Berhan Bank has taken a step in availing cashless services following the launch of a mobile POS (m-POS) service in collaboration with Santim Pay last week. An m-POS is a smartphone or tablet that can perform the tasks of a cash register or a traditional POS machine wirelessly. Santim Pay developed the system in six months and it is interoperable with the ATMs of any of the commercial banks. Santim Pay is one among dozens who rushed to attain a payment operators license after the central bank issued a directive permitting private companies to join the sector in 2020. Berhan Bank recorded a net profit of 551.6 million Br over the last fiscal year while its paid-up capital increased to just under 2.5 billion Br.
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