Paysafe Group has launched its new mobile point of sale (mPOS) solution Mobile Pay in the US following a trial period.
Leveraging Apriva-developed apps, the mPOS can transform mobile devices into credit and debit card processing terminals.
It connects the payment cards to an AnywhereCommerce-designed Walker BT card reader using Bluetooth, to enable the transaction.
The Mobile Pay card reader is EMV chip- and MSR swipe-enabled and allows flexible card authorisation.
The mPOS also supports conventional payment methods such as cash and cheques as well as other recurring payments including subscriptions.
SMBs can utilise Mobile Pay’s dashboard featuring real-time reporting and analytics. As a result, one can get reports on transactions, inventory, sales taxes, among others.
Additionally, the businesses can save product information in cloud-based inventory.
The launch of the new offering is said to be in response to US SMBs’ increasing demand for adding mobile payment apps.
In this context, Paysafe cited a survey that found 30% of US card-present SMBs interested in integrating mobile apps by the end of 2020.
Paysafe president of payment processing in North America OB Rawls said: “Smart phone and tablet usage in the US has never been higher, which is serving as a catalyst for the strong growth in mobile payments, especially in the SMB space.
“We’re therefore excited to unveil Mobile Pay, an mPOS solution that marks a true step forward in mobile payments through our partnerships with two ‘best in class’ technology companies, Apriva and AnywhereCommerce.”
Paysafe carried out a limited launch of Mobile Pay in the third quarter of this year. Since then, the solution has been adopted by nearly 17,000 SMBs.