Softway Finance's SoftPOS technology transforms NFC-enabled Android smartphones and tablets into secure payment terminals, allowing businesses to accept EMV contactless card payments without the need for traditional hardware. This solution eliminates the costs and logistical challenges associated with physical POS systems, enabling seamless transactions and efficient payment management.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional point-of-sale (POS) systems require dedicated hardware, leading to expenses and logistical challenges for businesses, especially those seeking mobile or flexible payment solutions. These systems can be cumbersome to set up, maintain, and upgrade, hindering transaction efficiency.
Solution
Softway Finance's SoftPOS technology converts NFC-enabled Android smartphones and tablets into secure, virtual payment terminals, enabling businesses to accept EMV contactless card payments without the need for traditional POS hardware. This solution eliminates the costs associated with physical terminals, reduces power consumption, and simplifies upgrades through online management. SoftPOS empowers businesses to accept payments on the go, manage multiple terminals, and streamline payment processes.
Target Audience
The primary target audience includes businesses of all sizes seeking cost-effective, mobile, and sustainable payment solutions, particularly those operating in environments where traditional POS systems are impractical.
Features
- Transforms NFC-enabled Android devices into secure payment terminals
- Supports EMV contactless card payments
- Eliminates the need for dedicated POS hardware
- Enables creation and management of multiple terminals
- Facilitates mobile payment acceptance
- Offers a "Linkpay" feature for generating and sharing payment links
- Provides digital transaction confirmations, reducing paper waste