HBL and Monet makes Cash-On-Delivery more secure for merchants
Habib Bank Limited (HBL) has enabled Daraz.pk to accept credit and debit cards while delivering goods to customers’ door steps. This has been achieved through HBL’s breakthrough service of mPOS (Mobile POS) which has been recently launched.
mPOS solution replaces the existing and only mode of payment “Cash-on-Delivery” with a more safe and secure “Card-on-Delivery” solution. This service minimizes the handling of cash from the delivery cycle and accepts VISA, MasterCard and UnionPay cards. The mPOS can be integrated with backend systems of merchants, thus providing real time transaction data for quick decision making.
HBL introduced POS and Online card acceptance solution last year but the recent addition is mPOS which will change how payments are made via merchant acquiring business. This will enable POS to reduce cash dependency from delivery cycle which will further increase the average value of such transactions, enabling merchants to sell more in a secure way.
Daraz.pk has been using Cash-on-Delivery service to reach maximum customers in Pakistan. However, since the expansion of their online store to other countries such as Bangladesh, Nigeria, Morocco, Egypt, Kenya, Uganda, Ivory Coast, Ghana, Cameron; it may come as a relief for the online venture to accept international orders easily.
Muneeb Maayr, co-founder Daraz.pk said, “We are excited to partner with HBL and Monet and help usher in a new era of innovative payment solutions across Pakistan. The future of online shopping lies in mobile devices, and we are happy to leverage this platform for real time payments also.”
Monet Chief Executive Officer Ali Abbas Sikander added that mPOS is a fast-growing area within the payments ecosystem and financial institutions are ideally placed to capitalize on it. They need to build upon existing revenues and relationships to offer a competitive proposition to merchants.