MPT Pay Ltd offers a QR payment solution that enables businesses to accept payments without requiring customers to enter credit card details, streamlining transactions across various sectors. Their Dynamic Escrow Payment Protocol facilitates secure B2B financial interactions, connecting EU and non-EU businesses through SEPA and SWIFT networks.
Funding
$2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many businesses, especially smaller merchants and those in developing economies, face challenges in accepting digital payments due to the complexities and costs associated with traditional payment systems. These systems often require specialized hardware, integration with multiple payment networks, and can be vulnerable to fraud.
Solution
MPT Pay provides a QR code-based payment solution designed to streamline digital transactions for businesses. The platform enables merchants to accept payments from customers using a simple QR code scan, eliminating the need for point-of-sale (POS) terminals or manual entry of payment details. MPT Pay's technology supports payments regardless of the issuing bank or country, and it is compatible with mobile payment platforms like Apple Pay and Google Pay, as well as their own PayNgo app. The system also incorporates fraud prevention measures, including augmented reality technologies, to enhance security during transactions. MPT Pay generates electronic receipts that are stored in the application and sent to the buyer's email, providing a convenient record of the transaction.
Target Audience
MPT Pay targets e-commerce businesses, bloggers, retailers, cafes, restaurants, street vendors, taxi services, gamers, and game developers seeking a simple and fast payment solution.
Features
- QR code-based payment acceptance for simplified transactions
- Compatibility with Apple Pay, Google Pay, and the PayNgo app
- Fraud prevention using augmented reality during code scanning
- Electronic receipt generation and storage
- Support for payments across different banks and countries
- API development and integration for custom solutions
- Software development using ReactJS and NodeJS for web applications
- Cloud infrastructure leveraging AWS services (Amazon EC2, Amazon S3, Amazon RDS) for scalability and reliability