SOLO is the virtual POS that allows any merchant from the 23 countries in SEPA that adopt Euro as principal currency to accept credit and debit cards payments without having to swipe the card into a physical device, as the traditional POS does. The merchant shares his public and verified profile with the customers, who can easily pay from any device: smartphone, tablet or computer. The benefit? No app and No hardware. No fixed costs and no monthly fees. Only 2.50% + €0.25 for each transaction when you get paid.
SOLO’s mission is to tear down POS adoption barriers for merchants who currently face the bureaucratic and economic limits in the adoption of a bank lease POS. Traditionally the Italian market is cash payments dominated, unlike other EU Countries. We believe that SOLO represents a huge opportunity for Italy to favor non cash transactions.
SOLO the virtual POS for the local social shopping won the first place in the Grand Final InnovAction Lab 2014 at the Auditorium Conciliazione in Rome, judge by the European Investors community leading members. InnovAction Lab is considered one of the 5 global major success cases in the field of entrepreneurial training. In its 4 years of activity, from 2011 to today, it has given life to over 36 start-ups funded by private investors and venture capital investment funds.
National Prize for Innovation 2015
SOLO - the virtual POS easy for everyone - was awarded by Confcommercio (the most extensive association of retailers in Italy) with a special mention for "having developed a web payment solution that lets merchants and professionals accept electronic payments by smartphones and other devices, without having to swipe cards into any physical PoS while bringing several advantages in terms of higher efficiency and lower management fees"
Springboard Award - UK-Italy Business Awards
SOLO has been also awarded by UKTI Italy during Business Award – Innovation Springboard Award as one of the three most promising fintech startups in Italy. The award cerimony was hosted at Palazzo Mezzanotte, headquarter of Milan Stock Exchange. SOLO was given the Innovation award by the Mr. Prentice, Her Britannic Majesty’s Ambassador Extraordinary and Plenipotentiary to the Italian Republic, and by Mr. Tim Flear, General Consul and UKTI Italy director. The same ceremony also awarded established top-class italian brands as Exor, Scavolini, Yoox Net-a-porter, Prada and more.