Swish the mobile Point-of-Sale provider, and Systex, Taiwan's number one IT service provider, have partnered to bring a chip and swipe mobile point-of-sale solution to Taiwanese (merchants), large and small.
In a deal signed last week, SYSTEX will be Swish's technical and customer service support arm for the entire Taiwanese market, leveraging SYSTEX's exceptional technical service delivery for technology in Taiwan.
Swish provides a complete solution, from the app, card reader, payment server, encryption, fraud screening, merchant portal and acquirer portal. Cardholders simply swipe or insert their credit card into the card reader device and sign on-screen to verify the payment. Services include payment processing, electronic receipts via SMS or email and a merchant portal for users to log-in to view complete transaction history and details.
Swish is supported by both Visa and MasterCard, and is one of the few mPOS providers that has both EMV Level 1 and Level 2 certification, as well as CE, ROHS and Apple MFI certifications. All credit card information is encrypted in the credit card reader device and securely transmitted through the smartphone. The phone does not store any information as it is used as a transmitter to process the transaction.
"mPOS has traditionally benefited SME's because there are no monthly fees, a low set-up cost, great flexibility, and a quick registration process, it is now a very viable solution for larger enterprises as well" stated Steven Murray, CEO Swish. "We're pleased also that both Android and iOS will be compatible and supported with us."
Francis Ben, VP of SYSTEX, stated "Combining a wealth of experience in the payment industry and technical support, SYSTEX is committed to helping our banks clientele implement mPOS solutions. We believe the low cost and flexibility of mPOS will benefit not only our banking customers, but also card holders and merchant stores as well. It's a win-win solution."
Benefits for banks include a highly customizable application, secure and safe transactions (Swish is certified with both EMV Level 1 and Level 2).
Both white-label and PSP solutions will be available with Swish.
SYSTEX will be utilizing its strong distribution channels and experience in under-taking large scale projects to bring the solution to market.