Indonesian mPOS Moka receives seed funding

Wednesday 24 September 2014 10:56 CET | News

Indonesia-based mobile point-of-sale (mPOS) startup Moka has received seed funding of an undisclosed amount from local venture capital firm East Ventures.

Moka’s mPOS solution enables vendors to accept payments and create transaction reports via an iPad. With Moka, vendors need to download the app on their iPad, sign-up, and start using the service. The service is cloud-based.

Currently, Moka is in closed beta and therefore has no registered users. Company says it will have its first pilot users in a few weeks’ time. Moka monetizes via its own monthly subscription fees, offering three plans depending on the number of items the users choose. It also has a merchant discount rate arrangement with local banks. The model allows Moka to take a cut of each sale if it acquires the merchant on behalf of a partnering bank.

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Keywords: Indonesia, mPOS, Moka, seed funding, mobile point of sale, payments
Categories: Payments & Commerce
Countries: World
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