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Cashless payments for transport and logistics industry

Point of sales device photoThe transport and logistics industry now has a tool, available for free, which enables instantaneous and cashless payment for goods to be taken anywhere in the world, avoiding the considerable risks and costs associated with cash handling.

A new device from mPowa transforms any mobile phone or other web-enabled mobile device into a mobile point of sales device, which will accept payment from any major credit and debit card, and deliver an electronic invoice immediately via text message or email.

Dan Wagner, award-winning serial British entrepreneur and CEO of mPowa, said, “When transport and logistics operators use mPowa, trucks no longer have to carry cash. Not only does this reduce ‘flight’ risk, it also reduces considerably the risk of hijack of vehicles and personnel in areas of the world where there are major security concerns. Both at home abroad, carrying cash makes a vehicle vulnerable as a target to criminals.”

The service consists of a mobile phone app for iPhone, iPad, Android, Windows or Blackberry devices, and a card reader. This can be either a magnetic stripe reader (MSR) which can be plugged into the phone’s headphone socket or a Chip & PIN device. No matter what make the smartphone is or which operating system it uses, mPowa’s device enables secure payment immediately on delivery.

Avoiding the risks of cash is not the only advantage of the new device. It also banishes paper invoices, which have to be retained and collated, and which especially on longer journeys may risk being lost, stolen or even tampered with.

Dan said, “This allows logistics companies to incorporate invoices immediately into their IT systems, enhancing security and streamlining business operations and making them fully transparent both to the company itself and to its customers. The device will identify the operative, date and location for each transaction, aiding efficient management of staff and resources.”

Accepting payments with mPowa also abolishes capital expenditure on expensive and clunky EPOS equipment and replaces a hefty monthly arrangement fee by a small and manageable operating expense, a small percentage of each payment.

Dan summarised, “In a business in which overheads such as fuel and currency exchange costs constantly fluctuate, using mPowa for payments aids predictability and drives cost savings.”

He continued, “This new device is a win-win for transport and logistics businesses. They can offer their customers guaranteed immediate payment on every consignment. The tremendous benefit to any business of the increased cashflow is hard to overemphasize, especially in uncertain economic times when businesses everywhere are struggling to keep down costs and maintain profitability.”

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