The Paymagnet App
Install on your own phone to process payments, or notify your customers that they can install on theirs.
With Paymagnet, a physical card must be present to complete the transaction. So say goodbye to the headache of stolen card number fraud. With Paymagnet, you and your customers are safer.
Paymagnet works via the NFC readers in smartphones. Merchants don’t need to install a single NFC reader or POS terminal.
Get Paid Anywhere Since all you need to use Paymagnet is a smartphone, you can accept payments anywhere you can take your phone. Or install an NFC tag, and let your customers bring theirs
Paymagnet’s revolutionary system means customers must have their physical card to make a purchase—so no more stolen card numbers.
After a customer pays, Paymagnet will notify you of the successful transaction in seconds. Just like a full POS system.
You receive a unique paymagnet-ID which is encoded into NFC tags. Simply put these tags at any machine/terminal or place where you want to enable payments.
Now you´r ready to accept payments.
Every payment triggers a notification to be sent to you (merchant), and will instantly be shown in your account´s transaction history.
Paymagnet is a revolutionary new system which allows merchants to accept card payments using just an NFC-enabled smartphone. Anything you can do on a POS system, you can now do on a smartphone.
There are several options for using Paymagnet. A merchant can install the Paymagnet app on their own phone. A casino can allow players to install it on theirs. Or an airline can integrate it into their very own booking app or site. Whatever your situation, Paymagnet can work for you.
Before a transaction begins, the Paymagnet app has to know who to pay. If you’re using the Paymagnet app, we’ll supply a physical NFC tag—which can be scanned in in the app to identify you as the payment target. Or if you’re building Paymagnet into your own app, you can directly program your company as the target.
Once the payment target is identified, the customer taps their credit card on the phone that’s using Paymagnet. The phone’s NFC sensor reads the card data—and sends it via a secure framework to our processing backend.
Our backend verifies the card data, and once confirmed by the customer, transmits the money to you—all within seconds. You’ll receive an instant notification of payment—and you can approve the customer’s transaction immediately.
For accepting European cards
1,8%* 18c / transaction
For accepting American Cards
2.5%* 18c / transaction
Install on your own phone to process payments, or notify your customers that they can install on theirs.
Your Paymagnet app will be linked to our processing backend, which takes care of all the functions you’d normally need a POS for
You’ll get a dedicated interface to view your payments, transaction history, and other information.
If you have any queries about Paymagnet, or how it could work for your business, simply contact us using the form below and we’ll get back to you ASAP.
