What are the main products of Lopay?
Lopay’s only self-made product is its point of sale (POS) and payment app that looks like the free apps from SumUp, Zettle and Square. The associated payment products – the card machines and payment channels – are provided by Stripe, not Lopay.
Despite advertising two card terminals, just one of the models is currently in stock: the WisePad 3 Reader that works only conjunction with the Lopay app. The other model, WisePOS E, is a standalone smart POS terminal with a big touchscreen. Both are sold by Stripe, so Lopay acts as the reseller in this situation.
The payment methods offered include:
- Card reader transactions via contactless and chip and PIN
- Tap-on-phone payments, i.e. contactless card/mobile wallet taps on the merchant’s phone
- Payment links sent from the app for online payments
- QR code payments, i.e. customers scan the merchant’s app screen to pay online
All of these methods require the Lopay app, which makes a profit every time you accept a transaction. The app also has a product and customer library, tipping, sales reports and digital receipts, not much else. None of these features are unique, but they are essential for many small businesses.
What’s more, the app is still being developed in beta and has limitations. And if you manage to get the premium WisePOS E terminal, there are even fewer features, like no payment links. This all seems a bit incomplete, unless the core, existing features are all you need.