ING mPOS launched in Romania by ING Bank, together with GoSwiff and MasterCard

Source: GoSwiff

ING Bank Romania, together with GoSwiff and MasterCard, launches ING mPOS – a new service for card payments collection for merchants.

  •  ING mPOS is mobile, so it accepts payments anywhere, not just in the store 
  • The information processing is encrypted, the data used is entirely safe
  • It uses a mobile application for connection to the bank’s systems

Mobile payments through ING mPOS

ING, through a project developed with GoSwiff and MasterCard, introduces on the local market a new payments collection service which allows small, mid and large merchants to accept card payments through ING mPOS. It is an accessible and easy to use method for transactions through mobile devices, smartphones and tablets, connected to a card reader.

ING mPOS accepts any type of card, it contributes to productivity improvement and allows real time access to transaction records. Moreover, it supports other added value services, including consumer loyalty applications, applications to interact with them and to increase repeated purchases. 

‘ING mPOS is a method of payment advanced and simple at the same time, consistent with our strategy to make banking simple for our customers. Companies in multiple industries such as insurance, transport or retail, can benefit from simplifying the card acceptance process. This alternative solution meets the same high security standards as other methods implemented by  ING so far, but allows much more flexibility," said Mihaela Bitu, Head of Wholesale Banking, ING Bank.

Mobile payments gain popularity in Europe and ING Bank sees Romania as a promising market for this service. Enjoying a high growth of smartphones market and improved security conditions, ING considers payment innovations, such as mobile payment points (mPOS) and contactless technology, attractive growth opportunities for merchants.

MasterCard acknowledged the innovation and practicality ING mPOS brings and joined this project as a strategic partner, continuing its investments in in equipping Romanian merchants with terminals, in order to increase the adoption of electronic payments and, thus, financial inclusion. 

“Mobile POS terminals have the potential to completely transform the payments ecosystem, giving merchants, regardless of the type or size of their business, the possibility to accept card payments and, thus, providing consumers with a secure and efficient payments method. Moreover, being a very efficient solution both operationally and financially, it has the potential to
expand the footprint acceptance of electronic payments to areas previously financially excluded,” stated Gabriel Ghiță, Head of New Business CEE, MasterCard Europe.

The access to statistics, reports, financial accounting reconciliations, or other information readily available in digital format contribute to the transformation of banking, adapting it to increasingly dynamic needs.

“This is an exciting time for the payment industry especially in the developing markets such as Eastern Europe, with technology enabling enhanced mobility in payments, increased security, accessibility and productivity improvements
for merchants,” said Stefano Diemmi, Head of Europe and Global Accounts of GoSwiff. “It is a privilege to be partnering with such a forward thinking bank as ING, to develop card acceptance infrastructure to the benefit of consumers in Romania.”

The first client of this new service is NN Life Insurance, the market leader in the field, which was interested in a solution that would enable its financial advisors to operate card payments anywhere, and benefit the company's customers.

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This content is contributed or sourced from third parties but has been subject to Finextra editorial review.

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