Initiated in the year 2015, M-vendr is a top-notch Fintech Provider, headquartered in the United Kingdom. By partnering with banks, MNO's, and other financial institutions, M-vendr is transforming their businesses to stay ahead in the incessantly changing market trends. This leading business organization has revolutionized the way pre-paid digital products, financial services, and payments are delivered to the client in underserved communities via approved Agents and Merchants.
By the virtue of its comprehensive payment acceptance, agency banking mPOS, and VAS distribution channel that M-vendr offers, we initiated from South Africa and now the solution is available in many more African Countries including South Africa, Zimbabwe, Kenya, Tanzania, Nigeria, Sierra Leone, Mozambique, Uganda and more.
In entire Africa and in many other emerging markets, around 3 billion people who live in underserved rural areas are either without access to financial services or are struggling to access these services. These people basically referred to as the unbanked or underbanked and they are deprived of services they should be able to utilize such as paying for goods and services using their bank card, mobile wallet are not available because of unavailability of payment acceptance facilities with the local merchants.
In the past, banks as well as other financial institutions completely relied on the brick and motor branch networks, ATM's and hardware POS terminals for distributing financial services. This infrastructure charged high Capex requirements and was expensive to maintain predominantly in areas where the population density is low and didn't proffer a feasible ROI. Besides, the introduction of money pay has gone a long way to deal with financial inclusion; on the other hand, this has been at the expense of traditional banking institutions that have missed large market share consequently.
Potential Users. Open Source Reference Images Labeled for Reuse
Moweb developed an all-in-one mPOS for payment, vas distribution channel, as well as agency banking. This secure electronic payment system allows direct encrypted payment, real-time reporting, low transaction fees, and contactless reliable payment.
The wide variety of solutions the client is able to offer through the mPOS are
Money transfer and value remittance
Post-Paid Bill Payment Collection
Prepaid Airtime, Gift cards & Electricity Distribution
Transport, Event Ticketing Distribution
SIM Card Registration & KYC Data Collection
Card, QR Code, Mobile Wallet Payment Acceptance
License Issuance, Tax Revenue Collection
By the virtue of our M-vendr mPOS, earlier underserved and unbanked customers are now able to access financial services and the value-added services in their local communities through merchants or agents locations. Moreover, the M-vendr mPOS we created enables better interaction between the customers and their financial institutions by allowing payment acceptance by smaller retailers and informal traders who earlier would only accept cash payments. Using this solution is ideal for paying prepaid mobile airtime, prepaid electricity, prepaid water, postpaid bill payments, national lottery, insurance premiums, money transfer, ticketing and more.
The agency banking distribution channel has proven to be a very effective medium for the distribution and delivery of banking and other financial services to previously unbanked or underbanked customers in many places in Africa and new emerging markets,. With a huge retail sector and growing mobile penetration, M-vendr's mPOS solution allows financial institutions to touch-base these customers by cost-effectively deploying vast networks of authorized agents or merchants offering financial services and more within previously underserved communities.
Traditionally, merchants never accepted card payments and just operated on cash. Now more and more merchants are turning to Mobile PoS to accelerate sales and augment their customer base.
M-vendr is a mobile point of sale extension deployed to deliver a seamless customer experience by eliminating serpentine queues at the checkout counters.
Apart from that, M-vendr adds the power and functionality of a traditional terminal POS into a mobile device that enables the modern retailers to service customers from anywhere at any time.
M-vendr is available on Android Application for Mobile & Tablet and Web Panels for Super Admin & Staff, and Operator & Staff.
Hardware POS Solution
M-vendr mPOS Application
|Costs US$250-$700 to buy or lease||Nominal licensing cost while using users existing smart phone|
|Lengthy on-boarding, installation and adoption process||Instant download, agent registration, KYC and activation|
|Largely supports prepaid digital content only||Supports multiple products and services, easier to add new ones.|
|Requires dedicated electricity point and retail counter-top space||Does not require a dedicated workspace or electricity point|
|Inefficient & expensive to scale and maintain||Cloud based, enabling quicker scaling and maintenance|
|High barriers to entry for retail merchants and agents||Low barriers to entry for retail merchants and agents|
With M-vendr mPOS, you can take your business direct to your customers. Apart from that, it makes debit/credit card and mobile money & digital wallet sales and there that too securely and receives funds into retailers account soon or in few days. This is all now possible with a small device that fits well in the pocket. All this can be done by retailers only by signing up for their very own mPOS account.
Compatible with Android mobile devices, this eliminates the need to look for other vendors and a mobile payment gateway.
With a smartphone and internet connection, you can accept credit card payments anytime anywhere in real-time.
Configuring and setting up device takes a few minutes which enables merchants to start accepting mobile payments instantly.
The transactions are end-to-end encrypted end-to-end, and the reader/terminal itself is an EMV-approved unit that can’t be opened without erasing its data.
Reduces loss of sales that occurs due to long queues and allow real-time acceptance of card transactions