Phos, the global leader in software point-of-sale (SoftPoS) orchestration for businesses will now accept QR code-based digital wallets as a payment option for retailers, brands, and businesses.
This will include popular QR digital wallets such as PayPal, Venmo and CashApp, helping merchants increase sales by offering customers more ways to pay.
This offering along with phos’ leading SoftPoS solution enables businesses to accept card payments directly on any NFC-enabled smartphone or tablet, in-store or on the go. This means they can greatly, and rapidly, expand their number of payment acceptance points, without the need to invest in costly additional hardware.
QR payments offer a convenient way for customers to pay, allowing them to simply scan a QR code and approve the payment within their mobile wallet. With digital wallets becoming increasingly popular, many consumers are installing QR code wallet applications on their mobile devices.
A recent study from Juniper Research found that digital wallet users will exceed 4.4 billion globally in 2025. QR code payments are playing a leading role due to their ease of use, and the continued popularity of hands-free payments post-pandemic.
Brad Hyett, CEO of phos, said: “We have aligned our objectives with the ever-changing consumer behaviour towards more flexible payment options. We recognise that customers and businesses alike prefer hands-free methods of payment, and we are excited to see how this new QR offering makes the contactless payment process effortless and seamless over time.
“At phos, we have established ourselves as a leader in the payments orchestration industry with our innovative Tap-to-Phone solution. Our latest product offering is a significant step forward in our mission to bring secure and efficient payments to our customers and partners in new, coherent ways. We are proud to be able to provide this solution and to continue to provide the best possible payment solutions to our customers."
Phos currently has 19 certified acquirer connections, as the fintech continues to expand globally. It plans to increase this number exponentially to satisfy the needs of tier-one providers and requirements across international markets.
This initial delivery will allow phos to expand its reach in the US market and bring its innovative Tap-to-Phone solution to a wider audience.