Millennium Bank in Poland is the next bank to introduce a mobile POS application that allows customers to transform their Android phone or tablet into a payment terminal. It guarantees entrepreneurs freedom of settling non-cash transactions with customers.
From July 5th, 2022, the entrepreneurs can use the new Millennium POS application. It allows them to accept payments using a smartphone or tablet with Internet access. The Millennium POS works with devices running Android from version 6.X. Thanks to this solution, the customers can accept contactless transactions with a card, smartphone, or other device equipped with an NFC module. The payments will be accepted in any amount, also above the limit of contactless transactions of PLN 100. In this case, the buyer will be asked to enter the PIN code on the seller’s phone or tablet screen. The entire process is analogous to that performed in traditional payment terminals. The Millennium POS application guarantees security during each transaction. The highest security standards are confirmed by Visa and Mastercard certificates.
“We want to offer our customers the innovative tools to build a modern and competitive business. The payment terminal in the phone is a convenient solution for people who work with customers outside the traditional office. This is another important step for us in building a comprehensive offer for business customers, and we are facing other, equally interesting projects,” – says Hanna Tobiańska, Project Manager at Millennium Bank.
The Millennium POS solution was implemented by Millennium Bank together with a partner – PayTel, a leading provider of payment services on the Polish market. The entrepreneurs can now use the Cashless Transaction Support Program when implementing it. The program offers free use of the application for 5 months and no fees for processing card transactions up to PLN 42 thousand turnovers for customers who did not have a POS within the last 12 months.
“The mobile revolution, which is the POS in their smartphone, will primarily benefit entrepreneurs for whom it is important to accept payments at the place of service and who do not want to carry an additional device with them. You can list here, for example, doctors, taxi drivers, and plumbers. This solution is also appreciated by businesses that focus on quick service and cost optimization. In addition, the POS in the phone fits perfectly with the growing tendency of customers to pay with plastic and changes in the law, which from the beginning of this year oblige all companies that support consumers and register sales at cash registers to enable the customer to make a payment in a non-cash form,” – says Anna Wydrzyńska-Czosnyka, Managing the Business Customer Department at Millennium Bank.
Source: the Bank`s press release dated July 19, 2022
Learn more about functionalities available for SME customers in online & mobile banking channels in the CEE region. Get access to Study or become a member.