Commercial Bank, Qatar’s leading provider of payment solutions, has announced the launch of mPOS (Mobile Point of Sale), a new way of accepting payments specifically designed to support merchants’ growing use of mobile devices. Commercial Bank continues to pioneer innovation-led banking solutions and with mPOS, merchants of all sizes can now accept and process payments anytime, anywhere.
mPOS is a new solution designed specifically for smaller businesses, allowing merchants to use their mobile phones as a Point of Sale device to accept Debit and Credit Card transactions. mPOS transforms mobile phones into a highly secure card acceptance device using a Commercial Bank mPOS application and a pocket-sized device that facilitates magnetic stripe and Chip & Pin transactions.
In addition to supporting all types of cards: magnetic stripe and Chip & Pin cards, Commercial Bank’s mPOS solution also provides a merchant portal for online control of payments and reporting. By using mPOS, not only can merchants increase customer loyalty by accepting a wider range of payments but they can do so cost effectively, thereby lowering the cost of cash handling and the cost of expanding their terminal network.
Commercial Bank EGM, Head of Retail and Enterprise, Mr. Dean Proctor said: “In today’s economic environment, retail businesses are looking for secure, easy and portable ways to confidently accept payments beyond just cash and promote their business to a broader customer base. With Commercial Bank’s mobile Point of Sale (mPOS) solution, we are making it even easier for business owners to accept secure payments anywhere.”
He added: “The launch of Commercial Bank’s mPOS solution is set to transform the payments industry in Qatar and coupled with Commercial Bank’s unrivalled market leading position in the retail and commercial acquiring space, we are confident mPOS will be well received by our partners. We are currently in our pilot phase and delighted to confirm that a number of our retail partners have already signed up to launch this exciting new product early in the new year and we fully expect to continue rolling this out further in the coming years to more of our existing merchant partners, as well as new ones.”