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Fintech Phos announces software-only POS system for contactless payments

Phos, a fintech startup, has developed what is believed to be the first software-only POS system that allows processing of contactless payments using an NFC-enabled android phone, according to a report in

Phos is working with Mastercard to help support its Tap on Phone feature with its software-only POS and transform handsets into payment acceptance devices.