Paysafe Launches New Mobile Payments Point of Sale Solution in the US
If I have a key that unlocks every door, then I have a truly amazing key indeed. But if I take it to a place where there are no doors, then it’s worthless. This roundabout metaphor is especially important to a new release sent our way from Paysafe, which illustrates the establishment of a lot of new doors in its Mobile Pay system.
Soft-launched in the third quarter of this year, Mobile Pay takes a range of technologies—apps built by Apriva and hardware from AnywhereCommerce—to build what amounts to a new mobile point of sale system, opening up the path to mobile payments almost anywhere. Small and medium-sized businesses (SMBs) were widely interested in getting more mobile payments systems integrated into their current operations, so Paysafe stepped up and brought out just such a tool.
Essentially, with Mobile Pay, businesses now have a tool that can accept a full range of mobile payments options with little regard to their current location as long as a smartphone or tablet is available.
Mobile Pay not only allows for Europay / Mastercard / Visa (EMV) operation, it also works with magnetic swipe reader (MSR) systems. Unlike previous entries, the Mobile Pay system works with a battery that offers it an extended run time, making sure it lasts until the business is closed. It can even offer support for older mobile payments tools, including checks and cash.
Some will note here, we already have the Square dongle, among other things; who needs this point of sale system? While Square’s dongle was definitely a major advancement forward, it was also one that tended to focus mostly on accepting credit cards anywhere remotely. With plenty of users stepping into e-wallet systems and the like, being able to accommodate them as well will be a significant step forward from what Square has done. It’s like going from a pocketknife to a multitool; you get that same knife, but you also get pliers and a few other gadgets built in.
Paysafe’s advance should go a long way toward bringing more users into the mobile payments market. That’s going to make a lot of new doors for our amazing key to open up, and that means a whole new value to the mobile payments market.