Phos is to launch a white label SoftPoS app for payment service resellers through its partnership with payment solution and infrastructure provider Paynt.
Once resold, the off-the-shelf solution will enable small and medium-sized enterprises (SMEs), sole traders and specialist merchants to turn any smartphone or tablet device into a contactless payments terminal.
One of the benefits of this approach is that it requires no additional hardware, enabling merchants to make use of the mobile devices they already have – rather than investing in costly physical terminals.
The solution aims to remedy key issues for resellers, improving merchant acquiring and day-to-day management by automating the onboarding process and merchant account setup.
It will also provide data and customisable reporting capabilities that will be able to be accessed via API or a web-based interface.
Sam Kohli, CEO of Paynt, explains how its latest white-label solution is in response to the rising demand for payment acceptance capabilities, and that the company is “delighted” with its latest partnership with phos, which will bring its new product into fruition.
Phos CEO Brad Hyett added that the new app will allow payment service resellers to deliver a solution for a “historically underserved audience…by removing the complicated, expensive and time-consuming app development and certification process,” identifying how the solution will allow resellers to expand their offering.
The collaboration with Paynt is the latest in a string of partnerships for phos, including collaborations with UK-based payment solution provider UTP, cashless fundraising firm Givestar, and AZUL – part of Grupo Popular – in the Dominican Republic.