The company has also invested €2M in Phos which will help it to expand its services in the US as well as grow its development team.
The news follows CM.com’s recent acquisition of POS payment acceptance platform PayPlaza in March 2021. This partnership and investment in Phos will enable CM.com to offer omnichannel communications and payments solutions from one single platform.
What does Phos offer?
Phos was founded in 2018, and it has developed a Software only Point-of-Sale (SoftPOS) technology that allows merchants to take payments directly on their NFC enabled Android device. The company says no additional hardware or maintenance contracts are necessary.
Payments via SoftPOS are easy: Customers simply have to hold a card or a phone at the back of the merchant’s Android device, then safely enter their PIN on the device or approve the payment via Apple Pay or Google Pay. CM.com’s app along with the technology of Phos will support payments above €50.
The application is certified by VISA and Mastercard laboratories for functionality and security.
How will Phos help CM.com?
In a statement, CM.com mentioned, “This technology suits the event and hospitality sector perfectly.” The Dutch company will use SoftPOS at the upcoming Dutch Grand Prix on 5th September, 2021 – the first cashless event at this scale.
Since SoftPOS is scalable and relevant across industries, various cash-register software companies have already integrated CM.com’s app to help large retail chains cut down queues for their customers. The app enables sales representatives to conduct payments on the spot in aisles. The company also sees the opportunity for taxi drivers or delivery services.
Speaking on the development, Jeroen van Glabbeek, CEO of CM.com, says, “Mobile payments are the future as we move towards a cashless society. Thanks to the partnership with Phos and our drive to innovate, we can provide a mobile payment solution that is affordable, easy to use and therefore accessible for merchants of all sizes. SoftPOS boosts contactless and mobile payments and is set to disrupt the payments market – as seen in the recent acquisition of Mobeewave by Apple.”
Founded in 1999 by Jeroen van Glabbeek and Gilbert Gooijer, the company connects people and businesses via telecom operators, worldwide payment providers, and messaging channels. It is a listed company (Euronext Amsterdam: CMCOM) and provides conversational commerce services from its cloud platform.
CM.com provides messaging and voice channels such as SMS, Over The Top (OTT) (e.g. WhatsApp Business, Apple Business Chat, Google RCS, Facebook Messenger, and Viber), Voice API, and SIP. These messaging channels can be combined with cloud platform features, like Ticketing, eSignature, Customer Contact, identity services, and a Customer Data Platform.
The company currently employs about 550 people in 20 countries.