PayMate launches PayPOS App that turns your phone into credit card processing terminal

Wireless transactions platform provider, PayMate has launched PayPOS app that allows businesses to accept and process electronic transactions using credit and debit cards directly on their mobile phones at the point of sale (POS) itself.

The app enables anyone with a Smartphone to sign up with PayPOS and begin transactions immediately. To charge, the merchant just needs to enter the customer’s mobile number and the amount on the screen. The customer then enters the card details and the secure password. The transaction is then processed in real time.paypos

“Charging customers’ cards on the move can help settle transactions immediately and also have sales logged and tracked in the application. Merchants also have access to data such as transaction history and other reports on their mobile device as well as online on a merchant center making all sale related information available at his fingertips.

With the PayPOS first of its kind application launched in India for smartphones, 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.” [PayMate Founder and Managing Director, Ajay Adiseshann]

Another important feature is that this allows for a customer sitting at a remote location asking for a product or service delivery, make payment at the time of delivery.

PayPOS: How it works

Once registered as a merchant, you will be provided a Merchant ID (MID) and a Device ID (DID) that will enable you to use your mobile phone as a POS device and have your Merchant name show in the customer’s card statement. To charge a customer, simply enter his/ her 10-digit mobile number and amount to be charged on the screen. The customer then simply enters their credit card details and 3D secure password. Once the customer has entered the details, the transaction will be processed within a few seconds.

The app is free to download (supports Visa and Mastercard credit & debit card payments) and the only fee that will be charged is the regular credit card transaction fee (i.e. 2.95% of the transaction+ tax).

Watch this introductory video

http://www.youtube.com/watch?v=lzz-Iut50HU

A sort of square for India, just that instead of using the card reader, the app relies on manual input.

– App download link.

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