CM.com acquires minority stake in fintech Phos

To further enhance this cooperation, CM.com invests € 2 million in the UK-based fintech company. The investment allows Phos to expand into the US and make new hires in its development team.

SoftPOS

SoftPOS allows merchants to easily convert their Android device (PDA, smartphone of tablet) into a secure payments terminal. No additional expensive hardware or maintenance contracts are necessary.

Payments via SoftPOS are easy: Customers hold a card or – if paying with Apple Pay or Google Pay – a phone at the back of the merchant’s Android device. In contrast to other market players, CM.com’s app with the technology of Phos also supports payments above € 50. Customers can safely enter their PIN on the merchant’s device or approve the payment via Apple Pay or Google Pay. The application complies with the highest security standards of VISA and Mastercard. This will lead to less cash, quicker and safer payments.

Dutch Grand Prix

As this technology suits the event and hospitability sector perfectly, CM.com will use SoftPOS at the upcoming Dutch Grand Prix. It enables this event to be the first cashless event at this scale. SoftPOS is scalable and globally relevant across industries. Several cash-register software companies have already integrated CM.com’s app to help large retail chains in their quest for queue busting. The app enables sales representatives to conduct the payments on the spot in the aisles. Next to the retail, hospitality and the events sectors, we see ample opportunities for taxi drivers or delivery services.

Jeroen van Glabbeek, CEO CM.com: “Mobile payments are the future as we move towards a cashless society. Thanks to the partnership with Phos and our drive to innovate, we can provide a mobile payment solution that is affordable, easy to use and therefore accessible for merchants of all sizes. Simplifying the payment process not only for merchants but also for their customers, SoftPOS boosts contactless and mobile payments and is set to disrupt the payments market. SoftPOS’ market potential is huge as can be seen in the recent acquisition of Mobeewave by Apple.”

Omni-channel communications and payments

Following the acquisition of POS payment acceptance platform PayPlaza in March 2021, the partnership and investment in Phos is a next step for CM.com to offer omnichannel communications and payments solutions from one single platform.