Leading payment systems and solutions provider OMA Emirates Group LLC has paired up with UnionPay International to promote touch payments in the Middle East and Pakistan by developing a Point of Sale (POS) solution ‘SoftPOS’.
SoftPOS is expected to be very cost-effective and secure, transforming NFC-enabled smartphones into POS, thus providing a much-needed touch payment service in line with UnionPay’s digitization strategy.
The tap-to-phone solution would allow consumers to accept payment digitally by tapping the NFC-enabled card or mobile device on the merchant’s NFC-enabled Android smartphone.
Group CEO OMA Emirates Group LLC, Niranj Sangal, commented on the project,
We are very excited to collaborate with UnionPay International in introducing SoftPOS to the Middle East and Pakistan region. We strongly believe this will be a game-changer, especially for SMEs looking for a respite from ever-increasing operational costs. We look forward to further strengthening our position across multiple regions by associating with UnionPay International and offering value-added products and services to our clients.
General manager (Middle East) at UnionPay International, James Yang, stated, “UnionPay International is pleased to partner with OMA Emirates Group LLC in revolutionizing innovative payment methods in the region, and we believe that this solution will help acquirers to scale their POS touchpoints. SoftPOS will enhance the experience for smaller merchants and make digital payment collections simple, reliable, and flexible where conventional POS isn’t feasible due to the high cost of hardware”.
He added, “We are confident that this new solution will allow new category merchants to accept contactless payments in an easy way as customers are moving to digital channels faster than they have in the past”.
Payments made through SoftPOS are expected to be secure as is the case with physical POS terminals. Contactless payment will be seamless for merchants and SMEs to adopt the new system, allowing businesses to deal with cash handling issues and other operational challenges that arise due to the exchange of physical currency/tender/money.
