RewardlyPAY SoftPOS does not require any specialised payment hardware to accept credit card payments. You can utilise the SoftPOS solution directly on your Android phone to turn it into a payment terminal and start receiving payments.

MAS regulates RewardlyPAY and fully complies with the PCI-DSS framework administered by our payment acquirer partner.

HOW TO GET STARTED
 
A GMS-certified Android Phone running Android 10 or above
The Android Phone must be equipped with an NFC reader
Apply RewardlyPAY account at https://pay.rewardly.app
Download the Rewardly POS app from the Google Play Store (Direct APK installation is not allowed)
 
RewardlyPAY Application
 
Singapore-registered business with a valid UEN
Local Director or decision maker with valid local residency status
Local Bank account in Singapore Dollar currency
Application process may take up to 7 days, depends on the readiness of the necessary documents
 
WHAT'S NEXT
 
Upon application submission, you will receive an email with instructions to furnish supporting documents
After the submission of documents, your application will be evaluated, and the outcome should be ready in 2~3 days
Once your application is approved, we will update the credit card payment method in your Rewardly POS account, and you are ready to sell and accept payment
You can trace your payment transaction record from the RewardlyPAY portal
Credit card payment will incur an MDR rate; depending on your trade, the MDR rate will be different
 
WHY DO I PAY FOR MDR?
 
MDR stands for merchant discount rate, the fee charged on every credit card transaction. Unlike cash or a debit card (NETS), a credit card allows the shopper to spend the money without any collateral. The risk of default and the convenience of improving the sell-through rate are the main reasons merchants are paying MDR fees.

BENEFITS OF CREDIT CARD PAYMENT
 
Faster transaction (+10% ~ 30%)
Higher conversion rate (+ 5% ~ 10%)
Rich data insight (2x more data)