OTP Bank lets Romanian merchants turn their NFC phone into a contactless POS terminal

OTP Bank OTP POSibil merchant contactless POS on a smartphone
MOBILE POS: The OTP POSibil app enables retailers to accept contactless payments on their NFC devices

Merchants in Romania can now accept contactless payments on their Android NFC smartphone or tablet using a software point of sale (sPOS) solution launched by OTP Bank.

The OTP POSibil app “allows on-the-spot payment acceptance operations, without the need for a classic POS terminal and without additional maintenance costs or consumables,” the bank says.

“The application is compatible with mobile terminals with Android operating system, mobile phone or tablet, and is optimal for use in courier and delivery activities, taxi transport services and entrepreneurial activities, where business mobility is a key factor.

“OTP POSibil is implemented in partnership with Mastercard and Visa and incorporates the technology generically called SoftPOS, which offers mobility, speed and flexibility in the payment acceptance of contactless bank cards and alternative payment devices, equipped with NFC technology, all while facilitating collection operations.

“Transactions are secured by encryption technologies specific to POS terminals, can be tracked directly in the application, and receipts are automatically processed in the user’s account on the next working day after the transaction.”

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