Big Barclays Bank, MTN Zambia Launch Point Of Sale

Barclays Bank Zambia in partnership with MTN Zambia, a couple of days ago, launched a payment system called POS (point of sale).

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POS also a POP point of purchase is a place where a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer. The indicated amount may be prepared into an invoice for the customer and then an indication is done for payment options.

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Barclays Bank POS, How Will IT Work? With the MTN Mobile money service, the customer will choose to use their phone’s Mobile Money facility to pay for goods. Currently, say am shopping in Game Stores and I run out of money in my bank card or I do is simply transfer my mobile money into the bank.

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Rather than transferring into the bank for card swiping the new payment system will enable me to pay straight from my MTN Mobile money using the Barclays POS system.

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Available points of sale obviously will include renowned retail outlets such as Shoprite, Pick n Pay, Game STores, DSTV and many more.

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The new digital payment system will allow all MTN customers to pay for goods and services on any Barclays POS using a MoMo account.

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Barclays Bank Future Of Inclusive Banking

This technology is aimed at increasing financial inclusion for all Zambians whilst offering customers enhanced convenience.

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Also, it is aimed at increasing Financial Inclusion in Zambia through Banks utilizing mobile money facilities. This is literally brings banking services to everyone who has access to a phone in Zambia.

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ALSO: Mobile Money Transfers Impact in Zambia