A Turkish start-up hopes to entice more taxi drivers to accept contactless credit and debit cards using SoftPOS terminals on Android smartphones, under a scheme being rolled out by the local fintech.
Payneer Technology, not to be confused with the American fintech, Payoneer, which handles online funds transfers, has launched a trial of the SoftPOS service. The start-up is working with large Turkish bank, Yapı Kredi and the bank’s recently launched SoftPOS product, known as POS Cepte. The NFC-enabled SoftPOS product is certified by Visa and Mastercard, said Payneer.
The big payments networks, among others, are pushing SoftPOS technology as a way to encourage more small and micro-merchants to accept cards. That includes street vendors, delivery persons, professionals working remotely and taxi drivers. The technology uses NFC-enabled smartphones and tablets to accept the payments via the devices’ reader mode.