Rubean Expands PhonePOSTM Deployment With Global Payments Europe

Rhea-AI Summary

Global Payments Europe (GPE) and Rubean AG have expanded Rubean's PhonePOS™ service in Hungary, enhancing small merchant payment options. The adoption by a major delivery company has led to a rapid increase in transactions, exceeding 1,000 daily within days of launch. PhonePOS™ allows merchants to accept contactless payments via Android smartphones without additional hardware, contributing to the shift toward electronic payments mandated by new legislation. Rubean expects to replicate this success in other markets, with PhonePOS™ showcased at Money2020 in Las Vegas from October 24-27.

Positive

• PhonePOS™ adoption has led to over 1,000 transactions per day shortly after launch.
• PhonePOS™ allows merchants to accept payments without additional hardware, increasing accessibility.
• The solution is PCI CPoC certified, indicating high security standards.

Negative

• None.

MUNICH & PRAGUE--(BUSINESS WIRE)-- Global Payments Europe (GPE) and Rubean AG announced that Rubean’s PhonePOS™ in Hungary added enterprise services to its small merchant offering. PhonePOS™ growth has been boosted by its adoption by a major package delivery company. Customers that have chosen to pay for their goods on delivery can now simply tap their card on the PhonePOS™-enabled devices carried by the couriers. The initial transaction volumes for the new service are very encouraging; within a few days of launch the number of transactions increased exponentially, already more than a thousand transactions processed daily – and the trend clearly rising.

PhonePOS™ enables any merchant with an Android smartphone to download an application from Google Play and start taking contactless payments immediately (directly on the smartphone, without the need for hardware of any kind). PhonePOS™ offers merchants of all sizes a safe, practical, and inexpensive way to accept card payments virtually anywhere. PhonePOS is PCI CPoC certified so it can be deployed in mass distribution; one of only a handful of solutions, worldwide, to achieve this.

The market for card-present payments is changing rapidly and Hungary is a prime example: On Jan 1^st 2021 new legislation came into force (in Hungary) requiring merchants with online cash registers to be able to accept electronic payments. It’s estimated that over 60,000 merchants which, until recently, had been “cash-only” traders, have been affected. Several hundreds of merchants now use PhonePOS™ every day, processing amounts equivalent to hundreds of thousands of Euros.

“Software-only payment acceptance allows card-present payments to be taken almost anywhere and thereby creates new business. We’ve chosen Rubean’s PhonePOS solution in order to introduce that innovation into various markets,” said Karel Jara, Executive Director and VP Product Development for GPE.

Hermann Geupel, Rubean’s CEO commented, “We consider Global Payments Europe to be the leader in Central and Eastern Europe, one of the most dynamic payment markets today.” Rubean anticipates similar developments in more countries where other major banks are broadly launching PhonePOS.

Rubean will exhibit PhonePOS at this year’s Money2020 in Las Vegas October 24-27, stand K1925.

Global Payments Europe (GPE), based in Prague, is a subsidiary of Global Payments Inc. (NYSE: GPN) a worldwide leader in payments technology and software solutions.

Rubean AG, (ISIN: DE0005120802, WKN: 512080, R1B:GR), established in 1999, is a publicly listed developer of solutions for the financial sector.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211018005013/en/

Benjamin Levy

benjamin.levy@rubean.com

Source: Rubean AG

FAQ

What is the PhonePOS™ service announced by Global Payments Europe and Rubean AG?

PhonePOS™ is a service enabling merchants to accept contactless payments using only an Android smartphone, enhancing payment flexibility.

How many transactions are being processed daily by PhonePOS™ in Hungary?

PhonePOS™ is processing over 1,000 transactions daily soon after its launch.

When is Rubean showcasing PhonePOS™ at Money2020?

Rubean will exhibit PhonePOS™ at Money2020 in Las Vegas from October 24-27.

What recent legislation in Hungary affects payment processing for merchants?

New legislation in Hungary requires merchants with online cash registers to accept electronic payments, impacting over 60,000 previously cash-only merchants.

What are the benefits of using PhonePOS™ for small merchants?

PhonePOS™ provides a practical, cost-effective solution for merchants to accept card payments anywhere without needing specialized hardware.