Merchants in 4 countries including the UK, Germany, Bulgaria and Romania will participate in testing the new mobile POS service (mPOS) to allow contactless payments to be accepted on Android mobile devices without the need for additional any “lock or hardware”.
Mastercard has partnered with new software companies Phos and Paynetics specializing in mobile POS and has a cryptocurrency license across Europe that will act as an intermediary for this trial.
The 200 merchants participating in the pilot program can download the Phos app from the Google Play store and verify their identity using a standard and appropriate full digital verification process.
Mastercard said, “Simple and effective, this solution will enable millions of micro, small and medium-sized businesses (MSMEs) to accept cashless payments and grow their businesses. Micro, small and medium are the backbone of the European retail economy, generally accepting cash, a type of payment that is completely costly and unsafe in the current context. ”
“Phos and Mastercard are now able to provide a new alternative for MSME to help them accept digital payments in a simple, efficient and secure way,” added Mastercard.
– According to NFCWorld –
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