The objective of YouTransactor in this project was to propose a disruptive innovation in front of the mPOS model for micro merchants and traditional EFTPOS networks, addressing all size retailer market segment. This innovation called uCube2 aims to find the sweet spot between mPOS and EFTPOS business model:
- uCube2 will drastically reduce the cost of the Payment Card Acceptance service by proposing one price per transaction including the terminal and the infrastructure. Indeed, with a much lower cost of the payment solution means, banks will be able to build the business cases they need to facilitate credit card acceptance among small and medium merchants, opening up new opportunities in this market.
- uCube2 will propose a similar PoS experience than EFTPoS with a dedicated and robust payment terminal but which doesn’t need to pair with a smartphone and/or a tablet. The uCube2 solution has the ambition to address all size of professional merchants worldwide, including emergent countries. Acquiring banks that traditionally sell EFTPOS solution will consequently be willing to cross-sell uCube2 and thus they will expand their product portofolio for PoS market.
From a technological point of view, uCube2 project consisted in making the pre-studies of the core of the NanoPOS, the PCI PTS payment acceptance device, and its integration in a cost effective acceptance infrastructure based on cloud technologies. Beyond this technical key target, the project delivered a more detailed business-plan, supported by a deepened market study.
