Visa launches payment solution for traders

Hong Kong – Visa debut its new mobile point-of-sale (mPOS) solution in the city at HKTDC’s Hong Kong International Jewellery Show.

Targeted for merchants on the go, the iOS and Android – friendly system accepts credit card payments from buyers to avoid handling large bundles of cash or enduring the tedious procedures of card verification. 

“It is with great pleasure for Visa to join hands with HKTDC to provide a cost effective payment solution to the world,” said Tom Tobin (pictured), country manager of Visa Hong Kong and Macau. “Through the solution, we’re about to link local buyers to business-to-business suppliers in a secure and safe environment.”

The mPOS first requires the user to connect an external card reader to the ear jack, download the app and log in. To initiate a transaction, the merchant can key in the amount or choose an item from its pre-set inventory (also doable on the app); an order summary will pop up.

The customer then swipes the card, sign on the screen for verification and type in their information. An email will then be sent to both the cardholder and the merchant for record.

Pre-set discounts can also be applied before check out.

For security, the cardholder’s information will be stored in Visa’s head system rather than the phone or the card reader. 

Visa’s mPOS system started up in the US two years ago, targeting industries like retail, insurance, home delivery and logistic companies, to name but a few; it was adopted by more than 100 exhibitors in HKTDC’s Hong Kong International Jewellery Show.

The programme will soon employ NFC functions to read the card.

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