Dream Payments works with banks and merchant acquirers to help businesses process payments and track operations. Its specialized mobile point-of-sale (mPOS) terminal, combined with a free mobile app, enables merchants to accept cash, credit, or debit card payments. This, coupled with Dream Payments’ sales insights and analytics, offers an end-to-end solution that is magstripe, EMV, and NFC compatible.

Merchant acquirers and banks can guard against disintermediation from alternative payment platform providers by offering the Dream Payments mPOS on a white-labeled basis.

Company facts:

• 20+ employees
• Raised $6 million in seed funding
• Based in Toronto, Canada
• Founded in 2014

The payment experience

Using the mobile app, the merchant selects the item the customer would like to purchase, or manually enters the amount to charge. After entering the quantity and payment method (cash, debit, or credit), the merchant selects pay.

Once the device is authenticated and the transaction is validated, the customer receives a digital receipt via email, SMS, or a hard copy from a bluetooth printer.

Because of the upcoming liability shift, Dream Payments offers an EMV option. While EMV-compliant POS terminals typically cost $250 to $1,000, the Dream Payments hardware costs $50 for the device and comes with a free mobile app that works on multiple devices.

Dream Payments works with NFC payments such as ApplePay

Merchant dashboard capabilities

The Merchant Dashboard for business clients enables them to view their transaction history, reissue receipts, and process returns. Similar to the mPOS, banks and merchant acquirers can tailor this administrative view to match their brand.

The dashboard serves as a toolbox for merchants to manage and track sales, view deposits, as well as adjust POS settings. They can, for example, add and adjust user permissions, create and review sales reports, and manage customer receipts.

For banks and merchant acquirers

Using the Operation Portal, banks service multiple merchant client accounts. The portal provides a tier 1 and tier 2 support tool. It offers a high-level view of all merchants and their basic profile information, along with a complete list of each merchant’s transactions.

The Operation Portal also enables banks to activate, deactivate, and manage the merchants’ EMV card readers.

Dream Payments debuted at FinovateSpring 2015 in San Jose.