Thursday, 31 Dec, 2020
THINK SQUARE. Think of a device plugged into your phone to transform any mobile device into a payment processing device, to swipe your card, or to do chip & PIN.
The number of startups into this market is very big. Crowded market. It’s easier to figure in a way like this: there is at least one startup or grown up company per developed country and in many places more than one.
However, The newest trend – a much wiser one – is now to do the same without device, seamlessly, an example of it being PayCECPos.
Devices will become a commodity and all you do is to move same old payments through a new system. If you don’t combine it with real innovation, you are just replacing a device (granted, with a cheaper, already in the market, and faster).
Every single MPOS player claim that the DATA will be a mainstream source of revenue for them, as the information they will collect will be unprecedented. It should not only generate new business for financial institutions, but for insurances, or simply raise financial inclusion particularly in developing countries.
Another interesting angle of this debate is to figure out where MPOS have better chance to flourish. One could argue that developed countries could use this technology to develop their networks of small merchants, fight against black economy and money laundering. You could also think of it as a way to promote financial inclusion in countries where in practice there are no other form or payments outside cash. The debate is open.
What is certain, is that MPOS is a very high cash burning business, by nature (not to mention the fact the the biggest factory producing these devices are in China and I believe the biggest is the same one producing all iPhone components), therefore it has to find quick other form of monetisation, and most importantly sync up with the pace at which banks will be able to adopt it.
We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.
Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.
PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.