The Future of Business Payments: Faster, Cheaper, Smarter
More and more merchants recognize the need for fast, secure, and cost-effective payment solutions. Traditional POS terminals and card payments are often expensive and complex, creating demand for alternatives. IRIS Solutions offers exactly such a solution through IRISPay for Merchants—a mobile application that removes the need for costly equipment and provides a more efficient way to manage banking transactions.
Today, we speak with Mihael Mihailov, Chief Operating Officer at IRIS Solutions, to learn more about the application, its advantages, and the key factors that contributed to its development.
What motivated you to create IRISPay for Merchants, and what were the main challenges you aimed to solve with this application?
- The high cost of traditional card payments.
- The slow speed of transactions and payment settlement.
- The security and convenience for merchants and their customers.
How did you decide to work with BoroBit for the development of the application?
How would you evaluate the collaboration between your team and BoroBit?
With our colleagues at BoroBit, we achieved an exceptionally high level of synchronization throughout the collaboration. From the very beginning, it was evident that we were working with a team that possesses the necessary technical expertise and a customer-centric approach to every decision. The BoroBit team demonstrated remarkable flexibility and the ability to adapt to the dynamic requirements of the process, always striving to find the most optimal solutions to emerging challenges.
How did BoroBit’s Mobile App as a Service platform streamline the development of the application?
The development process was quick and efficient because we leveraged BoroBit’s ready-made infrastructure instead of building everything from scratch. Their Mobile App as a Service platform enabled us to launch the application much faster, allowing us to focus solely on its specific functionalities. For us, this meant significant time and resource savings.
What are the key features of IRISPay for Merchants?
IRISPay for Merchants is an extremely user-friendly and easy-to-use application with a sleek and intuitive design, allowing merchants to quickly and effortlessly carry out the necessary actions to achieve their business goals. At the same time, the solution provides comprehensive details on all completed transactions.
What do you think sets the application apart from other similar solutions on the market?
There are not many similar solutions on the European market, and in Southeast Europe, there is certainly no equivalent alternative.
What feedback have you received from your customers about the application?
The solution is relatively new, but it has already received a lot of positive feedback from the market. Of course, we also receive suggestions from our customers, for which we are grateful. We carefully analyze both the collected market data and best practices, planning the application’s development over the coming years to provide businesses with a fully functional financial tool that enhances their daily operations and financial performance.
What results have you achieved so far with IRISPay for Merchants?
The application and the service based on it are still in their early stages, but the market feedback has been extremely positive.
How has the application changed the way your clients manage their payments?
IRISPay for Merchants enables merchants and their employees to generate a payment QR code with just one click, allowing their customers to make fast and easy payments directly from their bank accounts.
What are your future plans for the development of IRISPay for Merchants?
The application will continue to evolve based on customer demand and best practices observed in the European and Asian markets. Of course, we have many ideas, but every step will be taken after careful analysis and preparation. Our dream is for IRISPay for Merchants to become the go-to business app for every merchant, not just in Bulgaria 😊.
IRISPay for Merchants is an excellent solution for any business looking for an efficient way to accept payments without card fees or expensive terminals.
For more information about IRISPay, visit the official page of IRIS Solutions.
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