Phos and Mastercard boost European mobile payments tie up
FinTech startup Phos has extended its partnership with Mastercard and will now step up the roll-out of its mobile payment solution.
12,000 small businesses across 12 European countries will be able to accept contactless payments using their Android devices, with this number set to increase over the coming months.
Following a pilot scheme which covered the UK, Germany, Romania and Bulgaria, the new phase of the partnership brings in eight other countries, including Belgium, France, Greece, Italy, the Netherlands, Poland, Portugal and Spain.
The project will rely on Paynetics, an e-money institution with licence across the European Union, as the acquiring bank.
Brad Hyett, CEO at phos, says: “Our ongoing partnership with Mastercard brings next-gen payment technology to those financially underserved merchants who want to maximise the sales potential of their customer base, and is particularly pertinent as they get back up and running post-lockdown."
"With a proven and credible technology solution behind us, we have purposefully built a solid network across the European region that we can use to support those businesses, for who we expect significantly increased sales.”
“The support we are getting from the team at Mastercard on both a global and local scale will allow us to help even more businesses expand their portfolio of payment options over the coming months.”
Jason Lane, EVP, Market Development Europe at Mastercard, comments: “Small businesses form the backbone of the European economy; enabling them to accept digital payments isn’t only more convenient and secure, but it’s also essential for them to operate.”
”In the new normal, we are delighted to extend our partnership with phos to empower small businesses to offer more payment options as they open their doors post lockdown.”
