Next-generation mobile card payment technology launches in the UK

A mobile payment system that enables retailers to instantly access their funds has launched in the UK.

The myPOS system combines a mobile point of sale terminal with a free online account and prepaid business card, enabling retailers to accept card payments as readily as cash.

The myPOS solution is not built on the banking system, but instead stores payments in a free myPOS e-money account, enabling retailers to either spend received funds immediately via their myPOS Visa card, or to make an online transfer to another account.

To support entering the UK market, myPOS is launching a physical store in Knightsbridge in London, on 8 February.

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