CVC Spin OffNews

Payment terminals: chronicle of a death foretold

Orain – mobile payment method
Credit: Orain Technologies

Post Author: Orain Team. Originally published in Spanish here.

Nowadays, in a highly connected, sensorised and technological world, it is surprising to see how certain technologies of past times are still in vogue. Traditional payment terminals are one of them. Mantaining these old systems within the market is sign of an immobile and non-agile economy, anchored to older times and incapable of catching up with innovation. A system that has turned into a problem, more than a solution, such as an answer to a question nobody is asking anymore.

The future travels fast, and faster each time, and most of the population has access to a technology we weren’t able to imagine just a few years ago. However, intelligent payment terminals -or smartphones- and the networks they’re connected to, are both platforms that haven’t showed all of their potential yet. These systems’ possibilities are fascinating in some areas, and at the same time, disappointing in unprepared environments. Let’s set an example: we can ask for and obtain, nearly instantly, a 3000€ loan by solely using our mobile phone, but we can’t pay a small amount at the bakery or have a 1.20€ coffee, but have to search for coins within our pocket.

When talking of payment methods, mobile technologies are sufficiently mature to substitute any payment modality in a feasible and secure way. Historical payment terminals, which imply duplicated costs, constant maintenance and associated problems have stopped representing an aid to payment and have begun to be a problem in sales.

Orain is born to change this paradigm. A transversal platform from which we can make small or big purchases in any selling point, which allows to extend payments or micropayments to all elements around us only through a Smartphone, revitalizing any type of business. Orain has a system adjusted to the times we’re living in. It offers a witty and intuitive interaction with any machine without it being connected to a network, adding multiple services for the user and digital marketing tools for the business owner.

Intelligence, interaction, innovation, benefits’ maximization… concepts that don’t need a big investment in order to be applied to a business. Let’s bring out the opportunities that a connected world is offering us, and in which new payment methods and the client-business relationship needs no more intermediaries. Welcome to Orain.

No business oriented to the big public can still be distracted from this: it is a new payment method and interaction tool that puts us all, small and big, at the same starting point.

Orain Technologies is a CVC Spin Off. Visit their website here:

Carlos Sierra

The author Carlos Sierra