Fintech & Ecommerce

Armenian Ardshinbank Enables Merchants to Accept Payments on Android Devices

DigiPOS solution from Ardshinbank supports payments via contactless credit and debit cards as well as mobile wallets such as Apple Pay and Google Pay

Ardshinbank

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Armenian Ardshinbank launched a SoftPOS solution that enables local merchants to accept contactless payments on Android smartphones, tablets and other devices supporting NFC technology.

The solution gives SME owners and individual entrepreneurs enhanced flexibility in receiving payments quickly, conveniently and safely. Besides, the digiPOS solution supports various payment means including credit and debit cards, Apple Pay and Google Pay.

To turn one’s phone or tablet into a digital payment terminal, merchants in Armenia need to download the Ardshinbank digiPOS application. The device should use Android 8.1 or newer operating system and have NFC technology enabled. Once you download the app, you can register and apply to activate digiPOS users.

Merchants may activate digiPOS at a bank branch or apply online. Ardshinbank specialist will contact the applicant, answer all their questions and organize the whole process.

SoftPOS is a perfect solution for accepting contactless payments on a smartphone without any additional hardware. This revolutionary technology helps small business owners to generate sales cost-effectively. Therefore, SoftPOS is growing at a fast pace. The number of SoftPoS terminals is expected to grow from 3.1 million worldwide in 2022 to almost 12 million in 2027.

In Armenia, SMEs account for the vast majority of active businesses (99.8% in 2017). At the same time, the share of the added value produced by super small, small, and medium-sized enterprises for the total GDP of Armenia was 23.6% in 2018.

Being one of the priority directions of economic development of the Republic of Armenia, the Small and Medium Entrepreneurship (SME) sector would greatly benefit from innovative SoftPOS solutions as they allow to cut costs and simultaneously diversify revenue sources.

As we have previously reported, the payments acceptance solutions provider Ingenico has acquired a 100% stake in one of the leading SoftPOS providers Phos, extending its offer for merchant payment acceptance via smartphone.

Nina Bobro

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https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.