SoftPoS (Software Point of Sale) is a groundbreaking technology transforming how merchants accept card payments. SoftPoS allows merchants to process transactions on their smartphones or mobile devices, removing the need for traditional card terminals or additional hardware. This cutting-edge solution offers convenience, flexibility. It also provide cost savings, converting it into an attractive option for businesses of all sizes.
The history of SoftPOS
After the introduction of plastic payment cards, merchants have relied on specialized hardware, which is known as Point of Sale. It is a terminal to accept payments. Initially, manual imprinters were used, followed by electronic authorizations conducted over the phone. The emergence of Point of Sale terminals in 1979 revolutionized the payment process by significantly reducing transaction times.
In recent years, POS terminals have evolved to address merchants’ key challenges. Mobile POS (mPOS) terminals have gained popularity as they connect to mobile devices and utilize them to communicate with card platforms. These portable solutions offer cost savings, eliminating the need for dedicated lines to connect with banks. Another trend in POS terminals is the inclusion of additional functionalities and the ability to run diverse applications, adding value to merchants’ operations.
However, merchants still require separate hardware to accept payment cards in all these cases. It is where software POS, or SoftPoS, sets itself apart. Unlike traditional POS terminals, SoftPoS eliminates the need for additional hardware by allowing merchants to process transactions with their smartphones or other mobile devices. This innovative technology leverages existing mobile devices, streamlining the payment acceptance process and reducing business equipment costs.
With SoftPoS, merchants can enjoy the benefits of a secure and convenient payment solution without the burden of additional hardware. By leveraging the power of software and mobile technology, SoftPoS opens up new possibilities for merchants, enabling them to accept payments anytime, anywhere. Whether in a brick-and-mortar store, at an event, or during remote transactions, SoftPoS provides a flexible and user-friendly payment acceptance solution.
As the demand for mobile payments grows, SoftPoS emerges as a forward-thinking solution that empowers businesses to adapt to changing customer preferences. It offers the flexibility, convenience, and security of evolving needs of modern commerce.
By embracing SoftPoS, merchants can stay ahead of the curve, simplify their operations, and provide a seamless payment experience for their customers. Discover the power of software POS and unlock the potential of your mobile devices. Contact us today to learn more about SoftPoS and how it can transform your business.
How does the software POS revolutionize payment acceptance?
With a software POS solution, merchants can accept payments from contactless cards or mobile wallets like Apple Pay, Android Pay, and Samsung Pay without additional hardware such as POS terminals or mPOS devices. Payments can be conveniently accepted on a smartphone or any NFC-enabled device.
ANY BANK, ANY PHONE
- Software POS solutions, like UniPay, are:
- Typically bank and phone agnostic.
- Allowing compatibility with any bank and acquirer.
- Any NFC-enabled Android phone or device.
This flexibility ensures merchants can choose their preferred banking partners and work with various devices.
MULTIPLE PAYMENT METHODS
Leading software POS solutions, such as UniPay, go beyond card payments and can accept multiple payment methods through various communication channels supported by the phone. For example, by leveraging the phone’s camera, QR-based payments from popular wallets like AliPay, WeChat, phyre, A1, and VivaPay can be easily accepted, expanding the range of payment options for merchants.
Based on the Android OS, SoftPoS solutions like UniPay offer more than just payment acceptance. They provide the opportunity for seamless integration with other business applications, empowering merchants to enhance their operations. UniPay leads the way with innovative features like loyalty and automated marketing solutions, enabling small and medium-sized merchants to leverage advanced loyalty programs without upfront investment. By transforming the phone into a business hub, merchants can streamline operations and unlock new avenues of growth.
BRIDGING THE GAP
Traditional POS solutions have limitations that make them expensive and inefficient for micro, small, and medium-sized merchants. Some merchants resort to accepting only cash, despite the high costs and security risks associated with cash handling. The retail payment infrastructure has remained stagnant for decades, failing to keep up with the digital revolution. SoftPoS technology bridges this gap by leveraging the existing card payment infrastructure and bringing it into the 21st century. By harnessing the power of mobile devices that have become an integral part of our daily lives, SoftPoS transforms the retail payment experience and aligns it with modern consumer expectations.
The market for software POS
The market potential for software POS solutions is substantial. With the rise of contactless and mobile wallet payments, the software POS caters to markets where these payment methods are highly prevalent. It addresses the needs of unserved and underserved merchants seeking a convenient solution for accepting contactless payments. Additionally it provides an alternative to traditional POS terminals. They are used for small and medium-sized enterprises.
Europe alone has approximately 50 million merchants, with around 17 million POS terminals installed. It leaves a significant market of approximately 35 million micro and small merchants who can benefit from adopting software POS solutions. Furthermore, smartphone penetration is nearly universal, reaching almost 100%, and contactless card penetration exceeds 90% in most European markets. These factors create a favorable market opportunity for SoftPoS technology to thrive and reshape the payment landscape.