OP-Pohjola and Monitise Sign mPOS Deal
Finland’s OP-Pohjola Group, which comprises around 200 member cooperative banks, and mobile money specialist Monetise have signed a three-year deal that will enable the banking group to offer multi-language mobile point of sale (mPOS) services to its small business and merchant customers.
The service will be available initially across the iOS mobile operating system and Android platforms in Finnish, Swedish and English languages. OP-Pohjola’s merchant customers will also be able to generate digital tax credit receipts to reclaim up to half of the value of qualifying invoices as part of Kotitalousvähennys, a government-backed scheme in Finland.
“Following the success of our mobile banking services we are delighted to announce the forthcoming launch of mobile payment capabilities to empower our small business customers to manage their finances more easily on the move, via the bank they are familiar with,” Kasimir Hirn, OP-Pohjola’s director of cards and emerging payments.
“We recognise the power of mobile to be an incredibly valuable channel to provide convenient, secure and easily accessible services to make our customers’ lives easier. We look forward to working with Monitise to launch innovations in this area.”