Malaysian insurer TPM launches SmartPesa’s POS devices
Insurance company Tune Protect Malaysia (TPM) has signed up for SmartPesa’s new payment solution.
As part of the managed service with local acquirer AmBank, Singapore-based SmartPesa is deploying its mobile Point of Sale (mPOS) terminals to TPM agents to accept payments, address payment delays and reconciliation challenges.
A total of 690 terminals will be deployed, which combine the meta-data with payment information that is captured in SmartPesa payment gateway.
“A seamless payment process for the agents and better customer experience for the clients. It allows agents to engage and maintain personal relationships while reducing churn risks and payment delays,” says Thorsten Neumann, co-founder and chief technical officer of SmartPesa.
A significant portion of insurance payments are made manually after the closing of a new policy, or on the renewal of existing policy.
SmartPesa’s solution, integrated to the insurance company backend systems (via APIs) to link and manage data, was implemented with the aim to accelerate the payment process “to reduce friction and improve customer experience”.
SmartPesa has deployed its managed Software-as-a-Service (SaaS) for AmBank, which allowed it to accelerate its expansion to areas like insurance, logistics and parking – which are mostly cash-dominated.