vPOS app launched to make card payments even more accessible

More and more entrepreneurs choose to offer customers the option to pay with payment cards at their points of sale. So that every entrepreneur, even the smallest, can find a suitable solution, Industra Bank introduces vPOS - an app for accepting contactless card payments.

An increasing number of Latvian entrepreneurs choose to install devices for accepting card payments in their outlets, according to the data of the Financial Industry Association. If at the end of 2019, 14.7 thousand merchants provided their customers with the opportunity to pay for purchases with a card, then two years later their number had already increased to 16.5 thousand. And not for nothing, because the popularity of cards, especially among Latvian residents, continues to grow.

At the same time, the needs of traders are as different as the different types of their fields of activity are, therefore Industra Bank, in addition to the classic POS terminals, introduces a virtual or vPOS terminal. vPOS is a mobile app that enables our customers to accept card payments, replacing a physical POS terminal device. The app is certified by Mastercard and VISA.

Jānis Diediškis, a member of the board of Industra Bank, responsible for the area of customer service and business development, states: "Our goal is to offer Latvian entrepreneurs tools that help them develop their business. We already had card payment solutions suitable for large merchants, so we decided to supplement our range with vPOS - a virtual POS terminal suitable for merchants with a smaller turnover. For example, a home manufacturer, when selling his products at the market, will no longer have to let a customer pass just because he already spent all his cash."

To use vPOS, an entrepreneur needs a smartphone with Android operating system (9 or newer) that supports NFC technology and an Internet connection for this phone, and, of course, an account with Industra Bank and a contract for using vPOS.

vPOS allows to accept payments with contactless cards and payment-enabled smart devices such as smartphones, smartwatches, and wristbands. If necessary, the buyer can confirm the purchase with a PIN code. The merchant can issue an electronic receipt for the transaction to the buyer by sending it by e-mail or by offering to scan a QR code. The application is available in Latvian and English.

More about vPOS and other Industra POS terminals; application - by filling out the form.  

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