There’s a new face in the capital with fintech startup NuPay getting ready to unleash its contactless POS for businesses.
The firm is offering a reader for iOS, Android and terminals. This reader – a stylish and sleek-looking device – allows users to take small payments with a tap of a card.
NuPay explains: “One app. One device. Zero stress.”
The London-based entity is the creation of Funfere Koroye and Roosevelt Elias. Their experience is a useful mix of tech and leadership roles. Koroye is the Co-Founder & Chief Product Officer at Nupe Studios Lab and VP of Technology & Engineering at CradleHealth. While Elias is Co-Founder and Creative Head at DEFT Digital.
NuPay’s website states it is primarily designed for the self-employed in the Third World, who require tools for validation and verification of their business activities.
However, Koroye tells eWeek UK that its product is also for the UK/EU market.
The firm has a waitlist at present but its ambitions are clear.
The fintech startup states: “At NuPay we believe everyone, regardless of gender and pocket size, should have access to fintech services. That’s why we make opening an instant mPOS money wallet as easy as we can for MSMEs while providing security for their funds.”
Its site has a waitlist at present but the plan is to let users pay with contactless, link or chip and pin, depending on the transaction sum.
In terms of NuPay’s reader, Bluetooth connects it to an Apple or Android device wirelessly. Users can then can accept card payments anywhere by using the free NuPay point-of-sale app.
NuPay joins a lively B2B payments market in the UK as many companies are keen to tap into the fintech craze.
For example, there have been four recent startups popping up – with three of the stories being scoops.
Saltare was out to show courage and industry as it powered up in Bristol to offer B2B payments.
Manchester-based fintech startup Payful is getting ready to launch as it plans to tackle late payments and fraud through data and payment performance scoring.
Kent-based fintech startup Toonie has unveiled its app to provide micro payments and business promotions among local communities and merchants.
Over in Lancashire, new fintech company Vendreo arrived on the UK’s tech scene to offer payments for merchants.