Digital Magics Launches Virtual POS Provider Solo

soloSolo, a Milan, Italy-based fintech startup developing a virtual POS, has launched with the support of AIM market listed venture incubator Digital Magics.

Created within the Digital Magics LAB, by Orlando TM Merone, Leonardo Grasso, Leonardo Di Donato, Antonino Visalli and Lorenzo Fontana, Edoardo Raimondi (CEO), Francesco Arnone and Roberto Ungaro, Solo (acronym of social local shopping) offers a software service for professionals, traders and SMEs to receive payments with credit and debit cards from any device – PC, smartphone or tablet – by sharing a short link, with no registration for the customers, no app to download and no hardware to install.
Users can send a link from their merchant’s profile page – via e-mail, SMS, message on social networks, QR code or NFC tag1 – to their customers, to let them pay directly there. The service keeps a percentage fee of 2.5% + € 0.25 for each transaction.

The technological platform – developed in HTML5 – requires no additional hardware to be connected, no app to be downloaded and no registration for the user who has to make the payment.

According to a note, the founders hold a 65% stake in the company while Digital Magics owns the remaining 35%.



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