Mastercard and Phos pilot SoftPOS for micro and SME merchants

Mastercard and Phos pilot SoftPOS for micro and SME merchants

Mastercard is partnering with Phos on a four week field trial of a SoftPOS solution that enables merchants to accept contactless payments on Android mobile devices without the need for any additional hardware.

The pilot project will rely on Paynetics, an e-money institution with license across the European Union as the acquiring bank, and will entail tests with approximately 200 merchants from the United Kingdom, Germany, Bulgaria and Romania.

Available via an app-based download to Android handsets, the capability enables merchants to accept contactless transactions without the need for a separate card reader.

Scott Abrahams, SVP of business development and fintech for Mastercard in the UK, says: “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. This solution by phos has been designed to meet the flexibility and cost requirements of small and micro business owners, by leveraging existing technology - their smart phone - to accept convenient and secure contactless payments.”

Visa is currently testing an equivalent technology for Samsung phones with Fiserv and Paycore in Poland.

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