”
Dr. Yinka Adedeji Divisional Head, Digital Banking, UBA, says that Konga delivery would be able to accept payments from a phone like POS terminal. “UBA is powering this with its advanced digital payments technology.”
UBA has partnered with Konga and integrated the innovative payment solution because it offers Nigerians who are increasingly shopping online sheer convenience. MPOS offers a significant improvement in transparency in the way customers pay for their goods.
”Payments on mPOS are 100% secure. It is accepted on all local and international cards”, the companies said.