phos and bunq to transform payment acceptance in the retail space

By Megha Bhattacharya

FinTech phos today announced a partnership with Dutch neobank bunq in a bid to transform payment acceptance in the retail space. bunq will be implementing phos’ solution, thus enabling customers to replace the physical POS terminals or cash with a software-based POS.

Neobank bunq stated that it will be offering the new feature to its retail merchant customers across its European markets, including Belgium, France, Germany, Ireland, Italy, the Netherlands, Portugal and Spain.

Brad Hyett, CEO of phos, said, “We’re excited to be working with bunq as we want to transform how retailers accept payments and manage their revenue and cash flow. By equipping businesses with the power of softPOS payment technology, they will be able to grow sales and unlock the full spending potential of their customer base – offering greater flexibility, convenience and more ways to pay.

“We’re confident that businesses trialling the new bunq functionality will reap the benefits of significantly increased returns as we head into the busiest shopping period for retailers and are looking forward to working with the team at bunq to take this solution to the wider reaches of their customer base in the near future.”

phos allows merchants to accept contactless payments on their own mobile devices without the need for additional hardware. Recently, phos and Stanchion Payment Solution announced a partnership for enabling payment processors and banks to speed up their time to market contactless payments acceptance solutions for European merchants. The companies will collaborate to help banks and payments companies meet customers’ demands for a range of secure payment options, including contactless payments straight from a mobile device.

Ali Niknam, CEO of bunq, added, “We want to make sure contactless payments are a breeze in these difficult times. Our goal is to make life easy for bunqers, and this technology brings us a step further.”