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2012-05-09

PayMate launches PayPOS, a smartphone app for card payments

PayMate, country’s leading mobile payment company has launched PayPOS, first of its kind smartphone application that allow small businesses to accept and process electronic transactions using credit and debit cards directly on their mobile phones at the p

PayMate, country’s leading mobile payment company has launched PayPOS, first of its kind smartphone application that allow small businesses to accept and process electronic transactions using credit and debit cards directly on their mobile phones at the point of sale (POS) itself. In the market for more than a month, the application has no setup fee, rentals, variable fees or minimum transaction threshold.

Commenting on its usability, Ajay Adiseshann, founder and managing director of PayMate said, “With PayPOS, transactions-on-the-move will be a suitable option for small businesses with smartphones, especially those who need mobility. Businesses in the unorganized retail sector will benefit tremendously from the services of this application.”

PayPOS only requires a sign up to use. The merchant just needs to enter the mobile number and the amount on the screen followed by the customer’s card details and a secure password. The transaction is then processed in real time.

The application has already seen over 25,000 downloads. Charging customers’ cards on the move would help settle transactions immediately and also keeping the track of sales in the app itself. The transaction history and other reports would be accessible online too at a merchant center providing all sale related information.

“According to the latest research, there were 21 million smartphones in India as of January 2012 and the numbers are going to increase manifold in the next few years. This is an indicator of the potential of the application and more that PayMate has to offer,” Adiseshann added.

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