Establishing a small business requires strategic foresight, necessitating resilience and shrewd financial acumen. Small business owners and sole traders are tasked to determine an efficient use of resources and payment processes, including which Point of Sale (POS) terminals to adopt.
Armed with a keen understanding of these needs, Finance Incorporated Limited (FIL) has launched the Paymix SoftPOS app, which turns any Android device into a POS terminal that accepts all NFC-enabled cards and mobile wallets. Paymix SoftPOS was developed by FIL as a solution aimed to support local business owners who sell on a stationary or mobile basis. The company boasts the added benefit of having all expertise and customer services based locally in Malta.
Jurate Kajackiene, Vice President for Acquiring & Issuing Business Development at FIL, attests to Paymix SoftPOS’ streamlined, cost-effective, and easily maintainable system, adept at meeting the needs of boutique businesses and service-providers. The system is easy to use, she asserts, eschewing the traditional hardware and software tools typically involved in POS, which can be complex and expensive for start-ups, SMEs, and the sole trader.
Moreover, the onboarding process is 99 per cent automated, as well as intuitive and optimally structured. “Prospective clients can create an account in four easy steps - download the app from Google Play Store, sign up for an account, provide few details about their business and finalize with remote identity verification. Once the account is confirmed, client can begin accepting payments using their smart phone as a POS terminal,” Ms Kajackiene explains. “Our onboarding systems are streamlined, allowing us to verify or substantiate any information we receive from official databases, without having to ask our clients for endless paperwork,” she continues.
FIL’s Paymix SoftPOS is driven by the firm’s motivation to be the paragon in customer-centricity. “We are a boutique firm, and this allows us to operate in a lithe fashion, catering to the needs of our client-base and offering a personalised service, which prioritises human interaction,” Ms Kajackiene states, specifying that with Paymix SoftPOS, chatbots are replaced by one-to-one conversation with FIL’s dedicated staff.
In the next few months, Paymix SoftPOS will come with a full suite of services, including an e-wallet account and a Mastercard debit card linked to the account, for easy access of funds. “Envisaged for 2024 is the enabling of financing solutions to our merchants to assist with liquidity requirements, adapted to their specific contingencies and urgencies,” Ms Kajackiene outlines.
Indeed, while Paymix SoftPOS is the latest addition to several other payment applications already on the international market, FIL’s Malta-based ePOS contribution – which has already launched in Germany – differentiates itself from its competitors by offering local businesses a customer journey which is smooth, nimble.
“Small businesses such as hairdressers or bakers, for instance, often struggle with determining and establishing simplified payment processes, while having to contend with onerous banking procedures. Paymix SoftPOS helps shift their focus on growing their enterprises. These businesses are the bedrock of Malta’s economy, and our aim is to support them” Ms Kajackiene explains.
Customer support is available 24/7, with FIL boasting a team of knowledgeable specialists to provide assistance. The firm’s sales team also bring extensive years of industry and digital solutions expertise to the forefront, when handling each clients’ specific requirements. “In launching Paymix SoftPOS, our focus has been to respond effectively and efficiently to local businesses’ needs, and we are committed to addressing any enquiries they may have promptly,” Ms Kajackiene asserts.
The open communication FIL establishes with its business clients lies at the heart of decision-making at the firm. “We are providing discounted rates to the first 50 merchants to sign up with Paymix SoftPOS. Over the next few months, we will be gathering as much feedback as possible from our clients and partner, in order to further refine the product that will improve the experience of both the merchant and their customers. My personal conviction – and I know this is shared internally – is to provide real value to our clients, thereby contributing to the growth of the Maltese business community by creating meaningful and fruitful connections,” Ms Kajackiene says, concluding.
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