Mobile point of sales solutions (mPOS) provider, Paynear Solutions Pvt Ltd, is targeting to distribute 20,000 devices in the current financial year.

“We have got encouraging response to our mPay solution since its launch last year and are expecting some traction in distribution of devices this year,’’ Chief Executive Officer Priti Shah told Business Line .

mPay is a mobile point of sale solution designed for merchants and business of all sizes and verticals. This allows merchants to accept credit/debit cards anywhere, anytime through their smart phones, tablets and PCs.

The mPOS device, being imported from Poland, will be uploaded with applications in seven regional languages to facilitate payment transactions. “From small e-kirana shop owners to big business houses can use this device for accepting card-based transactions after downloading the required software on their mobile,’’ she said.

The revenue model for the company is based on a monthly rental of about ₹300 to be collected from the users in addition to a one-time installation fee of ₹2,500. The start-up firm, which is already operating in Mumbai, Chennai, Begaluru, Hyderabad, Pune and Salem among others, will be focussing more on tier-II locations, according to Anil Bharadwaj, Chief Commercial Officer, Paynear Solutions.

“We are the only one in the market to provide applications in regional languages and that will be our strength going forward,’’ he claimed.

The company is also in the process of sealing an investment deal, he said adding that details could be revealed in a month or two.

“We are on the expansion mode and investments will be in technology development, devices and also marketing/support operations,’’ Bharadwaj said, adding that the number of employees will also go up from 100 to 250 by March 2016.

In addition to mPOS, Paynear is working on launching mKiosks and e-Payments gateway shortly.

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