Making payments easier for small businesses

04 May 2022 ... min read Listen

When it comes to running a business, every euro, lira, leu and zloty counts. As consumers increasingly turn to paying by card, it’s not always easy – or cheap – for small businesses like street vendors or taxi drivers to accept those payments.

illustration: using a smartphone as mobile point of sale terminal

ING now offers a solution. Small businesses in Turkey, Romania and Poland can download an app and turn their android device into a ‘point of sale’ (POS) terminal, saving them the hundreds of euros it sometimes costs to buy and run one. The app offers possibilities including contactless payments, digital receipts and a transaction history, making it everything a small business operator needs.

Three countries

ING in Turkey was the first to introduce it in 2019 with what they call ‘ING POS in my pocket’. It’s ideal for smaller grocers, street sellers, bazaar sellers, taxi drivers, home businesses and shops.

We introduced it in Romania in February and it’s been a great success so far. In only six weeks, some 887 merchants have adopted it, completing over 10,000 transactions.

In Poland, we’re the first bank to offer this. We’re launching it under the name eTerminal following a successful friends and family pilot. The onboarding guide is embedded in the app, enabling businesses to easily activate it with their mobile phone.

ING’s global head of Business Banking Luc Truyens said this service is an example of what differentiates ING from other banks and financial institutions as we work hard to meet customer needs by providing great experiences.

“We want to make the lives of our customers easier by helping them to manage and grow their businesses. We are continuously innovating to provide them with disruptive digital solutions,” he said.

ING Business Banking services are available in seven countries for around 1.7 million customers. These customers range from smaller self-employed business owners to larger mid-corporates.

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