Togolese bank rolls out mobile point of sale terminals

Nov 30, 2016

They will allow SMEs to accept credit card payments.

Banking group Orabank has announced the launch of a new solution to allow Togolese micro, small and medium-sized enterprises (MSMEs) to accept payments by credit card.

It is rolling out mobile point of sale terminals (POS), which include a card reader connected to a smartphone - or a tablet - via a secure Bluetooth connection.

"The mobile POS - which will run on 2G, 3G and Wifi - is a solution that converts a smartphone into a payment terminal during a transaction. With this new solution, we offer entrepreneurs a level of service previously limited to large companies. This provides them with a tremendous tool to generate business," said Cheikh Tidiane Ndiaye, the Director of Orabank Togo, quoted by the Ecofin agency.

This solution, certified by Visa and Mastercard, should strengthen the use of electronic payments in the country, but also simplify the accounting of SMEs through the traceability of payments.

Orabank is currently the first bank in Togo in terms of number of cardholders, with over 60,000 Visa cards in circulation.ADNFCR-2976-ID-801829156-ADNFCR