Fintech firms join forces to create hardware-free mPOS for Android handsets

A syndicate of fintech businesses have joined forces in a bid to shake up the POS marketplace. The collaboration wants to develop a hardware-free mPOS system that converts Android mobile devices into contactless payment terminals.

German fintech firms Rubean, CCV Group, Intertrust and Riscure have been developing the PhonePOS idea with a view to bringing the convenience of card acceptance to so-called micro-merchants.

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