INSTO offers a mobile payment ecosystem that turns smartphones into point-of-sale devices for in-person transactions and integrates payment processing into digital platforms via an API. The service enables businesses and individuals to accept credit card payments anywhere, with an option to offer customers installment payment plans.
Funding
Funding not disclosed
Founders
Product
Problem
Businesses and individuals often face limitations with traditional payment processing hardware, requiring dedicated devices and incurring recurring rental fees. This setup can restrict the ability to accept payments flexibly across various locations or integrate payment acceptance seamlessly into digital platforms.
Solution
INSTO provides a mobile payment ecosystem that transforms smartphones into point-of-sale devices, enabling users to accept credit card payments anywhere. The core offering, INSTO Tap, allows businesses and individuals to process transactions directly from their mobile devices without the need for separate hardware. For digital integration, INSTO offers an API that facilitates the incorporation of payment processing capabilities into websites and applications, streamlining the customer checkout experience. Additionally, INSTO Credit provides an option for sellers to offer installment payment plans to their customers, enhancing purchasing flexibility.
Target Audience
The primary target audience includes small to medium-sized businesses, freelancers, and individual sellers who require a flexible and cost-effective solution for accepting credit card payments, both in-person and online.
Features
- INSTO Tap: Mobile application that enables smartphones to function as credit card terminals for in-person transactions.
- INSTO API: Software development kit for integrating payment processing into websites and mobile applications.
- INSTO Credit: Feature allowing sellers to offer cardless installment payment plans to customers, with sellers receiving full payment upfront.
- Secure payment processing compliant with industry standards.
- Mobile application for both iOS and Android platforms.