PayStand’s New Mobile Point of Sale App Enables Credit Card, Check, and Bitcoin Payments

March 27, 2015 By: Melanie Macinas

PayStand launched an all-in-one mobile point of sale (mPOS) solution in the United States, a mobile app that enables payments by check, credit card and bitcoin.

The mobile app enables PayStand platform merchants to accept payments on their iPhones in physical stores and in the field, while significantly reducing transaction rates compared to existing point-of-sale systems.

Available in the Apple App Store, this new mPOS solution is offered as an extension of PayStand’s Payments-as-a-Service platform to offer flexible online payment and payments for a fixed monthly subscription.

The mobile app processes credit card payments through a card reader that plugs into an iPhone’s audio jack. Merchants simply swipe customers’ American Express, MasterCard, or Visa cards to make payments.

For check payments, merchants take a photo of the paper check to directly debit consumers’ bank accounts.

For Bitcoin payments, consumers scan a unique QR code that the mobile app displays.

“With our mobile app, PayStand brings the same ease of use, flexibility and savings to point-of-sale retailers that we offer to online merchants,” said Jeremy Almond, CEO of PayStand. “We provide merchants with a single dashboard to manage all of their payments and a path to zero transaction fees. “

Launched last year, PayStand’s payments-as-a-service business model provides merchants with the tools they need to accept credit cards, bitcoin, and electronic checks directly on their websites and social media pages. for a fixed monthly subscription rate. The particularity of PayStand is that it does not increase transaction fees; it seeks to offer the lowest possible credit card rates and other zero percent payment options.