With customer habits evolving at an unprecedented rate, the payments industry as a whole is turning on its head via the introduction of digital wallets (Apple Pay, Samsung Pay, Mashreq Pay, etc.), exponential increase in e-commerce transactions, QR
While the banks,
The traditional payment terminal needs an urgent revamp to keep up with the changing world around it. Mashreq Bank has partnered with Checkout Point Systems to introduce the world’s first “smart” POS terminal – the Poynt Smart TerminalTM in the UAE.
The Poynt Smart TerminalTM offers multiple value added features/services for retailers. It is equipped to accept a wide range of payment interfaces like Cards, Contactless (Apple Pay, Samsung Pay, etc.), QR Code based payments such as Alipay, etc. This essentially makes the terminal “future proof” in the face of increasingly diverging modes of payments. It also features an interactive customer facing touchscreen which improves the customer experience while also providing increased security (complying with the latest PCI and EMV security standards).
Checkout Point Systems utilizing their expertise as an Enterprise solution provider will also offer a bundled Software-as-a-Service (SaaS) based ERP for SMEs with the Poynt Smart Terminal. This will equip SME retailers to compete with their large-sized competitors on an equal footing utilizing similar tools and Customer Data analytics. The retailer will be able to access an online portal providing transaction records and details for both cash and card transactions. For larger retailers, the Smart Terminal can integrate with their ERP solutions as well as loyalty programs allowing simplified loyalty redemption by customers at the payment terminal.
Mashreq has a long history as the UAE’s most progressive Bank, enabling endless possibilities for its clients through meaningful innovations. The introduction of Poynt Smart Terminal marks another first for the bank. Be it the first ATM, the first credit card, first POS, first MPOS, first contactless sticker based payments (Tap n Go) or the first mobile banking app, Mashreq has alCheckout Points had innovation at its core, continuously enhancing products and services to adapt to customer evolution and changing market needs.