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Mobile Payments

PayStand launches mPOS app for credit card, cheque, bitcoin payments

Thursday 26 March 2015 | 12:22 PM CET

PayStand, a payment platform, has launched a mobile point-of-sale (mPOS) solution in the US to enable credit card, cheque and bitcoin payments.

Following the launch, merchants on the PayStand platform are able to accept payments on their iPhones at brick-and-mortar locations and out in the field. The PayStand mobile app is a being provided as an extension of its Payments-as-a-Service platform to provide online checkout and payments for a flat monthly subscription instead of a complex fee structure.

The PayStand mobile app enables credit card payments via a card reader that fits in the audio jack of the iPhone. Merchants can swipe customers’ Visa, MasterCard or American Express cards, or provide one of the app’s alternative payment methods. To process a check payment, the merchant takes a photo of the paper cheque, directly debiting the consumer’s bank account without any trips to the bank. To accept bitcoin, the app displays a unique QR code which the consumer scans to pay with the funds routed to the merchant’s bitcoin wallet.

The app is currently available on the App Store and the PayStand card reader is shipped on request. Merchants must first create a PayStand account on their website to accept payments with the app.

PayStand enables small and local businesses to convert their social relationships into commerce and payments.

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