Atlas Mara to launch mVisa across African footprint

Africa-focused financial services group Atlas Mara signed a partnership deal with Visa to launch mobile payment system mVisa into several countries across sub-Saharan Africa.

London-listed Atlas Mara holds interests or controlling stakes in banks across the region – including Botswana, Zimbabwe, Zambia, Tanzania, Mozambique, Rwanda and Nigeria – all of which will have access to Visa’s mobile payment facility and money transfer service Visa Direct.

MVisa is the company’s mobile payment service aimed at developing markets. Announced in 2015, it was first made available in India and since launched in several markets around the world including Nigeria and Kenya through the company’s banking partners.

POS apparently refers to the checkout counter. It also refers to ability to accept payment via the customer’s mobile phone and this is already being conquered at traditional checkout counters by Apple Pay and Android Pay with their partnership with credit card companies and banks.

If however mobile POS refers also to the use of cloud based POS on smartphones by retailers, most of these in the market cater to businesses with a relatively small inventory and simple checkout requirements. POS as the back end system will continue to be indispensable particularly to large & medium sized businesses. www.mobileworldlive.com/

 

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