Pomelo Pay is a platform that offers cutting-edge payment solutions to merchants and companies in order to help businesses to grow and develop. Using its infrastructure, the companies can increase revenue at lower expenses. Legal entities can create sales channels where they need with capabilities of QR for payments and contribute to high conversion rates in this way.
The company standing behind the platform was launched in 2018. It is headquartered in London, but has offices in other countries as well. In Series A funding the company raised 12.81M USD with the goal to fuel its global growth, expand to Asia, and develop further.
In 2019, the company started a partnership with the Bank of Maldives. It also expanded to Asia and opened a new office in Singapore. In 2020, the office in Vietnam started working.
Pomelo Pay highlights
The product presents a unified platform that perfectly serves financial institutions and enterprises. Being FCA-regulated, the company is absolutely secure and sticks to the industry standards in its activity. Authorities provided an e-money license to the platform. It means that the company can open accounts for its clients and provide them with their payment cards. Pomelo Pay is also PCI DSS Level 1 compliant.
The platform offers a full suite of payment solutions to prevent issues that may arise when companies accept or process payments. The main goal is to help clients to streamline their operations. For this, the team plans to release more products.
The team came up with the shop feature that offers small businesses to create an e-commerce platform fast. It also released payment links allowing businesses to accept instant payments remotely. Business owners highly assessed this product, taking into account that it was introduced during the pandemic.
It is not necessary to own payment terminals for businesses to accept card payments. The platform allows payments with smartphones. The system offers over 25 payment methods for businesses, including AliPay, BitPay, Google Pay, Visa, WeChatPay, Mastercard, Klarna, Apple Pay, and so on.
The system offers a Pomelo Pay app for remote payments. It is also possible to control the credit share with other personalities and monitor transactions. There is still much to improve in B2B transactions, as the company’s CEO Vincent Choi admitted.
It can be costly to rent or buy card reader terminals and then pay the fee up to 2% or even 3% per transaction. There are other drawbacks as well such as connectivity issues, restrictions to certain payment methods, and more. Instead, Pomelo Pay offers merchants to use QR codes that don’t require expensive equipment and can be scanned even with smartphones. The data is sent to a secure payment gateway, and then users can select the payment option they prefer. Also, the platform offers SoftPOS technology to accept customers’ payments. In this case, the smartphone is turned into a payment terminal. It is enough to download a mobile app to start using it.
Fees
The platform charges 1.49% per transaction. The fee is the same regardless of the amount.
How to connect to the service
The payment system is easily integrated with WooCommerce, OpenCart, and other popular payment systems. Merchants should download the app, and get access the merchant dashboard, where it is needed to enter the URL for webhooks in the Connect API v2.0
