Executive Summary

A listed financial services company in Mauritius encountered significant operational inefficiencies due to outdated systems and manual processes, resulting in delays in merchant onboarding, challenges in processing loan applications and merchant operations like settlement, commissions, etc. By implementing M2P's Merchant Management System for BNPL and Consumer Finance offerings, along with a suite of integrated solutions (Loan Management System, Loan Origination System, and Reconciliation), the client was able to achieve operational efficiency, streamline processes, and scale rapidly. These improvements enabled the client to expand into new markets, including Africa, while optimizing their consumer durable loan operations.

About the Client

The client is a leading non-banking financial institution (NBFI) in Mauritius with over 1,000 employees, serving individuals, SMEs, and corporates across multiple geographies, including recent expansions into Africa.

Core Offerings

• Consumer Credit (Consumer durable loans, Personal Loans, Revolving Credit)
• Leasing
• Cards and Payments
• Insurance Factoring
• SME Financing

Operational Scale:

• Partnerships with 2K+ merchants across retail, automotive, and electronics sectors in Mauritius for consumer durable loans, leasing, and payments.
• Loan disbursements ranging from 5k – 100k MUR with a total portfolio exceeding 20 bn+ MUR.

Challenges Faced

• Limited Scalability and inefficiencies –Legacy systems hindered growth and operational efficiency.
• Manual Processes & Delays- Manual onboarding, payment processes, settlements –required excessive manual intervention leading to errors and inefficiencies.
• Complex Merchant Hierarchies –Managing multi-level merchant structures and access control was challenging.
• Reconciliation gaps – Disputes and settlement delays due to inconsistencies in financial reporting.

Solution Provided by M2P’s Merchant Management System

M2P implemented its Merchant Management System (MMS) with an array of advanced features to address the client's challenges and ensure seamless operations:

1. Merchant Onboarding
   • Support for multi-level hierarchies to onboard merchants and sub-merchants efficiently, enabling structured processes.
   • User access management designed for diverse roles and permissions across operational and merchant dashboards.
   • DIY merchant onboarding portal for seamless self-service.
2. Payments and Transactions
   • Integration of QR code payments (static and dynamic) payment links, and online merchant payments.
   • Real-time processing of payments and refunds, with settlement files generated for seamless reconciliation.
   • Comprehensive dispute management tools to resolve merchant issues effectively.
3. Automated Settlement and Invoice Management
   • Fully automated settlement cycles for timely payouts with minimal manual intervention.
   • Transparent invoice generation for merchants with detailed transaction reporting.
4. EMI Plans and Promotions
   • Customizable EMI Plans enabled both platform-level standardization and merchant-specific EMI customization, with support for dynamic downpayments.
   • Seamless promotion setup allowed merchants to effortlessly configure discounts and offers, including delayed repayment, advance EMI, and interest-free EMI options.
5. Merchant Dashboard and Reporting
   • Intuitive dashboards for real-time visibility of transactions, settlements, and disputes.
   • Advanced reporting for performance analysis, promotion management, and payment trend tracking.
6. Reconciliation and Reporting
   • Comprehensive Accounting Module with manual journal entries with an intuitive interface for easy interpretation.
   • End-to-end reconciliation tools to minimize errors and disputes while ensuring regulatory compliance.
   • Simplified workflows for tracking payment statuses and addressing reconciliation gaps.

Results and Impact

• 90% faster merchant onboarding. 60% reduction in operational efficiency, improved merchant satisfaction, and retention rates.
• Operational efficiencies (e.g., reduction in manual errors or time spent on reconciliation, automated settlements with different types of commissions deducted at source).
• Increased merchant satisfaction and retention.
• Opened new line of business in Buy Now Pay later category targeting customers in the age group of 18 to 30

Testimonial

" The platform is highly user-friendly, making it a pleasure to use. Its extensive customization options and intuitive UI enhance the experience. For us, the streamlining of merchant onboarding has had a significant impact on sales operations. The platform offers a comprehensive suite of features, including an integrated accounting module that has greatly reduced reconciliation efforts. With everything now consolidated on a single platform, the process is far more efficient, delivering a significantly improved experience."

– Head, Merchant acquiring vertical

Future Plans

As the next steps, the client is now working with M2P to implement

• Cards acquiring solutions for client’s merchants in Mauritius.
• SME Loans to enhance financial access for small businesses.

Conclusion

M2P's Merchant Management System (MMS) transformed the client’s operations by eliminating manual inefficiencies, improving merchant satisfaction and enabling seamless scalability into new markets like Africa. Key benefits included

Faster and more structured merchant onboarding,

Transparent and automated settlements,

Expansion into new age ECOM merchants, and

End-to-end reconciliation, positioning the client as a leader in BNPL and Consumer Finance.

Want to know more about M2P's Merchant Management System? - Click Here

Ready to Transform Your Merchant Experience and see how we can help scale your business?

Connect with us today.