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Fintech firm myPOS aims to provide affordable payments solutions to SMEs that might traditionally shy away from accepting card transactions.
The company, headquartered in London, has traditionally offered compact, mobile devices that have proved particularly popular with taxi services and the hotel, restaurant and catering sector. But myPOS has now launched its debut desktop model – the ‘myPOS Hub+’ – revealing the tech at the Money 20/20 expo in Las Vegas, USA.
The myPOS Hub+ operates as a payment terminal and a printer in one and also provides access to services like inventory and cloud-based accounting.
Company founder Christo Georgiev, speaking in Nevada, said: “Until now we have been selling mobile, compact devices that can be used by the merchant on the counter or on the go. The myPOS Hub+, however, moves us in a different direction because it is a countertop payment device which combines payment terminal, cash register and access to other business apps all in one.”
The device runs on an Android operating system, the world’s most popular mobile phone OS with more than 70 per cent of the market share, and comes with two touch screen options – large for the merchant and smaller for the customer. This makes it ideal for the display of marketing messages.
Georgiev adds: “This type of device is sought after in the retail sector, as merchants can manage their inventory, cloud-based accounting, loyalty programs, etc. A dedicated cash register and point of sale (POS) terminal and a printer in one, the myPOS Hub+ can be the perfect solution for hotels, restaurants and retail stores which want to take the customer experience to the next level.”
The myPOS Hub+ is scheduled to be available to customers throughout Europe before the end of the year.
Meanwhile Georgiev says the firm has ambitions to expand to the US markets, too. He adds: “myPOS is one of the fastest growing European payment solutions for SMEs and we are interested in stepping into the US market, eventually. We bring valuable know-how when it comes to real-time settlement and cash flow management, beyond just accepting payments, and we are open for starting new partnerships with US payment platforms or financial institutions.” He adds that Money 2020 will ‘create a fertile ground for future partnerships’.
The fintech firm provides affordable payments solutions to SMEs that might traditionally shy away from accepting card transactions. myPOS says it offers small transaction fees, no monthly or annual charges and cash can be accessed instantly – rather than merchants having to wait up to three days when dealing with traditional banks.
myPOS opened its first-ever retail store in London’s Knightsbridge in February last year and now has similar offerings in Amsterdam, Sofia, Milan, Barcelona, Antwerp and Paris.
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