Retailers face daily challenges related to high costs of digital payments (card-based), the complexity of payment systems, and limited customer payment options. IRIS Solutions offers an innovative solution – IRISPay, a mobile app for cardless payment acceptance.
With IRISPay, retailers can save up to 60% on payment processing costs, while customers can make purchases conveniently, securely, and without the need for cards.
Key Challenges for Retailers
High Transaction CostsCard payments and the necessary physical or virtual POS terminals are expensive and significantly reduce retailers’ profit margins.
Time-Consuming ProcessesManaging and reconciling payments takes time and complicates retailers' operations.
Limited Payment Options for CustomersCustomers increasingly expect modern and convenient payment methods for small, medium, and large amounts, which traditional POS terminals often cannot accommodate.
Delays in Receiving FundsCard payments often result in funds being credited the next day, or even weekly with some payment service providers. With IRISPay, funds are transferred within 10 seconds through instant payments (Blink) or as part of a standard bank transfer.
Issuing Cash ReceiptsMaintaining a cash register is an unnecessary expense in today's digital age, which can be avoided with innovative solutions.
The Solution: IRISPay – The Smart Digital Payment Solution
Simple Payment Generation
In just two steps, retailers can create a QR code for payment through the IRISPay for Merchants mobile app, available for Android and iOS.
Significantly Lower Fees
Thanks to Open Banking technology, transaction fees are considerably lower than those for card payments.
Fast Fund Transfers
Funds are transferred directly to the retailer’s bank account within 10 seconds or as part of a standard bank transfer.
No Additional Fees
IRISPay does not require integration, subscription, or monthly fees. You only pay for successfully completed transactions.
Choice of Bank Account
Funds are credited directly to the retailer’s chosen account without the need to open a new one.
No Need for Cash Receipts
Payments via IRISPay are direct bank transfers from the customer’s account to the retailer’s account and are not subject to the requirements of Regulation N-18.
Easy Integration with Online Stores
Retailers can easily integrate the service into their e-commerce platforms.
Benefits for Customers
Fast and EasyCustomers can pay with just 4 clicks or via biometrics through their banking app.
No Payment LimitsIRISPay allows payments for purchases of any value.
No Additional Apps NeededPayments are made directly through the customer’s banking app.
Top-Level SecurityIRISPay complies with the strict requirements of PSD2 (Second Payment Services Directive) for payment security. Payments are processed within the customer’s bank environment, ensuring no sensitive data is shared with the retailer or IRISPay.
Our Advantages Over Standard POS Terminals
More cost-effective than any POS terminal or card-based payment (Google and
Apple Pay).
No turnover requirements.
No minimum transaction requirements.
Instant payments – funds are credited to your account within 10 seconds.
Simplified and transparent pricing structure.
Transaction fees are calculated as a percentage of your total monthly transaction volume.
Ready to Offer a Modern Solution to Your Customers?
How Does IRISPay Work?
📹 Watch our demo videos to see how IRISPay can optimize your business!
Make payments using the IRISPay QR Code:
Generate a QR code:
Who Are IRIS Solutions?
IRIS Solutions ("IRIS Solutions" Ltd.) are pioneers in providing innovative, secure, and user-friendly financial solutions. We are a payment institution licensed by the Bulgarian National Bank (BNB). Under this license, the company is authorized to offer payment initiation services and account information services.
Since 2024, we have been operational and have integrated with over 70 banks and financial institutions across Southeast Europe. This allows us to deliver our services and products in Bulgaria, Romania, Greece, Croatia, and Cyprus, making us a trusted partner for businesses in the region.
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