Moniepoint is developing a new innovative PoS system that integrates payment processing with inventory management, following the acquisition of Grocel.
Integration of Management Functions
Following the acquisition of Grocel, Moniepoint started incorporating Grocel's business management features into its PoS terminals to include inventory management. The new system will allow for a combination of business processes and record keeping, saving time and reducing the risk of information theft.
Competition in the PoS Market
Amid competition from companies like Mira and Nomba, Moniepoint hopes to solidify its position with its extensive network of PoS terminals. However, competitors already offer multifunctional devices supporting various business needs.
Moniepoint's Investments and Growth
Recent investments from Visa amounting to over $10 million support Moniepoint's growth and the development of financial infrastructure in Africa. These funds aim to expand market presence and implement technological innovations like contactless payments.
Moniepoint’s new initiative provides opportunities for improving business processes for companies across various segments. It also creates a potential for Moniepoint to increase transaction volumes and strengthen its position in the fintech market.
