Verdict: myPOS to offer faster transactions

myPOS, FPS team up to facilitate faster transactions

Card payments provider myPOS Europe to offer Faster Payments to its customers.

Merchants using myPOS service will be able to send and receive GBP Payments almost instantly. The service can be availed round the clock.

myPOS offers immediate pay-out to merchants’ accounts from a received payment via different payment channels.

The company is also a part of the SEPA Instant Payment scheme, which enables pan-European fund transfers within ten seconds across 34 markets.

Through the latest collaboration, myPOS is set to enable instantaneous payments and minimise payment times for its UK clients as well as those dealing with partners and suppliers in the UK.

In addition to real-time transaction processing, myPOS portfolio also includes free e-money account, business Visa debit card, online banking, portable payment devices and an AppMarket platform.

Meanwhile, FPS is a UK-based not-for-profit organisation, which works to make mobile, internet, telephone and standing order payments move quickly and securely.

The company currently partners with more than 400 financial institutions to deliver its service to over 52 million current account holders in the UK.

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