PayMetrex Enters Strategic Licensing Agreement in SoftPOS Market

Datametrex AI Limited announced that its subsidiary, PayMetrex Payment Solutions Inc., has entered a licensing agreement with AnywhereCommerce Inc. This deal involves PayMetrex's patent portfolio, which covers secure transaction processing and mobile-based payment solutions. The agreement aims to leverage these patents in the rapidly growing SoftPOS sector.

SoftPOS technology allows merchants to process contactless payments directly on smartphones without dedicated hardware. The sector is supported by increasing adoption from financial institutions and fintech companies seeking affordable merchant solutions. Juniper Research projects SoftPOS transactions to grow significantly, reaching $540 billion by 2030, emphasizing its acceptance in both developed and emerging markets.

AnywhereCommerce will utilize PayMetrex's patents in its expanding SoftPOS offerings. CEO Paul Haber suggests the partnership will benefit stakeholders by tapping into the growing mobile payments sector. PayMetrex plans to use AI tools to enhance its market strategy in collaboration with AnywhereCommerce.