FDH Bank Plc says it has seen a 140% increase in transaction volumes from merchants and small to medium businesses after the introduction of the Mini POS (FDH MPOS) in September last year.
FDH MPOS is the first easy-to-use handled POS Machine on the market, that can take all local bank cards as payment for transactions and does not require receipts.
The Bank’s Digital Sales Senior Manager Yamikani Mbawala says they have received overwhelming responses from small to medium businesses from the onset.
“We are delighted with the response so far and our goal is to make it accessible to more SMEs in the country so that we champion inclusion by providing a platform where small to medium business owners can take card payments from any Bank in Malawi,” said Mbawala.
Mbawala added that the MPOS enables business owners to take card transactions and payments from all banks in Malawi, assists merchants in managing cash and re-ordering, and allows immediate access to cash from all banks requiring no waiting period, and is available to all SMEs.
Mathambo Lowole, owner of Sunnyside Lodge also commended the the Bank for the device on the first use in September 2023 during the launch of the facility dubbed “Tswaa MiniPOS”.
The easy-to-use gadget has a 13-hour battery life with a fresh keypad and Android look giving it longer endurance than the traditional POS machine.