The parties will perform a field trial where the POS will be connected to a banking partner through the Sky and Space (SAS) network.
SAS Pearls constellation mission is expected to have circa 200 autonomous narrowband communication nanosatellites in orbits by 2020, giving equatorial coverage of the Earth.
The company recently completed full capability tests for phone calls, instant message, voice recording and image transfers through its commercial demonstration nano-satellites.
POS is a multi-billion dollar global target market
The deployment of POS device is becoming widespread in Africa with a rate of 450 devices per 100,000 people in some countries.
The field trial is the first step for SAS and Paratus in replacing the current limited and unreliable means of communications with POS devices in remote areas, with new technology.
This agreement follows a binding commercial offtake contract in August 2017 between SAS and Sat-Space Africa, a wholly owned subsidiary of Paratus Group Holdings.
Importantly, this agreement has the potential to open the door for SAS suppling narrow band communication to thousands of POS devices on the Paratus network across Africa.
The parties are also planning to cooperate for further narrow band telecommunication services in other market segments.