Telecom Lead India: PayMate India has launched its PayPOS
The enterprise mobile application enables small businesses
to accept and process electronic transactions using credit and debit cards
directly on their mobile phones at the point of sale (POS) itself.
In the market for more than a month, the application has no
setup fee, rentals, variable fees or minimum transaction threshold.
Smartphone users can sign up with PayPOS and start transactions
immediately. To charge, the merchant needs to enter the mobile number and the
amount on the screen. The customer then enters the card details and the secure
password. The transaction is then processed in real time.
The application has seen over 25,000 downloads.
Merchants will have access to data such as transaction
history and other reports on their mobile device as well as online on a
This also enables a customer sitting at a remote location to
ask for a product or service delivery, make payment at the time of delivery.
With the PayPOS first of its kind application launched in
India for smartphones, transactions-on-the-move will be a suitable option for
small businesses with smartphones, especially those who need mobility.
Businesses in the unorganized retail sector will benefit tremendously from the
services of this application,” said PayMate Founder and Managing Director, Ajay
According to the latest research, there were 21 million
smartphones in India as of January 2012 and the numbers are going to increase
manifold in the next few years.