Paynear Solutions extends its services to mobile points of sale

Mobile point of sale (mPOS) solutions provider Paynear Solutions Pvt Ltd aims to distribute 20,000 devices during the current fiscal year.

“We have received an encouraging response to our mPay solution since its launch last year and we expect some traction in device distribution this year,” said CEO Priti Shah. Activity area.

mPay is a mobile point of sale solution designed for merchants and businesses of all sizes and industries. This allows merchants to accept credit / debit cards anywhere, anytime via their smartphones, tablets and PCs.

The mPOS device, imported from Poland, will be downloaded with apps in seven regional languages ​​to facilitate payment transactions. “From small e-kirana store owners to large businesses can use this device to accept card transactions after downloading the required software to their mobile,” she said.

The company’s revenue model is based on a monthly rent of around $ 300 to be collected from users, in addition to a one-time setup fee of $ 2,500. The start-up, which already operates in Mumbai, Chennai, Begaluru, Hyderabad, Pune and Salem, among others, will focus more on Tier II locations, according to Anil Bharadwaj, chief commercial officer of Paynear Solutions.

“We are the only ones on the market to offer applications in regional languages ​​and this will be our strength in the future,” he said.

The company is also in the process of closing an investment deal, he said, adding that details could be revealed in a month or two.

“We are on the expansion mode and the investments will be in technology development, devices and also marketing / support operations,” Bharadwaj said, adding that the number of employees will also increase from 100 to 250 by now. March 2016.

In addition to mPOS, Paynear is working on the upcoming launch of mKiosks and electronic payment gateways.

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