GoPago becomes PaaS provider

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GoPago a cloud-based mobile payment app backed by JPMorgan Chase, introduces GoPago LIVE, a system that replaces merchants’ cash registers with sleek, 4G-enabled tablets and POS software.

Having mastered the cloud with its mobile app, GoPago LIVE marks the company’s evolution into a payment-as-a-service (PaaS) provider. GoPago is taking aim at its larger competitors: Square Register and NCR Silver. But GoPago LIVE is the world’s first PaaS that is 100% free, allowing cash-strapped neighbourhood merchants to compete on a level playing field with big chains.

“The payment-as-a-service (PaaS) platform is a new trend we’re watching as nearly half of merchants are unable to manage all the requirements of new hardware, payment transaction load, throughput, and processing requirements via their networks,’ explains Sahir Anand, vice-president and research group director of Aberdeen Group.

‘There are a lot of heavy hitters out there, and it’s a crowded space. GoPago is taking aim at potentially assisting merchants with a unique business plan to give away the POS for free. Their partnership with JPMorgan Chase and Verizon gives GoPago the opportunity to provide PaaS with a free tablet-based POS, mobile ordering and loyalty programs, plus a focus on customer service.”

GoPago’s business model is a game-changer for neighborhood merchants, because GoPago LIVE earns revenue when they do:

  • Traditional enterprise POS systems can cost merchants $10,000 in hardware/software, installation and service fees.

  • App-based systems require tablet purchases ($400 – $619), and many charge monthly fees. Often merchants must configure their own systems with no tech support.

  • Instead, GoPago provides all equipment and tech support for free. Merchants only pay a fixed 2.85% credit card transaction fee.

    LIVE is delivered to merchants as “your business in a box”: all the hardware they need, all connected, plus a single interface for mobile and in-store purchases. LIVE’s automated system provides real-time data analytics, so merchants can spot behavioral trends and adjust inventory accordingly.

    “We think GoPago LIVE will turn the payment industry on its head. This is so much more than POS. It’s a total solution for brick-and-mortar business owners. We’re redefining and resetting the bar for modernizing business payments and loyalty programs,” says Leo Rocco, CEO,GoPago.