RUBEAN Joins Visa Ready Program

- Merchants in Europe will soon be able to use Android(TM) smartphones to 
  collect money without any need for additional devices

- High demand expected from smaller dealers and traders
 

Munich, the 12. February 2020. RUBEAN AG (R1B:GR), Munich, has obtained Visa Ready approval (V:US) for its "PhonePOS" payment acceptance solution developed jointly with CCV Group BV, Arnhem (NL), after extensive examination. This means that by simply downloading the PhonePOS app, merchants can accept contactless card payments on their smartphone or tablet without any additional hardware.

The solution differs significantly in its simplicity from the legacy hardware-based payment acceptance terminals in the market. "Merchants will soon be able to accept payments using their own smartphones without having to purchase and use an additional device," says Dr. Hermann Geupel, CEO of Rubean.

Together with its partner CCV, RUBEAN has developed the PhonePOS solution and protected it with patent-pending security software. CCV's server systems ensure a high level of security and flexibility in the processing of card payments on smartphones. This makes CCV's decades of experience as a leading developer and marketer of conventional POS terminals an important competitive advantage for the new convenient and cost-effective payment solution.

RUBEAN estimates the number of potential customers in Germany alone, i.e. smaller retailers and traders, up to 3.1 million. (Source: Statista "Number of companies with up to 9 employees in 2017: 3,109,261 in Germany) and expects high demand for the
PhonePOS solution. After completion of the pilot project, which is currently in development, CCV and RUBEAN will offer the payment solution on a broad basis in the German and European market, with one of the largest financial organizations in Europe as partner.
 

About Rubean

The Rubean AG has been an established software manufacturer in the finance sector for 20 years. The company provides software solutions for a smooth communication with peripheral devices in German and Swiss bank branches. Meanwhile, Rubean AG is growing with the development of innovative mobile payment solutions, including the mobile Point-of-Sale terminal solution "PhonePOS" which has been developed in cooperation with CCV, and further, the patented RubeanTag technology which is connecting iPhones to contactless payment- and customer loyalty programs. Rubean has been listed on the Open Market of the Munich Stock Exchange since 2016.
 

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