Payment – Bank Payments

Accept bank payments with IPOSUP App

Merchants accept bank payments for their goods and services at only 0.8% sale transaction fee.

ACCEPT BANK PAYMENTS FROM CUSTOMERS USING ‘BANK’ PAYMENT OPTION IN IPOS 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’ is yet to gain a small fraction of POS payment market share. 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. With IPOSUP, micro-businesses can now accept instant bank account payments with their IPOS app component. Accepting bank payments with IPOSUP means merchants are in control, in-store and online.

IPOSUP APP FOR CONSUMERS

Using a blockchain finance solution, IPOSUP app also offers consumers personal accounts with sort code, account number and an addressable IBAN. Users personal accounts are connected to Faster Payments, BACS and CHAPS, allowing flexible usage for consumers, ensuring high levels of low-touch processing for setting up direct debits and instantly Faster Payments.

0.8% TRANSACTION FEE

When customers pay with bank there is a 0.8% transaction fee incurred by the merchant with transactions recorded in the merchant’s HCE Wallet.

Bank payments at the POS

IPOSUP 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 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 IPOS app component.

2. START PAYMENT

Enter the sale amount.

3. MERCHANT BARCODE

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

4. TRANSACTION COMPLETE

Transaction success is displayed on the Merchant phone.

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 barcode.

3. MERCHANT BARCODE

Scan the Merchant (recipient) barcode.

4. CONFIRM AMOUNT

Confirm the payment amount.

5. TRANSACTION COMPLETE

Transaction success is displayed on Customer (sender) phone.

WHAT WE OFFER

A Point-Of-Sale solution to suit you

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

IPOS soft

Receive payments on the move with your IPOS soft. Our MPOS Tap-to-Phone technology allows you to accept card payments via your Android smart NFC devices. Take contactless card payments anywhere and anytime without any external card reader!

Free

IPOS bric or pad

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

£19 + VAT per device