Software Point of Sale
How Paynetics adds value:
cost-efficient card acceptance for all micro merchants
Paynetics, in partnership with phos, has created an innovative payment acceptance solution which turns any NFC-enabled Android smartphone into a Point of Sale (POS) terminal. Merchants in every sector can download this Software Point of Sale system on any NFC-enabled Android mobile, and start accepting payments almost immediately, creating a checkout experience that is as convenient, seamless and intuitive. Merchants can accept payments from contactless cards, mobile wallets, wearables. And, because this is Software Point of Sale, all this can be done with no additional devices, separate dongles or other hardware. Software Point of Sale allows merchants to start taking contactless payments immediately.
No additional hardware - merchants use the technology they already have
Frictionless onboarding process and intuitive mobile app interface
Fast settlement and instant access to funds with our Business Card
some of our clients
How does Software Point of Sale work?
Our main goal is to get Software Point of Sale into the hands of the businesses that could benefit from it most, to tap into the possibility of a simpler, smarter and cost-effective solution to accept contactless payments.
We have built flexible business models - we give you the freedom to choose to use your own onboarding portal and connect to Paynetics via API or to use our white-label web-based onboarding portal and dashboard. The sign up process for merchants is straight forward and the Software Point of Sale can be activated within minutes.
With Paynetics as a partner, Software Point of Sale can be the gateway to opening up a whole new set of additional benefits to increase customer loyalty, improve cash-flow and time to settlement - fast settlement of the processed payments, instant access to funds via Paynetics Business Cards and various value-added services like loyalty programs, alternative payment methods are all enabled once your business is using Software Point of Sale.
The role Paynetics plays in delivering Software Point of Sale
We are supporting partners by lowering the hurdles, reducing costs and shortening the go-to-market time in order to offer a Software Point of Sale solution for acceptance of contactless payments to their merchants. By choosing Paynetics you will benefit from:
- Certified solution for acceptance of contactless payments with the most popular brands - VISA and Mastercard
- Regulatory compliance with all existing payment regulations within the EU and UK
- Frictionless KYC procedures in line with existing AML requirements
- Transaction processing and settlement options in multiple currencies
- Instant clearing and fast settlement of funds
- Issuance of Business Card to merchants for instant and easy access to funds
- Terminal and user management system for you and your clients in real time
- Alternative payment methods such as Alipay and WeChat
- Risk and compliance transaction monitoring system
By simplifying the process, Paynetics gives the freedom to partners to concentrate their efforts on reaching out to millions of micro-merchants and SMEs and offer an innovative and cost-effective card acceptance solution which meets their needs.
Contactless payment is the new norm
For businesses, no matter how big or small, their customers expect the ability to pay the way they want. Payment choice is now fundamental, and to date this has been a challenge for micro businesses. Even before the advent of COVID-19, there has been a lot of research, data and experience that point to one inevitable fact: there will be a time soon when cash would be a thing of the past. We will soon live in a cashless society.
Customers are increasingly demanding contactless payment options because of the convenience they offer, as well as the hygiene concerns around handling cash.
Merchants who have traditionally accepted cash payments, now have a simpler and more secure way to manage transactions. Software Point of Sale addresses the needs of small businesses, especially during these challenging times of COVID-19 by bringing an affordable face-to-face payments solution and eliminates the need to invest in a POS device.
Software Point of Sale – not just a fancy app
Innovations like Software Point of Sale that reduce the cost of accepting cashless payments can bring in an estimated of 15 million additional merchants into the ecosystem in the next few years, including the small- and medium-sized businesses that drive the economy. By including the Software Point of Sale in their portfolio our partners can enjoy the benefits of:
- Attracting new clients - claim part of the millions of unserved merchants who only currently accept cash payment
- Reducing the total cost of ownership of hardware POS infrastructure
- Generating new lending opportunities with better risk and cash management control
- Tapping into new revenue streams by monetizing additional value-added services which can be offered with the mobile app
- Taking advantage of new channel for cross sales
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