Phos and Paymix bring Tap-to-Pay tech to German & EU markets

By Gloria Methri

Phos, the specialist in software point-of-sale (SoftPoS) orchestration for businesses, has partnered with Malta-based Finance Incorporated to strengthen its Paymix brand and digitise the merchant landscape.

Finance Incorporated is an electronic money institution that operates the brands iPaymix, Paymix Pro, and Paymix VIA, delivering account, payments, and card services. Paymix SoftPoS is the firm’s latest launch developed through its partnership with Phos.

Phos’ Tap-to-Pay solution uses state-of-the-art technology for secure transactions through a mobile device. It allows quick and contactless processing of payments, bringing added convenience to businesses and consumers. Businesses can thus increase the number of payment acceptance points, without having to buy expensive traditional card readers.

In bringing a Tap-to-Pay solution to market, Paymix will provide onboarding along with special offers that can benefit underserved segments like female entrepreneurs and non-German business owners. Paymix will also focus on maturing the product with value-added services to complement plans to roll out to additional markets in the EU later this year.

Brad Hyett, CEO of phos, said, “Paymix has bold ambitions to enter the German market and our partnership is a significant step forward in this direction. We understand the needs of their merchants and bring secure, contactless payments on mobile to businesses across Germany and the EU. We are looking forward to assisting in driving the adoption of Tap-to-Pay technology and offering our tech stack to companies who can amplify SoftPoS on a global scale”.

Cenk Kahraman, CEO of Finance Incorporated Limited, added, “As part of our commitment to supporting small businesses, we are looking forward to seeing the future developments of our offering partnering with phos, a leading service provider in digital payments. We are taking on Germany as the first market to launch this solution. With the size of the market, the demand, and the opportunity, we are confident that this technology will be well-received by German merchants.”

Its latest partnership with Paymix comes amid growing market interest in SoftPoS and Tap-to-Pay technology. Phos was recently acquired by Ingenico, the global provider of payment acceptance solutions.