We have witnessed the evolution of how we purchase items around us. From the days of cash as coins, then paper and plastic money to the latest NFC enabled payment methods, all seem to have eased things out one or the other. The evolution has come about as per the needs of the time, and lately the need for change has increased dramatically. One startup from Norway, mCASH, plans to bundle all payments into your mobile device.
NFC, non-NFC, credit or debit, why carry extra luggage or purchase a dedicated devices when it's dubious whether the point of sale would even accept it or not? While NFC might become a common method of mobile payments, I am not buying the idea, primarily for the fact not every region worldwide can implement the system. What mCASH does is liberate you of the task of getting yourself a new hardware or implement a new technology. Keeping it simple is what mCASH focuses on, why burden merchants and clients with excessive burden?
When a customer is shopping, they can find a list of supported mCash merchants on the mCash app. The customer can mark what they want to buy on the phone, then pay for it instantly from their bank account, or line of credit. So how exactly does mCash help?
Connect with Customers: Communicating is the most vital part of any business. You have special deals, coupons or discounts all waiting to be used but customers are either not aware or can’t avail the same for one reason or the other. mCASH lets you get one on one with customers on their mobile devices, enabling them to learn about latest offers and deals.
Ease of Use: As already mentioned, none of your customers need to purchase or own a new device. mCash offers mobility, meaning you reduce the risk of invoicing, get paid on the go and even manage teams to receive payments. Each of the payments made are associated to your company’s bank account, ensuring that whatever transactions happen, are secure.
mCASH can also be integrated within your existing POS software. This enables you to send digital receipts to your clients. The automation also helps you keep track on points and coupons as well as create special offers.
Added to these benefits is the “person to person payment”. This lets you make payments to any mobile device for free as well as utilize your mobile device as a payment terminal in itself. To do so, you just need to find your friend's phone number from your contact list. The following table lists the major advantages of mCASH:
The startup was founded by Daniel R. Döderlein who is also the CEO and Chairman of the board. Daniel is a business entrepreneur with vast experience in the telecom sector. He is seconded by Helge Tesdal who is the CTO and specializes in the field of databases. Helge is also a member of the International developer team behind the leading open source CMS service named Plone. You can view the entire team details here.