RIYADH, 5 October - The Saudi American Bank has become the first bank in Middle East to launch the Field Point of Sale Service, which uses mobile telephone technology (GSM) to carry out sale transactions and process payment through the Saudi Payment Network (SPAN).
Describing it as "innovative", Ibrahim Abu Moti, Samba's marketing manager, told Arab News that the idea is to simplify the cash collection process for a large number of service companies offering delivery services to their clients. These include couriers, restaurants, rent-a-car firms and catering companies.
Unlike the cashier-mounted point of sale, which requires that both the sale and the payment be carried out at the seller's counter, Abu Moti said the new service allows users to undertake sales transactions and collect cash at the consumer's location anywhere.
"With this unique feature, the new point of sale is expected to attract more customer segments and significantly increase SPAN usage," he said.
The service, which went live with the first transactions for the Saeed Basamh & Mohammed Shurrab Trading Company, is said to have been well received by other Samba customers.
He said Samba was bringing this innovation to the market shortly after launching the Kingdom's first web-based corporate banking product, "Samba Access", in May this year. This front end, along with Samba's automated systems, enables customers to make cash management and trade transactions online in a secure environment.