Home World New MIO technology expands payments with or without cards

New MIO technology expands payments with or without cards

Nueva tecnología MIO amplía los pagos con o sin tarjetas

New technology in the financial sector expands the use of interbank transactions at no cost to the user, whether or not he is a customer of a bank or other entity in the system.

MIO, is a payment tool with which you can pay, collect, transfer between accounts, between banks, whether the recipient or the depositor is in the country or abroad, so it also facilitates remittances.

The MIO tool has been in the Dominican market since last June. A client of Merca Santo Domingo or a buyer of Palito de Coco or another item such as strip carpets that are sold on the roads can verify its effectiveness.

You can already pay in the Merca through the application and the most important thing is that the platform not only serves buyers, but sellers have their accounting organized: they know how much they have sold and what the inventory of the Micro sector is, Small and Medium Enterprises (Miymes).

It is an alternative to the need to go to a banking establishment. He is a reader, who with a digital account allows saving, recharging and transactional with all the actors of the financial system has come to revolutionize financial inclusion, since it is not necessary to be a bank customer.

The information was offered in an interview in Listín Diario by Christian Pichardo, executive director, and Maximiliano Barr, commercial director.

“Our mobile card reader is aimed at businesses that carry out face-to-face sales such as cafeterias, grocery stores, beauty salons, restaurants, shops, kiosks, among others,” said its executives, explaining that the platform adapts to any type of interested business. in streamlining your sales.

“With our App, in an easy, simple and secure way, people and businesses will be able to join online and start charging from their cell phone or tablet, accepting means of payment such as credit, debit, prepaid cards, among others, in present or remotely ”they indicated.

According to Christian Pichardo, MIO has all the international security seals of the digital payments industry, such as the endorsement of EMVO, which is the world’s digital payments bank (European Mastercard and Visa Corporation); American Express, and certificationPCI DSS(Payment Card Industry Data Security Standard(Payment Card Industry Data Security Standard),among other.

“We are creating another category for customers,” said Pichardo. By January they will launch the second phase. And the idea will be to contribute to financial inclusion, Barr said. In addition, it is a novel project that will include the facial detection of the cardholder as a means of security and as an important point, the APP does not consume the internet (data), because the data is in the cloud.

MIO executives hope to empower one million people, in three to four years, and 80,000 businesses in less time.

They affirm that this is a different methodology, with a help module, with artificial intelligence that covers three lines: payment, collections and money movements (such as remittances); and microcredits. The latter will be released this month.

Know more

MIO adapts to any type of person or business, occasional users, professional sellers who need to charge for their services or products and companies or large businesses that want to start selling tothroughagile solutions.

Among its benefits, the business will notice an increase in its sales, since customers will be able to pay with cards both in person and remotely.

The MIO reader has a single cost of RD $ 2,990 and businesses pay a commission of up to 4.89% for each transaction. It is so small that it fits in a pocket so the business can be carried anywhere.

For the business there is no monthly rent or hidden costs. The seller can see the sales history on his cell phone, allows him to identify the best-selling products and greater control and visibility of sales.

It also makes it easy to get to know customers by making it easy to save data and their shopping trends.

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