Paymate Launches PayPOS - Card Payment Acceptance Mobile App

PayMate India Pvt. Ltd., the country's leading mobile payments company, have officially launched for the first time in India, the PayPOS application, which allows small businesses to accept and process electronic transactions using credit and debit cards directly on their mobile phones at the point of sale (POS) itself. In the market for more than a month, the application has no setup fee, rentals, variable fees or minimum transaction threshold.

Anyone with a Smartphone can sign up with PayPOS and begin transactions immediately. To charge, the merchant just needs to enter the mobile number and the amount on the screen. The customer then enters the card details and the secure password. The transaction is then processed in real time.

The application has already seen over 25,000 downloads. Many merchants who have signed up use multiple locations to interface with their customers and lose out on sales when customers were not carrying enough cash or cheques for payment. Charging customers' cards on the move can help settle transactions immediately and also have sales logged and tracked in the application. Merchants also have access to data such as transaction history and other reports on their mobile device as well as online on a merchant center making all sale related information available at his fingertips.

Another important feature is that this allows for a customer sitting at a remote location asking for a product or service delivery, make payment at the time of delivery.

“With the PayPOS first of its kind application launched in India for smartphones, transactions-on-the-move will be a suitable option for small businesses with smartphones, especially those who need mobility. Businesses in the unorganized retail sector will benefit tremendously from the services of this application. According to the latest research, there were 21 million smartphones in India as of January 2012 and the numbers are going to increase manifold in the next few years. This is an indicator of the potential of the application and more that Paymate has to offer” said PayMate Founder and Managing Director, Ajay Adiseshann.