PayMate launches PayPOS, India’s first mobile card acceptance solution

The first of its kind in India

PayMate India is launching the PayPOS application which enables small businesses to accept card payments on their mobile smartphone (view press release). The solution is the first of its kind in India, according to PayMate, and has no setup fees, rentals, variable fees or minimum transaction threshold. To process a transaction, the merchant enters the customer’s mobile number and sale amount on the screen, the customer then enters their card details and a secure password and the transaction is processed in real time. The app also allows merchants to log sales data, access transaction history and other reports from their mobile device. The solution has been available in beta for a month and has seen 25,000 downloads so far.

According to the latest research, there were 21 million smartphones in India as of January 2012 and the numbers are going to increase manifold in the next few years. This is an indicator of the potential of the application…,” said PayMate founder and MD, Ajay Adiseshann.

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