Payment processor Global Payments Asia-Pacific Ltd. and telecom service provider Dialog Axiata PLC are offering technology in Sri Lanka that enables smartphones or tablets to be used as mobile point of sale terminals.

The service is aimed at small to medium-sized businesses, which can use the mobile devices to accept MasterCard or Visa card payments. The businesses download a free app to their iOS or Android mobile devices and connect a physical card reader.

"We believe this is the latest step in a series of progressive developments for the mobile payments market, and has the potential to open up an entirely new customer base for SME businesses," said Fariq Cader, senior general manager of mobile money and payments at Dialog Axiata, in an Aug. 28 press release

Mobile payments technology often enjoys brisk adoption in emerging markets, with the card networks, telecoms and money transfer services supporting multiple initiatives.

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry