Paymob Develops Tap To Phone in Partnership with Visa
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(YorkPedia Editorial):- London, Oct 28, 2020 (Issuewire.com) – The Center for Corporate Technologies (CCT), part of the Paymob Group, has become a Visa Ready Certified partner after developing Tap To Phone technology which can turn any Android smartphone into a contactless payment terminal.
This cost-effective technology enables businesses to accept contactless payments anywhere, any time via an app which they can download to their tablet or mobile phone. After registering and selecting their participating bank, the sellers can start accepting contactless payments in just a few minutes.
Co-founder and CEO of Paymob Technologies Ltd Kosta Du said: “This technology will revolutionise the whole payment acceptance industry and we’ve spent years and a vast amount of resources developing our Tap-To-Phone in-house solution.
“We’ve already been certified by Mastercard but becoming Visa Ready certified was another key milestone for us as it will enable us to partner with Visa clients to go to market and make our solutions available to sellers across the globe. It also gives sellers the peace of mind that our technology meets Visa’s high standards for functionality and security.”
Boris Federov, General Manager of CCT, added: “The COVID-19 pandemic has impacted small businesses by shifting them to remote work that has led to a significant increase in delivery services.
“Tap To Phone ensures the mobility and cost-efficiency which are crucial for SMEs during the pandemic. We have put lots of effort into creating a fully adaptable and secure solution, which will support SMEs and develop a cashless payment economy in the UK and beyond.
“We are thankful to the Visa team who supported and consulted us at all stages of the project development.”
CCT is currently certified by Visa and Mastercard for processing contactless transactions (non-PIN confirmed transactions) for which the limit in the UK is currently £45. However, the Paymob group has developed the existing non-PIN solution to empower it with revolutionary PIN-on-Glass technology. This means in the future sellers will be able to accept payments over £45 using only their smartphone.
Kosta said they want to be the first company to bring this Tap To Phone and PIN-on-Glass technology directly to sellers in the UK.
“We believe in our technology to such a degree that we chose one of the most advanced and competitive financial markets in the world, the UK, to launch our own payment company and win local businesses.
“Recently we became a registered Small Payment Institution (SPI) with the Financial Conduct Authority (FCA) and are planning to introduce a whole range of our technologies directly to UK merchants.”
To find out more about Paymob Technologies visit paymobtech.com
Notes to Editors
About Paymob Technologies Ltd
Paymob is an innovative software development company offering smart payment solutions for both B2B and B2C sectors. The all-in-one Paymob solution empowers banks, fintechs and merchants with a bespoke payment infrastructure that includes a multi-banking payment gateway, stylish contactless payment terminals and a certified by Visa and Mastercard Tap to Phone mobile application. The server-based infrastructure software EFTPOS (Electronic Funds Transfer at Point-of-Sale) has been designed to efficiently integrate with existing banking systems or can be used as an independent payment processing solution which streamlines several processing centres and allocates the transaction to the cheapest provider.
The Center for Corporate Technologies, part of Paymob Group, is one of the leading software developers of innovative IT solutions for banking and financial industries. Today CCT’s project portfolio includes more than 30 projects in 10 countries: Russia, Belarus, Kazakhstan, Armenia, Turkmenistan, Ukraine, Kyrgyzstan, Kuwait, Mongolia and Georgia. The company’s clients are the leading Russian and foreign banks and companies.
PAYMOB TECHNOLOGY LTD
+44 7342 00008871
Shelton Street, Covent Garden, London, England,
This article was originally published by IssueWire. Read the original article here.