Some of life’s modern conveniences are credit card processors and cash registers. Can you imagine living in a world where you could not use a credit card or a debit card? Where only cash and checks were accepted?
For many consumers this kind of reality would be beyond difficult. Let’s face it, it may even be a nightmare. We have grown accustomed to quickly being able to pull plastic out at the checkout lane.
This is exactly why smart terminals are one of the best inventions this world has ever seen, offering consumers and even companies an everyday convenience that they can rely on.
This is the massive Point of Sale space where giants like Shopify (NASDAQ:SHOP) and Square (NASDAQ:SQ) have shown what kind of insane profits can be a reality.
New tax legalization in Russia has created a MAJOR opportunity for Comepay, Inc. (OTC: CMPY), a provider of Internet acquiring and support services.
The company has created a fiscal cash register developed to meet regulatory requirements of recently released 54-FZ tax legislation in Russia for small and medium businesses!
With a trading float of just under 5 million shares, Comepay, Inc. (OTC: CMPY) may be one of Wall Street’s hidden darlings….
Russian Federal Law 54 requires businesses and individuals to use federally compliant cash registers, including a fiscal chip for processing sales transactions.
This Russian taxation legislation required 1.2 million businesses in fiscal 2018 to install new, federally compliant on-line cash registers. This year a further 1.4 million businesses will install the new registers by the end of 2019 and they could be choosing Comepay, Inc. to get this done.
With several major companies already as clients, including Bosch Russia, Volkswagen Russia, and Volvo Russia, Comepay, Inc. (OTC: CMPY), may soon become a household name in Russia’s Point of Sale arena!
Comepay, Inc. (OTC: CMPY) is involved in facilitating instant payments and internet-based payment transactions through hand held terminals, mobile interfaces, and Web-based applications.
The Comepay group of companies including Comepay, RP Systems, M-NN LLC and Chek-online have been operating for over 11 years providing internet acquiring services and support, facilitating instant payments and internet-based payment transactions originally, and more recently via hand held smart terminals mobile interfaces and web-based applications.
The Company also leases and sells cash registers and POS systems, including its recently developed proprietary multifunctional smart POS fiscal cash register system.
Comepay, Inc. (OTC: CMPY) has a wholly owned subsidiary called Chek-Online LLC, that is a leading manufacturer of fiscal cash registers in Russia. It is the developer of the family of Cassatka smart terminals.
The Cassatka is a multifunctional smart POS online fiscal cash register that can process payments and meet fiscal data storage requirements for participating businesses.
It is a convenient and cost competitive solution for businesses to meet the new federal taxation requirements in Russia.
The wide range of applications currently being offered on the “Cassatka.Market” are free, and are meant to act as drivers for connecting bank terminals, label printers, the processing of discounts and special offers, generating bar codes and a full system of back-end accounting.
Chek-Online is working continuously to offer apps and features which simply business operations across all key industry segments of the Russian marketplace.
The company has released a handheld solution for mobile businesses in Russia, the compact Cassatka Mini. Targeting the needs of mobile users across the country, such as courier and delivery services and online stores, the Cassatka Mini is the Company’s most compact and functional device in its line of smart terminals.
Weighing only 480g together with a fiscal drive, it is equipped with a 5-inch color touch-screen display, has Internet access via WiFi or a GSM modem and supports 18 hours of usage before recharging.
An affordable and compact solution to meet the needs of a mobile sales force, the Cassatka Mini is more functional than competitive units on the market.
It boasts a 6 in 1 solution that does not require the connection of additional equipment. The unit can be purchased with or without integrated acquiring.
The Cassatka Mini does not sacrifice functionality for size. The smaller unit offers the same functionality as Chek-online’s larger units, including the built-in product accounting system with monitoring and sales analytics. The Mini allows you to track inventory and movement of goods and services, see balances, issue receipts, track expenses, generate reports, upload unlimited catalogs of goods from Excel and 1C, assign discounts, set up loyalty programs, and more.
The Android based operating system on the Cassatka Mini also provides access to various applications, such as wallets, payment instruments and a host of other useful apps and functions previously available only to large businesses.
Mr. Konstantin Shitikov, Chek-Online’s General Director, stated:
“We combined a multifunctional tablet, a receipt printer, a 1D / 2D barcode scanner, a cash register program, a terminal for accepting bank cards, and an NFC chip in one compact mobile device. For those with expanded needs, we have supplemented this highly functional unit with the option to connect a portable unit for trade acquiring.”
“In addition, “Cassatka Mini”, similar to our first smart terminal product, the Cassatka 7, offers the same robust interface with your personal POS account for simplified tracking of your sales transactions. We are confident that this new product will allow individual and mobile users to comfortably transfer their business to mandatory online reporting in accordance with the new requirements of 54-FZ tax legislation.”
Chek-online LLC, has an interesting developing currently going on where it has commenced a cooperative project with Zolotaya Korona.
Over the past nine years Center of Financial Technologies Group (CFT Group) has been actively developing social and transport card projects in 28 regions of Russia, a project based on Zolotaya Korona bank card technology.
Using the convenient Zolotaya Korona “e-ticket system”, travelers can make cashless payments for fares in-transit on public transport. Users purchase their universal transport cards at special points of sale across Russia.
Use of the “e-ticket system” requires a one-time deposit via the app or at the transport service ticket office. Once the transport card is loaded, users simply tap their card against the conductor’s terminal or the subway validation stand for easy and convenient fare payment.
The ready-made technology offered by the Zolotaya Korona system allows for loading cash onto all types of transport and social cards including: bank-transport cards, freight-discount cards, corporate transport cards, travel cards for single or multiple trips, holiday transport cards, and cards with flexible or discounted travel rates depending on the recharge amount.
Passengers will be able to pay their fare with a simple touch of the card and top up their transport card balance while on the bus, tram or subway via the Cassatka payment terminal!
Comepay, Inc. (OTC: CMPY) has also added increased functionality to its smart terminals including the Unified State Automated Information System (USAIS) app, in order to simplify reporting of alcoholic beverages and products to the Federal Tax Authority of the Russian Federation, including the ability to issue industry compliant receipts for alcoholic products sold.
At the close of fiscal 2018, the Chek-Online development team officially launched the custom USAIS app for operators of the Cassatka family of smart terminals. In addition to reporting transactions to the Russian Tax Authorities, taxes on sales of alcoholic beverages and products must be further reconciled with the USAIS.
Prior to the launch of the USAIS app for the Cassatka smart terminals, businesses were required to independently file product details and reports with the USAIS.
Comepay, Inc. is determined to make a name for itself in the massive Point of Sale arena and with an incredibly small trading float could mean major upside is in store for the stock!
According to Zion Market Research, the global Point of Sale (POS) software market accounted for $12.9 billion in 2017 and is expected to reach $30.9 billion by 2024, at a CAGR of 13.3% between 2018 and 2024. This is a huge arena that Comepay, Inc. has secured a footing in!
Think of Square and Shopify.. two companies involved with POS. Shopify is over $300 a share while Square has a 52-week high of $101 a share.
Companies on board with Comepay, Inc. (OTC:CMPY) already include Russia’s ASUS, Bosch, Volvo, and Volkswagen and many more could be added shortly.
The company has even added increased functionality to its smart terminals by integrating merchant acquiring services from two large banks in Russia for the versatile handheld Cassatka-Mini terminal.
Russia’s new law could push a lot of companies towards Comepay, Inc. (OTC: CMPY) and this quiet penny stock could quickly catapult onto Wall Street’s radar!
Disclaimer: Pursuant to an agreement between Chasing Markets and Acn llc, we were hired to host this advetorial containing information about ((OTC: CMPY)) for a fee of $2,000 per month starting July, 2019 which includes information on this Website and other media including Facebook and Twitter. Chasing Markets has been compensated by a sharegolder of Comepay for advertising services. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding Comepay Inc. Chasing Markets own zero shares of ((OTC: CMPY)).