Phos Cloud

Phos provides a software-only Point of Sale (SoftPoS) solution that transforms NFC-enabled Android devices, such as smartphones and tablets, into secure payment terminals without requiring additional hardware. The company was established in 2018 by Ivo Gueorguiev, Antonina Martinova, and Valeri Valtchev. The founders, who are also behind the e-money service provider Paynetics and digital wallet Phyre, identified the opportunity to leverage smartphone technology for payment acceptance, expanding on their experience with mobile payments like ApplePay in Bulgaria.

The company's primary offering is a technology that enables merchants to accept contactless payments via cards (Visa, Mastercard), digital wallets (Apple Pay, Google Pay), and QR code-based methods. This addresses the need for small merchants and 'solopreneurs' to adopt digital payments without the cost and complexity of traditional POS hardware. For larger enterprises, the solution is applied for in-aisle payments, queue busting, and payments for field services, providing greater mobility and a streamlined checkout experience. Phos operates on a business-to-business model, targeting banks, acquirers, payment service providers (PSPs), and independent sales organizations (ISOs). Its solutions are delivered through several flexible models, including a ready-to-market branded app, a white-label version for partners to customize with their own branding, and a software development kit (SDK) for integration into existing merchant applications.

Phos achieved significant milestones, including securing a €1.3M seed round in March 2020 and a €2M corporate round in August 2021, which facilitated its expansion into the US market. The company has obtained certifications from both VISA and Mastercard laboratories for its security and functionality. A pivotal moment in its history occurred in March 2023, when it was fully acquired by Ingenico, a global leader in payment acceptance solutions. This acquisition integrated Phos into Ingenico's Payments Platform as a Service (PPaaS) ecosystem, aiming to accelerate the global adoption of SoftPoS technology and enhance Ingenico's software-driven service offerings.

Keywords: SoftPoS, software point of sale, tap to pay, contactless payments, mobile payments, payment terminal, NFC payments, payment acceptance, payment orchestration, mobile POS, digital wallet acceptance, white-label POS, payment SDK, fintech, acquirer solutions, payment service provider, ISO solutions, card not present, Ingenico, merchant services, retail payments, in-aisle payments, queue busting