Payment – Bank Payments

Accept Bank-to-Bank Account Payments with IPosUp App

Merchants accept QR Code bank-to-bank payments for their goods and services at only 0.25% transaction fee.

ACCEPT BANK PAYMENTS FROM CUSTOMERS USING ‘BANK’ PAYMENT OPTION IN IPOSUP APP

The biggest open banking opportunity lies in challenging the dominance of the card schemes in the Point of Sale (POS) market. ‘Bank Payments at the POS’, also known as QR Code bank-to-bank account payments, are ubiquitous in India and yet to gain a small fraction of POS payment market share in UK, EU and Kenya. Financial services are expected to move in the direction of bank payments at the POS. The challenge is enabling bank account payments at the merchant point-of-sale which is affordable, simple and secure: scanning QR Codes of recipient bank account details at the POS is the answer! With IPosUp, even micro-businesses can now accept instant bank account payments with their IPosUp app. Accepting bank payments with IPosUp means merchants are in control, in-store and online.

IPOSUP APP FOR CONSUMERS

Using a blockchain account ledger solution, IPosUp app also offers consumers personal accounts with IFSC/sort code, account number and an addressable IBAN. Users personal accounts are connected to UPI (India), PesaLink (Kenya), FasterPay (UK) or SEPA (EU), allowing flexible usage for consumers, ensuring high levels of low-touch multi-currency payments processing.

0.25% TRANSACTION FEE

When customers pay with bank there is a 0.25% inbound transaction fee incurred by the merchant with transactions recorded in the merchant’s HCE Wallet Merchant Settlement Account (MSA) .

Bank payments at the POS

IPosUp app speeds up customers payments, provides smooth onboarding and gives better visibility on funds. With their own IBAN accounts, customers can transfer funds in and out directly, using just their account number and IFSC/sort code, with automatic reconciliation built-in, that ensures their balances are updated in real-time.


The Merchant simply needs to:

1. BANK PAYMENT

Open the IPosUp app component.

2. START PAYMENT

Enter the sale amount.

3. MERCHANT QR CODE

Select the ‘BANK’ payment option and allow the Customer (sender) to scan the Merchant QR Code.

4. TRANSACTION COMPLETE

Transaction success is displayed on the Merchant smartphone.

The Customer simply needs to:

1. SENDER ACCOUNT LIST

Open the HCE Wallet app component and select the sender account.

2. SENDER ACCOUNT

Press the ‘SEND’ option to scan the Merchant QR Code.

3. MERCHANT QR CODE

Scan the Merchant (recipient) QR Code.

4. CONFIRM AMOUNT

Confirm the payment amount.

5. TRANSACTION COMPLETE

Transaction success is displayed on Customer (sender) smartphone.

WHAT WE OFFER

IPosUp Point-Of-Sale solution to suit you

The IPosUp apps transform your smartphone into your everyday Mobile Point-Of-Sale card and bank  payments device. Using the latest QR Code technology we give you the ability to securely streamline your bank payments at a low cost.

IPos soft

Receive payments on the move with your IPos soft. Our MPOS Tap-to-Phone/QR Code IPosUp app allows you to accept card and bank payments via your smart NFC and Camera smartphone devices. Take contactless card and bank payments anywhere and anytime without any external card reader!


Free

IPos bric or pad

Connect your IPos pad via Bluetooth and allow customers to tap or insert their card to pay for goods and services. Our IPos pad gives the customer more flexibility enabling chip-and-PIN and contactless when it comes to making payments.


£19 + VAT per IPos bric or pad

Rs1800 + GST per IPos bric or pad