EBS Founding Team Members Launch Payment Solutions Venture ‘Paynear’

Post their exit from EBS Payment Gateway and undergoing acquisition twice, first by Ogone and further Ingenico acquiring Ogone, the EBS founding team have evolved their belief in payment space. With internal funding, they have launched a new payment systems venture Paynear.

With its headquarters in Hyderabad, India, Paynear has created “mPay” a payment solution that transforms merchant’s Smartphone/Tablet/PC to a card payment acceptance device. The solution connects to a Chip and Pin EMVCo certified PED to process payment transactions.

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The company’s objective is to build an organization that provides solutions to empower Mobile Point of Sale payments across all verticals. Their mPOS Device works with smartphones, tablets and PCs, and want to offer businesses an affordable system to accept credit cards in order to move towards a cashless transaction system.

Also Read: mPOS in India: What, Why and more

Paynear team emphasize on the security of their payment solution. It is PCI DSS Level 1 compliant, compliant with MasterCard, Visa, Rupay and American Express, and holds PCI PTS,EMVCO Level 1 and Level 2 certifications. Some of the salient features of this new product include.

  • Multi-Device compatible solution to connect Paynear mPOS to any smart phone/tablet/PC to accept card payments.
  • Regional language mobile app for better usability.
  • Linking single device with multiple users.
  • Ability to capture ID proof for high value transactions.
  • Payment acknowledgement based on the customer convenience, either via SMS, E-mail or by printed receipt using bluetooth printer.
  • Geo-tagging, Geo-fencing and Velocity checks for risk mitigation.
  • Extending loyalty programs for your customers, by tracking your customer data and provide the personalized shopping experience.
  • Tracking Daily, Weekly, Monthly sales with Paynear’s Web based portal.
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To contact the author, write to sugandh@iamwire.com

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  • Mridul Taneja

    i know these guys!!!All the best and make this also a success story!!!