Edinburgh tech firm Possavi unlocks new point-of-sale (POS) savings for retailers
Payment service provider Possavi has this week launched in Edinburgh – bringing retailers a new, low-cost point-of-sale system with one of the best transaction fees in the marketplace.
Possavi, in answer to industry regulator calls for the POS solutions market to work harder for retailers, will provide businesses with a more cost effective way to accept in-store card and mobile wallet payments. With low transaction fees the company’s well-timed POS system launch delivers premium technology without the expected price tag.
The POS system began its journey, with Annie Smith’s Jewellery Studio in Stockbridge serving as the first business to go live with Possavi. Four additional retailers located throughout Edinburgh will share the spotlight as part of the company’s city-wide launch campaign, including: Narcissus Flowers, The Cobbled Roastery, Mark David Salon and Craig Banks Tailoring. At the heart of each story is a deep sense of pride in the Edinburgh high street.
“Every retailer knows their business. But when it comes to point-of-sale systems, research indicates that many could be overspending without even realising it,” explains Possavi CEO Aravinda Korala. “Possavi is happy to address the growing need for change in the POS industry, particularly regarding price transparency. We’ve put all our cards on the table so that retailers know exactly what they stand to gain: premium POS technology but with one of the lowest fees in the marketplace.”
The service that Possavi provides for retailers includes:
- A modern, mobile, POS terminal with sleek touchscreen
- Next working day settlement for domestic card transactions
- No upfront or exit fees
- Terminal screens and receipts that can be customized with retailer branding
- Online portal for sales reporting and monitoring
Emerging from Scotland’s fintech community, Possavi has set its sights on Edinburgh business owners for the first phase of its launch. In the medium-long term, the company has ambitions to operate throughout the UK, before expanding into the European Union and beyond.
