PAYO mPos

PAYO is an innovative mobile point of sale (mPOS) solution that transforms smartphones into electronic cash registers and point-of-sale terminals. It supports both contact and contactless transactions, providing businesses with a cost-effective and portable payment processing tool. PAYO comprises three main components:

1. mPOS Application: Compatible with iOS and Android devices, it enables seamless processing of transactions using mobile devices.
2. PAYO Back-End: Acts as a middle layer between the mPOS application and banking systems, ensuring secure and efficient communication for transaction processing.
3. PAYO API: Offers integration capabilities for embedding mPOS functionality into other mobile solutions, expanding its usability.

System Workflow

The PAYO system operates through the following workflow:

1. The user initiates a transaction via the mPOS application on their mobile device.
2. The application communicates with compatible payment terminals (BP500, BP50, InfineaTab) to securely capture payment details.
3. Transactions are processed in a fully P2PE-secured environment, ensuring end-to-end encryption from card insertion to transaction completion.
4. The PAYO back-end validates the transaction with the banking network and authorizes payments via PIN or digital signature.
5. The application synchronizes with a catalog to fetch item details, which can be added to the cart using a built-in barcode scanner.
6. Upon successful payment, receipts are generated and sent via email or printed using FM350 printers.
7. Transaction history and sales trends are available on mobile devices and dashboards for analysis.

Key Features

• Universal Compatibility: Works with iOS and Android devices.
• Certified Terminals: Compatible with CE, FCC, PCI PTS 3.x, EMV Level 1 & 2, VISA payWave, Mastercard Contactless, and other globally certified terminals.
• Multi-Currency Support: Accepts cards issued from any country and facilitates Dynamic Currency Conversion (DCC) for transactions in the customer’s home currency.
• Secure Environment: Ensures end-to-end encryption with a fully P2PE-secured setup.
• Portable Solution: Allows cashiers to process transactions on the go, reducing the need for traditional checkout counters.
• Advanced Analytics: Provides transaction history, sales trends, and detailed reports via a mobile app and dashboard.
• Seamless Integration: PAYO API enables effortless integration with existing mobile applications.
• Additional Functionality: Features like catalog synchronization, ad management, and log maintenance enhance operational efficiency.

Benefits

1. Cost-Effective: Eliminates the need for investing in expensive electronic registers and dedicated POS terminals.
2. Queue Busting: Speeds up the checkout process, reducing customer wait times.
3. Improved Sales Insights: Enables businesses to analyze sales trends and strategize accordingly.
4. Global Acceptance: Supports multiple card schemes (VISA, Mastercard, AMEX, JCB, CUP) and cross-border payments.
5. Enhanced Mobility: Empowers businesses to accept payments anywhere, enhancing customer convenience.
6. Secure Transactions: Adheres to stringent security certifications, ensuring safe payment processing.
7. Ease of Use: Intuitive interface and portable design make it user-friendly for both merchants and customers.

Potential Applications

1. Retail: Enables retailers to offer faster checkouts, reducing queues and improving customer satisfaction.
2. Hospitality: Allows hotels, restaurants, and cafes to accept payments at the customer’s table.
3. Events and Exhibitions: Facilitates on-the-spot transactions during events, fairs, and trade shows.
4. Field Services: Supports mobile workers in industries like delivery services, utilities, and maintenance.
5. Small Businesses: Provides an affordable solution for startups and small enterprises to process digital payments.

Conclusion

PAYO revolutionizes payment processing with its versatile, secure, and portable mPOS solution. By transforming mobile devices into powerful payment terminals, it enables businesses to enhance customer experiences, optimize operations, and increase profitability. With its robust feature set, PAYO is positioned as an indispensable tool for modern commerce across diverse industries.