Habib Bank Limited (HBL), Pakistan’s largest bank, has enabled Daraz.pk, Pakistan’s largest online store to accept credit and debit cards while delivering goods to customers’ door steps. This has been achieved through HBL’s breakthrough service of mPOS (Mobile POS) which has been recently launched.
The mPOS solution enables merchants to accept payments through debit and credit cards while delivering goods to customer door steps. This replaces the existing and only mode of payment “Cash-on-Delivery” with a more safe and secure “Card-on-Delivery” solution. This reduces the responsibility of handling cash from the delivery cycle. The service accepts VISA, MasterCard and UnionPay cards. The mPOS can be integrated with backend systems of merchants, thus providing real time transaction data for quick decision making.
Faiq Sadiq, Head Payment Services HBL, commented: “HBL is taking the merchant business very seriously, with introduction of POS and Online card acceptance solution last year; the recent addition is mPOS which will change the landscape of how payments are made via merchant acquiring business. This will enable the POS to go to people instead of people coming to POS. The reduction of cash dependency from delivery cycle will further increase the average ticket size of such transactions, enabling merchants to sell more in a secure way.”
Muneeb Maayr, co-founder Daraz.pk added “We are excited to partner with HBL and Monet and help usher in a new era of innovative payment solutions across Pakistan. The future of online shopping lies in mobile devices, and we are happy to leverage this platform for real time payments also.”
Monet Chief Executive Officer Ali Abbas Sikander said: “While mobile is changing the payments market, mPOS is a fast-growing area within the payments ecosystem and financial institutions are ideally placed to capitalize on it. In order to do this they must build upon existing revenues and relationships and offer a competitive proposition to merchants, which can be scaled easily to meet future business and consumer needs.”
Caption: Key members of HBL, Monet & Daraz.pk teams at the signing of Card-on-Delivery solution agreement
Sitting, Left to Right: Irfan Qureshi – Head of Product Development HBL, Abbas Sikandar – CEO Monet, Faiq Sadiq – Group Head Payment Service HBL, Muneeb Maayr – Cofounder Daraz.pk and Nabeel Ahmed – Head of Debit Cards HBL
Incorporated in 2012, Daraz.pk is an online shopping portal featuring apparel, accessories, shoes and beauty products for both men and women, as well as a wide variety of electronics. Daraz.pk currently offers a portfolio of over 400 brands and 15,000 products and hosts 1.2 million unique visitors to its website every month. Headquartered in Karachi, it delivers both internationally as well as across 200 cities and towns in Pakistan. Daraz.pk is part of the Asia Pacific Internet Group (APACIG) which supports some of the leading internet companies in the region.
The Asia Pacific Internet Group (APACIG), a joint venture of Rocket Internet and Ooredoo, is the leading internet platform in Asia, supporting some of the top internet companies in the region. Founded by Rocket Internet in 2014, the APACIG’s mission is to promote innovation and entrepreneurship throughout Asia Pacific, as well as to support the development of a vibrant online culture. The APACIG’s network currently consists of 10 companies, operating in 15 countries.
Monet (www.monet-online.com) is a Cards and Payment services provider in mobile, branchless and alternate banking domain, working with a vision to digitize payments in the cash based economies. We operate from Karachi, Pakistan, as a completely hosted payment processor, having our own systems and infrastructure hosted and operated at our data centre(s) to serve the banks, fis and merchants by furnishing their payment automation and transaction processing needs.
As Pakistan’s worldwide bank, HBL offers banking solutions to customers in 29 countries spanning across four continents. Its tradition of personalized service and capacity to respond to customer needs makes HBL the largest bank in the country.
Through a robust network of 1,547 branches across Pakistan, HBL pursues financial inclusion with vigour. Its 1400+ ATM’s nationwide offer unmatched convenience. The bank maintains the lead in providing solutions through alternate delivery channels.
HBL continues to expand its franchise and enhance its capacity through a balanced approach to capital preservation and growth. At HBL, banking