Branded to Your Financial Institutions, Tailored to Your Merchants

While some financial institutions focus upon personal accounts, loans, and services, many community banks, commercial banks, and credit unions also offer business services.  Competing for commercial business is challenging, but as consumers and small businesses move towards mobile solutions, even smaller financial institutions have a unique opportunity to win new business relationships.

Specifically, banks and credit unions able to deliver mobile commerce solutions can expand their revenue opportunities and business relationships at minimal cost, while simultaneously expanding their brand benefits to include a new offering in secure on-the-go business payments.

mCommerce Channels

Mobile commerce, or mCommerce, spans several channels including mobile payments via mobile points of sale (mPOS), and those business operations performed on-the-go, such as digital invoicing and receipts.  Example users would be service professionals working at customers’ homes or worksites without payment terminals, or mobile merchants selling products and services away from fixed storefront locations.

Mobile platforms also provide a face-to-face opportunity to capture and create subscription services on-the-fly via recurring billing—a hugely valuable feature for direct sellers and membership-based businesses such as sports teams, coaches/instructors, wine clubs, gyms and yoga studios, etc.

mPOS hardware includes smartphones, tablets, and wireless devices which serve the function of traditional cash registers or POS systems.  mPOS solutions provide the ability to accept payments on a sophisticated system from the counter, around the store (line-busting), or in the field.  These systems are ideal for mobile merchants, merchants with limited space, and any business looking to improve their customer experience and streamline the sales process.

Digital invoicing, related to mPOS, is the ability to generate and send a customer invoice from a mobile device.  Such invoices are typically sent via email or SMS (text) message, and allow customers receiving the invoices on the computers or smartphones or other mobile devices to readily pay via payment card.  Digital invoicing is a huge boon to service professionals and those small businesses needing to take payments from the field, from the road, or away from traditional storefront operations.

Your Brand, Our R&D

Providing merchants with a branded, robust mCommerce platform can be a competitive differentiator for banks and credit unions offering business services.  But the idea of building a mature, secure solution set and supporting it is understandably daunting—and certainly cost-prohibitive.

Benefits of mPOS include:

• Faster checkout times and shorter lines
• Improved customer service by accommodating the sales process beyond the check-out lines
• Ability to enable sales throughout store
• Real-time price and inventory information
• Variety of receipt delivery options
• Increase customer database
• Ability to sell in mobile locations (i.e. pop-ups, street markets, trade shows, etc.)

Apriva answers these concerns by offering our mCommerce technology as a white-label solution for banks and credit unions.  Our slogan is Your Vision. Our Technology™, and with our mCommerce solution, we are effectively saying, “Your Brand. Our Research & Development, Maintenance, and Certification Success.”

Apriva’s mPOS Merchant Studio package delivers:

• PCI-compliant mobile payments via EMV, MSR, even contactless options
• Subscription/recurring billing
• Digital invoices
• Real-time price and inventory information
• Secure mail-order and telephone-order transactions via Virtual terminal
• And more.

With Apriva, you can propagate your financial institution’s brand to businesses and merchants—delivering a secure, mature, and robust mPOS solution competitive with much larger financial institutions.  And by partnering with Apriva to deliver your branded version of our mCommerce platform, your bank or credit union can win new business relationships at minimal cost, while providing a timely and exciting new offering in secure business payments.  Visit our white-label mPOS page to learn more.

By Benjamin Hurley, Senior Director of Mobile Product Management