Firm to pilot PoS innovation in Lagos, Abuja, others
PHOONEPOS Technology Limited, the Nigerian subsidiary of the United States technology company, has announced plans to test its Point of Sales innovation in Lagos, Abuja, Ogun, Oyo, Kano and Rivers states this month.
The Founder, Phoonepos Inc., Mr Olaniyi Adeosun, explained that the technology allows interested subscribers to convert their mobile phones to PoS terminals and offer agency banking services across the country.
According to Adeosun, the service called phoonePOS, addresses current gaps in the financial services marketplace, especially the requirement for huge entry-level investments in POS equipment acquisition.
He said, “PhoonePOS is a response to the ever growing need to make Nigeria a better place where ubiquitous and reliable financial services are on offer.
“Often, equipment acquisition cost and unreliable Internet service hamper the possibility of people to access banking services”.
Adeosun stated that in line with the Central Bank of Nigeria policy to promote financial inclusion for more Nigerians, the service would drive this quest across the country with the innovation.
The company, according to him, is focused on encouraging female entrepreneurship in financial service delivery and will offer a 15% discount on payments to every female that signs up for the service.
The discount, he noted, would be credited to beneficiary’s wallet directly.
“Although there is a lot of progress already made due to government’s financial inclusion policy, a lot of ground remains uncovered, especially in places of little or no internet services. These are some challenges that we have come to address”, he said.
Adeosun who doubles as the Chief Technology Officer of the firm, said registration for the service was simple and affordable as it only required signing up via the internet platform or dialing a short code to provide all necessary details.
He explained that the two major advantages of PhoonePOS over other solutions were that the service neither required internet to function nor the use of ATM cards to have access to cash through registered agents.
This, he said, meant that the service could be operated everywhere regular phone services were provided.