Under the terms of the agreement, the collaboration will enable businesses, including small and medium enterprises and service professionals, to use their mobile phone as a Point-of-Sale (POS) device.
The associated card reader connects to the smartphone via Bluetooth, is equipped with a LCD display and tactile response pin pad for PIN entry. It accepts a range of card payments, including all kinds of chip and magnetic stripe cards and is compliant with RBI, EMV and PCI standards.
With the new collaboration, the two companies are set to reach India’s 418 million credit/debit card holders.
For large merchants using mPOS as a complement to fixed POS solutions, prebuilt-connectors facilitate integration with back-end IT systems such as CRM, inventory, billing and loyalty, allowing merchants to manage their business. Merchants with existing consumer-facing applications also have an option to use payPLUS Application Programming Interface (APIs) to embed card acceptance functionality.
In recent news, US mobile commerce platform provider ROAM, a subsidiary of French-based provider of payment services Ingenico, has joined forces with provider of payment solutions First Data, to launch an mPOS solution into the Indian market.
In April 2014, Mahindra Comviva joined GlobalPlatform, the organisation which standardises the management of applications on secure chip technology, as Observer Member.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now