By Chisomo Phiri
One of the country’s popular financial institutions, FDH Bank has on Friday announced the introduction of Mini Point Of Sale (POS) device to enable people make digital payments right where they live.
According to the bank, the machine seeks to reach small and medium sized businesses with the digital banking revolution.
Speaking during the launch of the machine , FDH group senior manager ( digital sales) Yamikani Mbawala observed that customers who buy from big supermarkets in town struggle to transact with their cards when they want to buy from small shops in their residential areas hence the new innovation.
” Banks overlook those markets because they are not big enough but they forget that the people who buy from Chipiku or Sana supermarkets live in those areas and that given a chance such customers can transact right where they are than to drive to town to do digital payments,” said Mbawala.
According to Mbawala, the Mini POS uses all bank cards and does not produce a receipt but after the transaction the merchant and customer receive a notification on their phones .
FDH Bank, also FDH Bank Limited, is a commercial bank in Malawi.
It is one of the commercial banks licensed by the Reserve Bank of Malawi(RBM), the central bank and national banking regulator.