phos joined forces with Paynetics to deliver the revolutionary solution it has developed – a mobile application for Android devices that turns them into payment POS terminal



What we did for phos

e-wallet | Acquiring | Issuing | IBAN accounts | QR payments

Client and Brief

phos is a fintech start-up established in 2018 which has developed an innovative and game changing technology – a Software Point of Sale. Its SoftPoS solution allows merchants to accept card payments directly on their their NFC enabled phone or another Android device without the need for any additional software.

phos needed to connect with a European acquirer in order to roll out its SoftPOS in the market. It required a partner with the necessary experience and flexibility to accommodate the launch of an untested solution for the first time in the market. Phos also needed continuous support from the acquirer in testing the product and providing the required feedback. Finally, the company was looking for someone to assist in the relationship with VISA and Mastercard.

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Our Strategy

Innovative thinking to deliver a game changing payment solution


The phos product was fully in line with the mission of Paynetics to make payments less complicated and cumbersome for millions of merchants. We embraced the concept and provided full support to phos in connecting the Soft POS to our processor and assisted in getting the necessary approvals from VISA and Mastercard to launch the product. Paynetics organized the initial pilots and opened its European network of partners to the benefit of phos.

Having established the acquiring services for phos we then looked at how to bring more value to the merchants. We offered free business cards, enabling instant settlement and resolving another pain point for the small merchants. We than facilitated the integration in phos of another product supported by Paynetics – My Rewards, thus allowing the small traders and retailers to benefit from a sophisticated loyalty program without upfront investment

"We are proud to be part of this effort to revolutionise payment acceptance and help merchants adapt quickly to a cashless society. With over 30 million merchants in Europe unable to take card payments currently, the ease of deployment and speed-to-cash that phos offers customers is a service long overdue."


Ivo Gueorguiev

Chairman @ Paynetics

The Impact

Amongst the first in the world

A revolutionary solution

brought to market

VISA and Mastercard

strategic partnerships structured

Against all odds, phos and Paynetics have successfully delivered a product which is transforming payment acceptance and the smartphone. In addition, the frictionless merchant onboarding process of Paynetics complements the product and empowers merchant to start accepting payments within minutes.

phos is one of the very first applications in the world to successfully pass functionality and security requirements and certifications of Mastercard and Visa and is approved to operate live since November 2019. It is now active in most European markets and looking to expand in the US and Asia.

“Our partnership with Paynetics capitalizes on thier payment infrastructure and the competitive acquiring services and has helped to significantly reduce the time to market. We rely on Paynetics deep understanding of the needs of the SME merchants in our continuous effort to further develop and improve the product.”


Brad Hyett

CEO @ phos

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