Mobile POS Providers Haven't Reached A Tipping Point Yet

Every day, small businesses are inundated with yet another service or device to process payments, claiming to make this one better, faster and more secure than the last one. Merchants, cashiers and clerks are finding themselves just as frustrated with the same payment technologies that were intended to make life easier. Skeptics may even believe that some areas of the payment ecosystem have become too dense to disrupt. Judging by the amount of new FinTech startups emerging and re-innovating mobile payments, I’m going to speculate that we are yet to see the tipping point for POS (point-of-sale).

Circle Plus Mobile Payable is one of the latest mobile app-based payment solutions, aimed to help merchants simplify the POS transaction process and mitigate the need for additional external hardware. The app enables merchants to provide diverse contactless payment options by using a smartphone. Circle Plus Payments recently introduced a companion application, the Wallet Payable app, which offers added flexibility to both the merchant and consumer. An invoice feature makes completing remote financial transaction hassle-free, resulting in an enhanced user experience.

Additionally, scanning QR (quick response) codes and accepting bitcoin in the user’s local currency without any conversion loss or having to hold bitcoin are some unique and invaluable capabilities. The Circle Plus Payments and their suite of app-based solutions—Payable Bitcoin, Payable Pay (credit card, bitcoin) and Payable Wallet (includes Apple Pay)—are supported in over 20 countries. The mobile apps are available for download on the App Store for iOS and on Google play for Android users.

Within the payments ecosystem, contactless payments have gained much of the fanfare by consumers because of the easy access of having their mobile wallet in the palm of their hand. While EMV (Europay, MasterCard and Visa) technology was developed to increase security and reduce fraud, merchants are burdened with updating their POS with external EMV terminals and readers at their own expense.

The United States EMV mandate went into effect in October 2015. While most large companies have rapidly made the transition and some small businesses have also invested in updating their POS terminals, there are still many small businesses that have not. Supporting evolving consumer demands for simple payment options, adhering to new compliance regulations and competing in the everyday rat race to survive as a small business are some of the pressures merchants are seeking to resolve.

About Circle Plus Mobile Payable:

Engineered by Tarsin Mobile (TMIX) and supported by Circle Plus Payments, Circle Plus Mobile Payable is available in the United States, Canada, Europe, Australia, and many other countries. Apps are PCI (payment card industry) standard compliant, extremely secure and developed by payment industry experts with several patents pending. Its growing client base is from all over the world. Daily transaction amounts for cards and bitcoins are not limited. App features include mass campaign features for donations, multiple employee sign-up under a single account, Apple Pay option, Wallet Payable option, shopping cart features and QuickBooks integration with no external hardware. Source: Tarsin Mobile Inc.