Phos provides a software-based point-of-sale (POS) solution that transforms any Android device into a contactless payment terminal, enabling merchants to accept card and digital wallet payments without additional hardware. This technology addresses the need for flexible and cost-effective payment processing in various business environments, enhancing transaction speed and security.
Funding
$129.9K 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
Traditional point-of-sale systems often require specialized hardware, leading to increased costs and reduced flexibility for merchants. This can be a barrier, especially for businesses seeking to quickly adapt to changing market conditions or operate in diverse environments.
Solution
Phos offers a software-based SoftPOS solution that transforms any NFC-enabled Android device into a contactless payment terminal. This eliminates the need for additional hardware, providing a cost-effective and flexible payment processing solution. The platform enables merchants to accept a wide range of payment methods, including contactless cards and digital wallets, enhancing transaction speed and security. Phos also supports enhanced payment methods such as installment payments, QR wallets, and Open Banking, allowing businesses to increase sales and cater to diverse customer preferences.
Target Audience
The primary target audience includes street food retailers, field service providers, transportation services, grocery delivery services, festival and event organizers, coffee shops, and charities, as well as any business looking for flexible and cost-effective payment solutions.
Features
- Turns any NFC-enabled Android device into a contactless payment terminal
- Supports various contactless payment methods, including cards and digital wallets
- Offers options for installment payments, allowing customers to pay in smaller amounts over time
- Enables acceptance of global QR code-based digital wallets like PayPal, Venmo, and CashApp
- Facilitates Open Banking payments through QR code scanning and direct bank account transfers
- Provides a white-label solution, SDK, branded web portal, and app-to-app integration
- Compliant with MPOC 1.1 certification standards