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myPOS partners with Visa to launch myPOS Glass, a new acceptance solution turning phones into payment terminals

05-05-2021 11:54 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: myPOS

myPOS partners with Visa to launch myPOS Glass, a new acceptance

myPOS Glass is a low-costsolution designed for small businesses and addresses their need to accept digital payments withinh the context of the pandemic

Sofia, 5 may 2021 - myPOS’s new mobile payment acceptance solution myPOS Glass, developed by the e-money institution iCard, aims to popularise contactless payments across Europe and offer small businesses innovative ways to accept cashless payments. The new solution has been approved by Visa for 11 pilot markets: Austria, Belgium, Bulgaria, France, Germany, Greece, Hungary, Italy, Netherlands, Portugal, Romania.

myPOS Glass is a softPOS solution built on Visa’s Tap to Phone technology, that enables SMEs and micro enterprises to turn Android phones equipped with an NFC (Near Field Communication) chip, into POS terminals. Merchants can start accepting payments by just downloading the myPOS app on their smart phone. It is a cost-effective, easy to install solution that removes the need for small businesses to install additional hardware, while also meeting the payments industry’s strict security standards. The solution does not keep any sensitive cardholder data on the merchant’s smartphone.

To do a payment, cardholders just need to bring their card or smart phone device to the back side of the merchant’s phone and hold it until Visa’s Sensory Branding, a Visa-specific visual animation and a sound, are triggered. The accepted payments are then deposited immediately in the merchant's myPOS account, thanks to the instant settlement feature that myPOS offers at no extra cost for its clients.

When it comes to pricing, the new solution presents a choice between “Starter Plan” which offers a Pay-As-You-Go service and “Pro Plan” which comes at a small monthly fee combined with more competitive transaction rates.

myPOS Glass is suitable for professionals on the go, suppliers and couriers, street food outlets, seasonal markets, fitness and wellness consultants, etc.

More information about the product can be found at https://www.mypos.eu/en/glass

About iCard
iCard’s mission is to make everyday payments easier, more accessible, and secure. iCard is a fintech company founded in 2007 by a small team of enthusiasts. Today, the company is a licensed electronic money issuer, card issuer, acquirer, and market leader in digital financial services in over 30 countries across Europe with more than 1 million clients and 250 employees.

About myPOS
myPOS is a fintech company serving more than 100,000 businesses across the EEA and Switzerland. The myPOS e-money accounts and payment services are provided by iCard, an EU-licensed and BNB-licensed e-money institution which is a principal member of Visa, Mastercard, Amex, JCB, UPI, and other card regulators.

myPOS Ltd
Level 24, The Shard, 32 London Bridge St.

Yana Borisova, PR Advisor
pr@mypos.com

Launched in 2014 at the Mobile World Congress in Barcelona, myPOS became the first fintech in Europe to offer merchants instant settlement of funds 24/7/365. The payment service consists of several core pillars including in-store payments acceptance through POS terminals, online payment solutions with secure and fast checkouts and online payments via SMS or email, a mobile app that accompanies the merchant on their payments journey, and the latest innovation in our portfolio – myPOS Glass, launched in October 2020, which is an app that turns a merchant’s Android smartphone into a payment terminal.

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