Fintech smart point of sale terminals to easy real time cash, cashless transactions across multiple platforms in Uganda

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Fintech, a leading enterprise information technology solutions and services provider, launched a new generation of smart point of sale (POS) terminals that will increase efficiency in payments for retail customers.

The POS terminals will allow real time cash and cashless transactions across multiple platforms. Fintech who are the sole distributors of the new POS devices locally are optimistic that the new technology will greatly improve transaction turnaround for retail businesses thus improving the quality of services offered to customers.
The terminals are aimed at delivering a more reliable, sustainable, flexible and secure experience to the different users. They are more like a modern phone which operates on different customized versions of android, integrated with card payment systems, camera, a high speed printer and scanner. They are also integrated with different communication modules such as 2G, 3G, 4G, Wi-Fi, Bluetooth and GPS among others.

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“After an extensive research we discovered a very specific need to produce a device that is reliable and flexible for the agency banking system…” said Mr. Barry Ryan the CEO of Fintech International in an interview.
He added that the devices have many advantages which include affordability, easy to use, highly secure and allow for mass customization.

According George Ondego Fintech’s Infrastructure and Services Manager, the introduction of the devices was inspired by the need to counter challenges service providers faced when using traditional POS.
“We are very keen to address the area of financial inclusion with the products and services we offer. We want to make sure that people who are deep in rural areas can access financial services” Said Vincent Ondiff, Fintech’s Regional Manager.

Addressing stakeholders during the launch, Mr. Wilbrod Owor the Executive Director of Uganda Bankers Association said “I have been close with Fintech team in my banking life but closer when they were delivering the agent banking devices. Fintech walked with us all the way. The sector is being driven by technology and digital infrastructure is going to be the agenda for a very long time.”

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