RYVYL Inc., a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation capabilities to conduct payment transactions, today announced the launch of the coyni Mobile Point of Sale (mPOS) app, transforming iOS and Android devices into a payment terminal for secure, efficient transactions. The coyni mPoS app is now available in Beta mode for download in the Apple & Google store.
The coyni mPOS app provides merchants with a secure and convenient way to quickly add mPOS devices and users through a straightforward registration process to begin accepting payments. With the coyni mPOS app, businesses can easily turn a compatible Android or iOS smartphone into an mPOS terminal, allowing merchants to accept contactless payments in person and ensuring seamless and secure transactions. The coyni mPOS creates unique QR codes for contactless payments that customers can scan and pay, eliminating the need for merchants to purchase and manage card readers. The coyni mPOS solution is highly scalable to support a large number of terminals and users to be created and is capable of processing customized business rules including pre-defined percentages or dollar-based tips or consumer-specified amounts at the terminal level. Furthermore, the app delivers rich data insights and functionality including a detailed daily batch list of transactions, itemized sales and transaction history for the batch cycle, and refund capability directly from the batch list.
“We are thrilled to announce the launch of coyni mPOS, which is a testament to the future success of the coyni platform and our dedication to its continued growth. This aligns with our overall strategy of creating value and brings us one step closer to our vision of spinning off coyni," said Fredi Nisan, RYVYL’s Chief Executive Officer and co-founder. “By integrating mPOS capabilities with the coyni platform, businesses and merchants can benefit from a comprehensive and user-friendly payment system coupled with the rounded foundation of the next beta release of the coyni business platform. Transactions can be executed with confidence using reliable and secure blockchain technology with each coyni digital token held in a wallet on the platform matched with one U.S. dollar held in a custodial account with a federally insured financial institution. The coyni platform can be utilized by both consumers and businesses for a wide range of payment purposes.”
RYVYL Inc. was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business, and peer-to-peer payment transactions around the globe. By leveraging unique blockchain security and USD-pegged stablecoin technology with near real-time attestation capabilities, RYVYL is reinventing the future of financial transactions using its coyni® stablecoin platform as a transactional foundation. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity theft protection, and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants, and consumers around the globe.