Technology company TraQiQ has introduced its online payment solution ‘TraQPayments’ in Latin America.

TraQPayments is a mobile POS solution that will enable the users to integrate all potential payment methods into a single centralised system to facilitate payment experience. It also offers SMS invoicing, scan and pay QR code, mobile wallet and Digi-Swipe features.

Merchants can use the solution to accept card and wallet payments on their smartphones.

TraQPayments is also equipped with enhanced security features to ensure transactional safety.

TraQiQ expects that the launch of the solution will boost mobile point-of-sale (mPOS) adoption across the region. According to the company, mPOS turn-around-time is three times faster compared to a traditional POS, a feature that may lead to a widespread acceptance of the solution.

The TraQPayments platform powers payments and cash collections currently offered by Mimo Technologies.

TraQiQ Solutions president Lathika Regunathan said: “TraQPayments allowed Mimo to roll out a complete Payment solution in days. The product easily adapted to Mimo’s processes, facilitate payments, and settle transactions.”

Based in the US, TraQiQ focuses on offering products that are designed to help identify customers as well as facilitate and fulfil transactions.

Several multi-national customers have deployed TraQiQ’s FinTech and Last Mile solutions.

The company has a global presence with offices and customers in Asia, North America, Africa and Latin America.

Earlier this year, Flywire launched its education payments platform in key Latin American countries.