A mobile payment system that enables retailers to instantly access their funds has launched in the UK.
The myPOS system combines a mobile point of sale terminal with a free online account and prepaid business card, enabling retailers to accept card payments as readily as cash.
The myPOS solution is not built on the banking system, but instead stores payments in a free myPOS e-money account, enabling retailers to either spend received funds immediately via their myPOS Visa card, or to make an online transfer to another account.
Christo Georgiev, myPOS founder, said: “myPOS is a next generation payment system that will enable budding entrepreneurs to position themselves as credible businesses offering convenience to their customers.
“We hope to play an important role in helping those in the gig economy or running seasonal businesses to succeed, while avoiding prohibitive monthly fees, bank charges or cash flow concerns when accepting card payments.”
The solution, which has no monthly payments or subscription fees, comes in four different solutions: myPOS Mini Ice, myPOS Combo, myPOS Mini and myPOS Smart.
To support entering the UK market, myPOS is launching a physical store in Knightsbridge in London, on 8 February.
Featured on: Talking Retail