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phos, maxaa partner to deliver bundled payments to Nordic, Baltic retailers

By Sunniva Kolostyak

March 23, 2021

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phos, the company behind the first-ever software-only Point of Sale (SoftPoS), has joined forces with Nordic FinTech maxaa to deliver a complete and affordable digital payments solution to merchants across the Nordic and Baltic regions.

Brad Hyett, CEO of phos
Brad Hyett, CEO of phos

maxaa, a provider of retail IT solutions for small, medium and micro-merchants, will white label the phos SoftPoS as maxaa.pos, completing its ecosystem of digital solutions. This includes online inventory, a digital cash register and loyalty services.

With consumers increasingly turning to contactless payments, retailers need a way of addressing this growing demand. But traditional PoS solutions require additional hardware, come with long settlement times, or charge the merchants high fees. According to data from phos, more than 33 million businesses across Europe are still reliant on cash, with barriers and concerns including hidden costs, hardware requirements and security issues.

Commenting on the partnership, Leila Bula, co-founder at maxaa, said: “Our ambition is to offer retailers a one-stop-shop to help any merchant, no matter the size, completely digitise their operations. Consumers expect the same intuitive shopping experience whether they’re online, in the supermarket or in an independent shop. By white-labelling phos’ SoftPoS technology, we are giving our retailers access to a secure, digital payment solution, without major investment in expensive systems and devices.”

The phos solution will provide a safe and sustainable alternative to cash and allow merchants to digitalise effectively, offer more payment options to their customers and ultimately grow their businesses.

It works across a range of devices and is android agnostic, as well as being cheaper and simpler to use than alternative systems. This means that merchants can download the service quickly using existing phones and tablets, negating the need for expensive hardware.

Retailers will also benefit from phos’ comprehensive knowledge of the payments industry’s regulation, compliance and schemes, including the Payment Card Industry Data Security Standard, offering them critical protection and security.

Brad Hyett, CEO of phos, added: “We want to help retailers transform their business rapidly. Consumer behaviours are changing quicker than ever before, and merchants need to keep pace with these changes. With maxaa’s retail ecosystem, merchants can quickly deploy the new services that are critical to customer retention, offering their audiences a variety of ways to pay and protecting revenue while improving the overall buying experience.”

Once registered and accepted, merchants can download from the Google Play store to enable all of their Android devices to accept payments from both contactless cards and other NFC-enabled devices, such as smartphones, smartwatches or wristbands.

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