Phos, the fintech behind the leading software-only point-of-sale system (SoftPoS), has teamed up with fully integrated payment solution and infrastructure provider Paynt, to launch a white-label SoftPoS app for consumers. payment service resellers.
The new app allows merchants to turn any NFC-enabled Android device, such as a smartphone or tablet, into a contactless payment terminal. The solution solves key issues for resellers, improving merchant acquisition and day-to-day management by automating the onboarding process and merchant account setup. It also provides real-time data and customizable reports that can be accessed through an API or viewed in a web interface.
Phos and Paynt have combined their best technologies, resources and expertise to deliver this customizable and innovative white label solution for third-party payment gateways and independent sales organizations.
In doing so, they aim to help SMEs, sole traders and specialist traders. Importantly, the new solution removes expensive hardware costs for SMBs as the industry continues to recover from the impacts of COVID-19, allowing merchants to use the mobile devices they already own – rather than investing in new ones. expensive physical terminals.
Sam Kohli, CEO of Paynt, said, “SoftPoS revolutionizes the Card Present experience and simplifies how SMB-sized merchants can get paid for their products and services. The white label solution we have brought to market is a response to the ever-increasing demand to make payment acceptance more accessible and cost effective. Being very technology-focused, we were delighted to work with a like-minded company to phos to bring this product to life, which puts us at the forefront of innovation in payments.
Brad Hyett, CEO of phos, added, “We are proud to partner with Paynt to truly transform the way reseller segments work with merchants of all shapes and sizes. Our new app enables payment service resellers to deliver a revolutionary solution for this historically underserved audience, completely out of the box. By eliminating the complicated, costly and time-consuming application development and certification process, resellers can expand their offering and begin delivering the new solution, at scale, almost immediately.
The collaboration with Paynt is the latest in a series of partnerships for phos around the world, including collaborations with UK-based payment solutions provider UTP, cashless fundraising company Givestar and AZUL – which is part of Grupo Popular – in the Dominican Republic.