FinTech phos and Stanchion team up to boost contactless digital payment ecosystem

By Megha Bhattacharya

FinTech phos and Stanchion Payment Solution today 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.

Deon van Biljon, group product director at Stanchion, said, “We’re seeing a rising demand among merchants for contactless payments as consumers increasingly demand frictionless, cashless and cardless options for everyday transactions. We are delighted to partner with phos to deliver a simple and flexible software POS and contactless payments solution – in line with our strategy to help banks and payments processing companies to accelerate time to market with digital payments innovations.”

According to the companies, the partnership will support businesses across Europe. Through Stanchion’s existing relationships with banks and payments institutions across the region, hundreds of thousands of European merchants will be able to take advantage of the phos SoftPOS solution, either in the application form or as an SDK.

Merchants can download phos from the Google Play store and enable all of their Android devices to accept payments from contactless cards or other NFC-enabled devices such as smartphones, smartwatches or wristbands. Additional payment options will be added to the solution in the coming months, including Pin-On-Mobile.

Brad Hyett, CEO of phos, added, “Our partnership with Stanchion brings next-gen payment technology to payments companies and banks that wish to grow their merchant base and increase retention. It offers them a simple solution for contactless payments acceptance that can easily be deployed at scale as part of their wider digital payments framework. We look forward to collaborating closely with Stanchion to exceed merchants’ and payment processors’ expectations when it comes to innovative and engaging payments experiences.”

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