Moroku’s distribution deal aimed at small merchants overlooked by banks
As fintech niches like lending and payments rapidly become commoditised, the addition of value-added services is a prerequisite for survival.
Local fintech Moroku’s distribution deal for its advanced point-of-sale software Marrakash is the latest example.
Marrakash’s value for AEVI, a subsidiary of the world’s biggest ATM and POS supplier Diebold Nixdorf of Germany, is not so much vanilla payments as the software’s ability to integrate business, products, customers and payments systems into a single platform.
It enables small to medium-sized businesses in the food and hospitality, retail and financial services industries to display a full product catalogue, create customer loyalty schemes and take secure card payments on the go.
The app, which is priced between $1 and $13 per month per merchant, can be downloaded from AEVI’s digital marketplace to a business’s smartPOS terminal.
This follows the path blazed by other global technology companies.
Like Apple with its iPhone, AEVI is building a digital marketplace around its devices, only in this case it’s a range of smartPOS terminals.
Moroku founder Colin Weir reckons the banking industry provides poor service to SMEs.
Typically, they’re lumped into the retail bucket and left there, mainly due to higher transaction costs, perceived risk and a lack of bank expertise in evaluating SME loans.
That’s despite the segment contributing significantly to innovation and economic and employment growth.
It’s an area that fintechs are increasingly targeting.
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Source: Moroku’s distribution deal aimed at small merchants overlooked by banks – The Australian