Moniepoint tests “all-in-one POS terminal” after Grocel acquisition
The Moniepoint’s new all-in-one POS terminal will features payment processing, inventory management, and transaction reconciliation.
Moniepoint tests “all-in-one POS terminal” after Grocel acquisition
Moniepoint is testing a POS system that’s similar to Jack-Dorsey’s Square and Stripe—a global payment network that provides POS solutions that go beyond basic payment processing. However, the Moniepoint’s new POS system will features payment processing, inventory management, and transaction reconciliation. The company could lay its hand on this project after it had acquired Grocel, a fintech company that specializes in providing comprehensive business solutions for retail enterprises through simple business banking, bookkeeping, and inventory management tools. The Moniepoint-Grocel acquisition allowed Moniepoint to retain Grocel’s team, and they have been working together on integrating business management capabilities into Moniepoint’s POS terminals. Moniepoint has the largest agency banking network in Nigeria with vast amounts of agents and over 800,000 POS terminals in circulation. The company can also boost for over 2 million business users in Nigeria. Moniepoint will utilize all these…
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Temmy Samuel is a seasoned journalist with extensive experience in consumer tech, economy, finance, business, money and politics. Currently, he’s studying Accounting at the Federal University of Oye-Ekiti.
