Santander launches an app for micro-businesses to charge from their cell phones without the need for a POS

Despite the fact that cash continues to be the main means of payment, there are more and more options for businesses, especially micro, small and entrepreneurial ones, to be able to collect by accepting credit cards.

Santander Mexicovia Getnethas announced this Tuesday that as of next January, it will launch (in a general way) an application so that, with technology contactlessmore businesses can charge by card, without the need to have one Point of Sale Terminal (VAT).

Figures released by the financial institution indicate that today there are 1.4 million bank POS terminals installed, and another 2 million collection devices from other entities, in addition to the fact that there are more than 153 million cards on the market.

Even so, he pointed out, about 50% of businesses in Mexico do not have the infrastructure to accept card payments.

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“What we are looking for is that cashless payments can reach businesses, entrepreneurs, micro-entrepreneurs, and at an affordable cost and that it is not only for Santander customers, it is for the entire industry, it can be cards from other banks and bank accounts. capture also from other banks”, Andrés Araiza, executive director of means of payment of Santander México, commented in a conference.

Fabián Ferrari, general director of Getnet, explained, for his part, that between now and December of this year, the application is in a pilot test with some selected clients, but that in all of 2023 the goal is that 100,000 entrepreneurs already have this alternative collection.

“We are convinced that the Mexican market will adopt it, mainly individuals with business activity, professionals, entrepreneurs, and with this solution they will be able to start receiving payments in a much simpler way than it is currently being done,” he said.

Monthly fee, no commission

One of the advantages of this alternative over others is that no transaction fee is charged, but rather a monthly fee.

The Santander director explained that this will range from 50 to 150 pesos, depending on the number of transactions carried out, and the proceeds from the sale will be reflected in the client’s account statement the next day.

Currently the terminals, every time a transaction is made there is a discount commission, and our mobile payment solution will have a fixed monthly membership fee”, he pointed out.

He stressed that this seeks greater financial inclusion and reduce the use of cash in the country.

How does it work?

Ferrari explained that it is about charging without a POS, just downloading the app to the cell phone or tablet and registering an account to which the resources will go. Once it is downloaded, it will be possible to pay only by approaching the card that must have contactless technology, or any other device that has this feature.

“In this way we break the market and demonstrate that technology can be used so that the lady who sells tamales on the corner and who was not used to receiving payments, can now download our application and with our application begin to receive her first payments with card. What we are doing is turning phones and tablets into a point of sale and we do it through a secure app, ”she explained.

He added that this is the first solution of its kind in the country.