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Phos, an enterprise software-only point-of-sale (SoftPoS) provider, has partnered with global acquirer Elavon to launch a “tap to pay” solution in North America. This solution enables Independent Sales Organizations (ISOs) and Independent Software Vendors (ISVs) in the United States and Canada to turn their mobile devices into contactless payment terminals.
The deal includes an estimated total of 64 million merchants in the US that do not accept card payments. Phos has announced that it intends to further expand its market to improve the revenue potential of businesses in the region. It turns out that existing payment options aren’t affordable for many underserved businesses.
SoftPoS provider Phos finds itself heavily reliant on legacy technology across North America. This, combined with the lack of affordable alternative options, has reduced the number of payment options for customers. Phos’ “Tap to Pay” solution removes the need for traditional his POS chip and pin machines to address existing problems.
The partnership will also allow existing Elavon partners to expand their payment acceptance options. Partners will be able to include a variety of contactless reception solutions.
ISOs can only accept card payments using NFC-enabled smartphones or tablets. The solution is secure for both vendors and consumers and provides a contactless solution to maximize revenue. This solution can be embedded in other applications without the need for additional hardware.
By making the solution accessible to as many merchants as possible, vendors can continue to use their existing applications alongside the solution. Many app-to-app and web app integration options are also available.
brad hyettCEO of Phos gave his view on the partnership. he said:
We are delighted to be working with the first ISO in the North America region interested in deploying software POS technology and providing a solution that works across a wide range of devices and mobile operating systems. Our partnership with Elavon is the first of many in the North American market, with additional acquirer connections planned over the coming months to help us reach more merchants across the region.”
Phos currently has 14 certified acquirer connections worldwide. The company plans to increase the number of these partnerships to offer solutions in all markets. The company said it will announce more certifications by the end of 2022.
