Phos partners with Paynt to introduce SoftPoS solution for payment service resellers
By Joy Dumasia
Phos, the FinTech behind the leading software-only Point of Sale system (SoftPoS), has partnered with a fully integrated payment solution and infrastructure provider, Paynt, to launch a white label SoftPoS app for payment service resellers.
The new app enables merchants to turn any NFC-enabled Android device, such as a smartphone or tablet, into a contactless payments terminal. The solution solves key issues for resellers, improving merchant acquiring and day-to-day management by automating the onboarding process and merchant account setup. It also provides real-time data and customisable reporting that can be accessed via API or viewed in a web-based interface.
Brad Hyett, CEO of phos, added: “We’re proud to be partnering with Paynt to truly transform the way reseller segments work with merchants of all shapes and sizes. Our new app enables payment service resellers to deliver a game-changing solution for this historically underserved audience, completely off the shelf. By removing the complicated, expensive and time-consuming app development and certification process, resellers can expand their offering and start delivering the new solution, at scale, almost immediately.”
Phos and Paynt have combined their best tech, resources and expertise to deliver this customisable and innovative white-label solution for third-party payment gateways and independent sales organisations.
In doing so, they aim to help SMEs, sole traders, and specialist merchants. Critically, the new solution removes expensive hardware costs for SMEs as the sector continues to recover from the impacts of COVID-19, enabling merchants to make use of the mobile devices they already have rather than investing in costly physical terminals.
Sam Kohli, CEO of Paynt, said: “SoftPoS is revolutionising the Card Present experience and simplifying how SME-sized merchants can get paid for their products and services. The white-label solution we have brought to market is a response to the ever-increasing demand to make accepting payments more accessible and cost-efficient. Being highly tech-focused, we were delighted to work with a like-minded company in phos to bring this product to life, which puts us at the forefront of innovation in the payments space.”
Recently, IBS Intelligence reported that Phos, the FinTech behind the leading Software-only Point of Sale (POS) system, has achieved CPoC accreditation from the Payment Card Industry Security Standards Council (PCI SSC).
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