Mobile point of sales (mPOS) service provider Mosambee plans to expand their international presence by tapping the US market and broadening footprint in Africa, a media report said.
The startup also intends to take advantage of it being the only mPOS player in India with direct connectivity to VISA for transaction processing. Alok Arora, CEO at Mosambee, told ET that the company would be targetting Asia, West Asia and the US over the next 12 months.
"Along with our proprietary mPOS solution, we are the only company in India with direct con nectivity to the card schemes such as VISA and American Express for transaction processing," Arora told Economic Times, adding, "This unique combination enables us to offer banks the entire infrastructure required for acceptance of card payments. Our bank partners can, in turn, offer their customers and merchants the latest digital and innovative payment modes."
With the Narendra Modi-led government set to increase focus on financial inclusion, the need for mPOS machines in smaller locations will only increase.
Mosambee will look at working with smaller banks that do not have a VISAMaster Card alliance to enable them to continue to process these transactions. This will give banks a full solution on a licensed, pay as you go model where the merchants can get a VISA connect, an mPOS as well as terminal management solutions through Mosambee. The company also has an integrated wallet offering with most of the e-wallet firms aggregated on it.
Alongside growing this segment domestically, the international business is also an area of focus. The company has a presence in a few cities in Africa and Qatar. The device is a white label mobile point of sale system that is being used by banks like HDFC in India.