Payabl., an esteemed FinTech institution renowned for its payment solutions, has unveiled its latest innovation – a new point-of-sale (POS) solution – specifically designed to bolster the growth of European merchants.
Headquartered in Limassol, Cyprus, the company prides itself on a team of nearly 100 professionals, and has a strong presence across the European Union with regional offices in Germany, the Netherlands, Italy, Poland, Lithuania, Cyprus, and the UK.
The POS solution has been developed in response to the growing trend of omnichannel shopping. According to research from Harvard Business Review, omnichannel shoppers reportedly spend 4% more on every in-store buying occasion than single-channel shoppers. The newly launched payabl. POS terminals are aimed at capitalising on this potential by providing an easier omnichannel payment experience for retailers, and thereby enabling them to use a single provider for both online and in-store payments.
Payabl., established in 2011, stands as a leading light in the payment solutions sector, offering its high-tech, high-touch approach to businesses worldwide. The company facilitates online transactions from over 300 payment methods, and its reputation is rooted in assisting clients in navigating the complexities of an evolving payments landscape.
The newly launched payabl. POS terminals promise to deliver a seamless omnichannel platform, integrating card-present and card-not-present transaction processing. These terminals will accept transactions made via Visa and Mastercard, as well as mobile payments through Google and Apple Pay, thereby providing merchants with a unified payment solution.
In addition to the immediate benefits for retailers, the launch of the payabl. POS terminals also plays a critical role in the company’s long-term strategy to become a single provider for all of a merchant’s payment needs. The product will initially be rolled out in Cyprus, with expansion plans for other European countries in the pipeline.
Payabl. CEO Ugne Buraciene said, “With the addition of the payabl. POS terminal, we’ve filled in the missing piece of our platform and achieved a full product suite that seamlessly combines card-not-present and card-present transaction processing. This empowers merchants with a unified, omnichannel platform, ensuring convenience and efficiency throughout their operations. The launch is part of our steady progress towards unveiling payabl.one, a new platform which will cater for all financial needs of merchants.”
Theodoros Hadjistyllis, Head of Acquiring & Cyprus Country Manager at payabl., said, “We’re really excited to be launching the payabl. POS terminals today and expanding our offering into the omnichannel space, and it’s fantastic to be doing so in collaboration with Mastercard. Not only is the launch a crucial part of our company’s growth journey, it also supports our mission of fuelling growth for merchants. Launching the POS offering in Cyprus is the first stage of our product rollout ambitions as we plan to expand the offering across the EU later this year.”
Isidoros Mezopoulos, Manager at Mastercard, said, “We are thrilled to collaborate with payabl. on their new POS terminals solution, which will simplify accepting card payments for retail establishments of all sizes. Payments should be a safe and seamless experience for everyone, therefore we at Mastercard believe solutions like these can assist businesses save time and money and focus on what they do best – serving their customers.”