The agenda of the Central Bank of Nigeria, CBN, cashless policy to encourage electronic-based transactions has been further boosted with the launch of Orangeboxâ„¢ 7210, an advanced and versatile point of sales, POS, system.
The latest technology was an idea ofÂ CitiServe Limited, a member ofÂ the Vigeo group Limited that deals in enterprise solutions and payment services by providingÂ e-business solutions for industries,Â developÂ applications for e-transactions, bill payments and other value-added services. This in turn provides income, facilitates cashless payments via bank cards on the PoS and other touch points.
The OrangeBoxâ„¢ was formally Introduced in 2011 as part of CBNâ€™sÂ cashless roll-outÂ and hasÂ emerged to be aÂ preferred Point of Sale, POS, terminal modeled for the Nigerian environment with its external shell for accidental drop, designed to pick evenÂ weak signals forÂ General Packet Radio Service, GPR, networks such as MTN, Etisalat, Glo, and Airtel.
Improving on the OrangeBoxâ„¢, the new OrangeBoxâ„¢ 7210 box is a high-performance multiple hold terminal which has the capacity to support multiple tasks and applications. According to the company, the initiative stem from the need to strengthen its market base and growing appetite, to bring ease of financial transaction to the public and to pursue its drive asÂ a base for innovative ideas.
The formal launch of the product took place in Lagos and was witnessed by representatives ofÂ commercial banks in Nigeria, Nigerian Interbank Settlement System (NIBSS) and other captains of industry.
Shedding more light on the innovation, Chief Operating Officer of the company, Jubril Salaudeen, stated that the latest was poised to deliver superior value to stakeholders, banks, billers, merchants and the consumers.
â€œThe arrival of Orangebox7210 with its unique features promises to add new and exciting experiences toÂ e-payment operations in the country.â€
The event also witnessed the launch of OrangeBoxâ„¢ Retail platform, a digital distribution platform that creates and delivers value, through the chain to the last mile by providing income opportunities in the sale of e-products via the point-of-sales device.
According to Salaudeen, theÂ platform isÂ not just a PoS, butÂ a merchantÂ as it affordsÂ retailersÂ opportunity to up-sell and make profit.
With over 40,000 OrangeBoxâ„¢ Pan Nigeria, the platform is boosted to afford billers/ product owners a deep and penetrating distribution channel delivering availability, accessibility and more profit. Its expanding products include sales and payment of airtime, Pay/cable TV, power/utility bills (token), lottery, internet, insurance, money transfer, amongst others.