- softPOS solution set to be brought to Singapore and South East Asia
- No terminals required as part of new system – meaning lower capex costs
- “We believe this is a significant leap forward in terms of providing great convenience to merchants”, says founder
A leading Singapore-based payments and agency banking provider has announced that it will be bringing its revolutionary technology, known as softPOS, to the region.
SmartPesa, which is mobile-first and international-friendly, will make it simpler for new vendors to take card payments.
Customers who use softPOS will now be able to use Apple Pay and Android Pay as well as payPass Contactless debit cards. This comes as the result of a collaboration with major card providers VISA and MasterCard.
The system is fully secure and does not require a terminal, which will result in lower capital expenditure costs for many businesses.
For those looking to transfer money internationally, the new system will also be able to accept international debit cards as well as global-based credit cards – meaning that SmartPesa is likely to begin to rank well in many international money transfer comparison tables.
SmartPesa’s co-founder and CEO, Barry Levett, said that his company’s product takes a “focused, practical approach”.
"We believe this is a significant leap forward in terms of providing great convenience to merchants and providing more places for customers to pay with their existing contactless cards”, he said.
“The industry has been suffering confusion generated by an influx of new e-wallet startups, which may be counter-productive in terms of addressing ongoing payment fragmentation. SoftPOS takes a very focused, practical approach to provide efficient card payment by using just a mobile app.”
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