According to the press release, Phos and Stanchion will collaborate to help banks and payments companies empower merchants to meet customers’ demands for a wide range of secure payment options, including contactless payments straight from a mobile device.
Additionally, Phos brings its SoftPoS technology, which enables simple contactless payment acceptance for any merchant with an NFC-enabled Android device. Besides, the technology is cheaper than alternative payment solutions, which often require additional hardware or come with long settlement times or high fees. The partnership will support businesses in countries across Europe, including the UK, Poland, Romania, France, Italy, Spain, and Portugal as they reopen and recover from the effects of the COVID-19 pandemic.
Furthermore, upon registering and once accepted, 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 of 2020, including Pin-On-Mobile.
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