Following this collaboration, the companies also will focus on bringing contactless card acceptance to any NFC-enabled device, such as smartphones and tablets. Furthermore, the software point-of-sale solutions will be made available to merchants and traders in Germany, with the aim to expand to other countries from the EU as well.
Finance Incorporated is an electronic money institution that will offer its brands to customers and businesses in order for them to leverage its products. These brands include iPaymix, Paymix Pro, and Paymix VIA, as well as payment tools, card services, and delivering account products.
Phos will be offering its Tap-to-Pay solution, which uses technology that secures transactions through a connection to a mobile device. It was designed to have a user-friendly design, allowing customers to leverage the fast and contactless processing of payments.
This product will give clients and businesses the possibility to increase the number of payment acceptance points that they provide to their users in a quick and efficient way, without the need to buy traditional card readers.
By bringing a Tap-to-Pay service for its customers, Paymix will have the capability to offer an enhanced onboarding experience to its clients, along with new offers for underserved segments of the market, such as female entrepreneurs and non-German companies and business owners.
Furthermore, Paymix will also prioritise the process of maturing the product with value-added tools, in order to strengthen the plan of expanding to additional markets in the EU later in 2023.
Software-based POS solutions provider Phos offers customers, legacy technology providers, companies, and financial institutions the possibility to incorporate and bring Tap-to-Pay services into the market. Its cross-platform technology gives merchants the capability to accept contactless payments directly on a mobile device.
Phos provides flexible solutions to a multitude of acquirers and PSPs. The SoftPOS was created to enable off-the-shelf smartphones and tablets to become payment terminals while being compliant with the market’s standards and requirements for payment security.
In March of 2023, the company was acquired by the paytech firm Ingenico to extend its offerings for trader payment acceptance via smartphone. The strategic purchase of Phos marked an additional step into Ingenico’s plan to improve software-driven tools and products.
Earlier in the same month, Phos integrated QR digital wallets to its Tap-to-Phone service, as a new code-base payment method for retailers. The feature was set to include popular QR digital wallets such as Venmo, CashApp, and PayPal, and to improve the way merchants increase their sales by offering users and clients more possibilities to make their payments and transactions.
In February 2023, the company facilitated Thrive Payments to bring its Tap-to-Phone payment solution to merchants and traders in the US. The deal enabled the payment gateway’s merchant clients to accept card payments directly on any NFC-enabled smartphone or tablet, on the go or in-store.
As Phos continues its plan to expand globally, the company also focuses on increasing the number of certified acquirer connections, in order to meet the needs, preferences, and demands of customers. These additional acquiring certifications are currently in process and are set to be announced this year.
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