In 2012, being inspired by the changes in the legal framework in Europe, Christo and Javor - the founders of myPOS platform, saw the opportunity to use the know-how and resources of their 500-member team from iCard to create a new tailor-made platform offering more affordable payment services for small and medium merchants. The new platform, named myPOS, has been designed as an all-in-one solution solving the major problems of the SMEs related to card acceptance and other payments. As the founders describe it in one sentence,
myPOS is a next generation payment platform helping those in the gig economy or running seasonal businesses to succeed, while avoiding monthly fees, bank charges or cash flow concerns when accepting card payments.
Two years later, in 2014 at the Mobile World Congress in Barcelona, Spain, Christo and Javor officially presented the first platform offering instant settlement (instant deposits) into the merchant accounts for transactions made both on-line and on a POS terminal. Integrating a free settlement account and payment business card, myPOS eliminated the delays in settling funds for the merchants and paved the way for a new generation merchant service.
In 2015, myPOS launched its distribution in Italy and soon covered another 5 countries, including United Kingdom, France, Belgium, Netherlands and Switzerland. During the following two years myPOS expanded into all countries in Europe. It also developed further by adding more hardware options, payments methods and merchant specific functionalities which have been readily accepted by clients.
In 2017, myPOS was completely spun off into a new group of companies with their headquarters in London, United Kingdom. myPOS Europe Ltd. licensed by the FCA as an E-Money Institution, as part of the group, is offering the merchants accounts and financial services.
To stay close to its customers, the management team decided to open experience centres where everyone can learn how myPOS helps businesses grow by the use of new payment technologies.
In February 2018, the first myPOS Store was opened in London, at 36 Knightsbridge, and there are five more scheduled to open by the end of the year in major European cities.
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