Are you a small business dreaming about an off-the-shelf EMV mobile point-of-sale solution that accepts everything from Interac debit to chip-and-PIN cards to contactless payments?
Well, if you are a Canadian small business, you’re in luck: Dream Payments has teamed up with TELUS to bring EMV-ready mPOS technology to retail merchants in Canada.
Dream Payments CEO Brent Ho-Young noted both cost and quality in talking about his company’s technology compared to the status quo. “For far too long, small businesses in Canada have been forced to choose between insecure magstripe card readers or purchase expensive EMV payment terminals with monthly fees,” Ho-Young said. “That stops today.”
From left: Dream Payments Chief Operating Officer Anant Tailor and VP of Business Development Christian Ali demonstrated Dream mPOS at FinovateSpring 2015 in San Jose, California.
The solution, Dream Mobile Point of Sale (mPOS), consists of an mPOS app for Android and iOS devices, along with a Bluetooth-enabled EMV credit and debit reader powered by the Dream Payments Cloud. The solution allows merchants to accept payments and issue receipts, as well as manage product catalogues and monitor sales in real time. Dream mPOS also comes with an online dashboard where business owners can create reports, study analytics, and more, right from their smartphones.
The card reader is available through TELUS for $100. Interac debit-card transactions have a processing fee of $0.25; Visa and MasterCard credit transactions have a fee of 2.75%.
Founded in June 2014 and headquartered in Toronto, Ontario, Canada, Dream Payments previewed its Dream Mobile Point of Sale (mPOS) solution at its Finovate debut at FinovateSpring 2015. The company has total capital of $6 million courtesy of a fundraising in March.