Thursday, January 22, 2015

HBL-Mastercard launch mobile Point of Sale (mPOS) service in Pakistan

For developed countries or even large marts in developing countries, swiping a debit or credit card for payment is a routine payment method... but due to the equipment and other technological needs, small business and shop owners have never been able to use it to their advantage. They just deal in cash and that's something that makes life without pocket cash near to impossible.

The frugal nature of Juggaars is the core concept of tackling such scenarios. First it was micro finance solutions such as easy paisa and mobile banking in Pakistan that took care of the banking, bill payments and such needs.... now Habib Bank Limited is launching a service in collaboration with Mastercard which is an obvious follow suit for every other bank and probably for Visacard as well. The mobile Point of Sale (mPOS) service only requires the swipe device attached to the receivers' cell phone and an app to tag along with it - and that's it. You can now swipe your ATM / Debit card or a credit card at the general store or at the groceries next door.

The real question here is, how soon will it get to the street hawkers? ;)

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