PayMate has launched the PayPOS application, which allows 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. The application has no setup fee, rentals, variable fees or minimum transaction threshold.
Anyone with a Smartphone can sign up with PayPOS and begin transactions immediately. To charge, the merchant just needs to enter the 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. The application has already seen over 25,000 downloads.
“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 unorganised retail sector will benefit tremendously from the services of this application”, said Ajay Adiseshann, Founder and Managing Director, PayMate.