Empowering merchants with BOV MobilePOS: A leap towards cashless society
As digital payment solutions evolve, BOV mobilePOS stands at the forefront of this transformation. This innovative SoftPOS (Software Point of Sale) technology, recently introduced to the local market by Bank of Valletta, offers merchants a seamless and cost-effective way to accept contactless payments. By turning NFC-enabled Android devices into payment terminals, BOV mobilePOS eliminates the need for traditional hardware, setting a new standard for cashless transactions.
How BOV mobilePOS works
Merchants can easily download the BOV mobilePOS app from the Google Play Store, allowing them to accept payments via credit and debit cards, mobile wallets, and other NFC-enabled devices. This system supports secure transactions by adhering to international payment security standards. The process is as simple as customers tapping their card or device on the merchant’s smartphone, with the transaction being processed instantly.
Benefits for merchants
BOV mobilePOS provides unparalleled mobility and flexibility. Merchants can now accept payments from anywhere, making it particularly beneficial for those operating outside traditional storefronts, such as delivery services or pop-up market stalls. In-store businesses also benefit, as the solution allows for multiple mobile points of sale, enhancing the customer experience by allowing employees to process payments directly from the sales floor.
Another key advantage is the environmental impact. By eliminating traditional EPOS hardware and reducing the need for paper receipts, BOV mobilePOS aligns with Environmental, Social, and Governance (ESG) goals. Customers who prefer a receipt can scan a QR code, enabling businesses to contribute to more sustainable practices.
Benefits for customers
For customers, BOV mobilePOS means faster, more convenient transactions. With just a tap, they can complete purchases without the hassle of carrying cash. The system’s advanced encryption technology protects sensitive data, providing peace of mind in an increasingly digital world.
A cashless future
As businesses and consumers shift towards cashless transactions, BOV mobilePOS is a game-changer. Its flexibility, security, and eco-friendly approach make it a practical alternative to traditional payment methods, helping merchants adapt to the demands of modern consumers. With this solution, Bank of Valletta is not only enhancing the payment landscape but also contributing to the broader goal of creating a truly cashless society.
The BOV mobilePOS app can be downloaded seamlessly from the Google Play Store. To apply, use the QR code on the next page and fill in your details on the form. A BOV representative will contact the merchant and set up the system quickly.
If you have inquiries, you may contact the Bank’s Customer Service Centre at 2131 2020 or submit a query at https://www.bov.com/help-support.
As regulatory demands grow more complex, technology has become indispensable for ensuring compliance with anti-money laundering (AML) and counterfinancing of terrorism (CFT) regulations. The Financial Intelligence Analysis Unit (FIAU) advocates for advanced solutions like machine learning and AI to navigate the challenges of data analysis, transaction monitoring, and identity verification.