Mastercard is developing mobile POS solution

Monday 16 March 2020 09:40 CET | News

Mastercard has announced it is working with Bulgaria-based payment solutions provider Paynetics to run a four-week trial of a mobile point-of-sale (mPOS) solution.

The solution allows merchants to accept contactless payments via Android mobile devices without extra hardware. The pilot will run among approximately 200 merchants in Bulgaria, Germany, Romania, and the United Kingdom. Paynetics will serve as the acquiring bank for these transactions, and it appears that its Phos mobile application, which allows Android devices to serve as a POS terminal, will be involved as well. It's unclear if this mPOS solution is different than the one Mastercard was reportedly testing with ING in July 2019.

Their offering is being piloted in Poland, with plans to expand the trial to the Europe, Middle East, and Africa (EMEA) and Asia Pacific (APAC) regions. Mastercard and Paynetics are likely going head-to-head with these firms as they try to recruit small merchants, which may be interested in the solutions because of their potential simplicity and affordability, according to Business Insider.

Mastercard has also introduced a digital inclusion initiative that could help merchants gain access to devices that could be used as mPOS terminals.

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Keywords: MasterCard, Paynetics, mobile point-of-sale, mPOS, mobile PoS, ecommerce, retail payments, digital inclusion, merchants, mPOS terminal, Bulgaria, UK, Romania, Germany, Poland, Europe
Categories: Payments & Commerce
Countries: Eastern Europe, United Kingdom
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Payments & Commerce

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