IPOSUP.com aims to improve cashflow of micro-businesses via instant settlement of card payments
IPOSUP.com expects to launch pre-Christmas 2020 a new ECASH Account card payments settlement service for UK businesses. The new product based on blockchain ledger technology helps to solve one of the biggest challenges small businesses face: Managing cash flow.
IPOSUP.com is launching pre-Christmas its Android phone based “IPOS bric” and “IPOS soft” products to make accepting cards simple, fast and affordable for micro-, small- and medium-sized businesses.
Businesses (including new start-ups) can download and register on its free Google Play Store ‘iposup.com’ app. With the launch of ECASH Account, sellers can get their money into their ECASH IPOS WALLET account in seconds, 24 hours a day, whenever they accept card payments. The money can then be transferred into their own bank accounts within 30 minutes or the following day, seven days a week.
Dr Chandra Patni, CEO of IPOSUP.com said: “Major pain point for micro businesses is cash flow. Our products are all built to provide fast instant access to card payments processing funds to help businesses of all sizes remain liquid in current times of Covid19 crisis. We believe our merchants should have the ability to access their card payments money as fast as possible, so we’re excited to provide this new blockchain powered Instant ECASH Deposit service to businesses across the UK. This IPOS WALLET account also allows person to person ECASH transfers in seconds.”
Speed is a hallmark of IPOSUP.com IPOS WALLET app services. Businesses will use IPOSUP.com mobile IPOS WALLET app and get their money instantly into their Instant ECASH Account. With the launch of ECASH Account, sellers can now click a button in the IPOS WALLET app to get their funds transferred to other IPOS WALLET holders instantly or into their bank account within 30 minutes or the following day. All they need to do is self-register in the app providing user details and link their bank account to their IPOSUP.com IPOS WALLET account.
IPOSUP.com offers competitive, flat fees of 1.3% when taking in-person payments. Sellers using ECASH Account will be charged an additional 1% if they want their bank withdrawal transfer to be immediate, within 30 minutes or no charge if the bank transfer is set for the following day.
Dr Patni said: “Many micro-merchants trade on Fridays and at the weekends, and have to wait until the following week to get hold of their card takings and as business is often around 50 to 70% card payments, waiting for that money really affects business cash flow particularly at weekends. With ECASH Account and immediate bank transfer withdrawal, businesses can get money straight away, 24/7, and put it right back into the business.”
