Barely a day seems to goes by without the launch of another mobile payment solution – today’s comes from Mahindra Comviva.
payPLUS, powered by the firm’s mobiquity platform, enables retail businesses and service professionals, to convert their mobile phone into a Point-of-Sale (POS) device that can accept cards anywhere, anytime, via an app and mini-card reader.
The platform allows customization or integration with merchant systems, and can accept credit/debit cards on the go. It also offers customizable cash register capabilities to support POS, billing and reconciliation-related activities, and comes with merchant self-care and support options.
According to the 2012 World Payments Report from Capgemini, RBS and Efma, non-cash transactions globally amount to $283bn (£184bn). Credit and debit cards are the biggest driver of these non-cash payments.
“We have built this solution for retail chains, insurance sector, supermarkets, restaurants and any business that has mobility as a driver for retail sales,” said Srinivas Nidugondi, head of mobile financial solutions at Mahindra Comviva. “With the growth of cashless transactions globally, this solution would (sic) contribute in accelerating the shift towards cashless economy.”