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Comepay, Inc. Subsidiary, Chek-Online, Announces Newly Developed Mobile Platform Designed to Assist Small Businesses in Providing Customers Easy Access to Online Purchases and Delivery

/EIN News/ -- VAUGHAN, ONTARIO, Dec. 03, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Comepay, Inc. (OTCPINK: CMPY) (“the Company”) is pleased to announce that its wholly owned subsidiary Chek-Online LLC, a leading manufacturer of fiscal cash registers in Russia, and developer of the family of Cassatka smart terminals has disclosed the upcoming release of a full-featured version of its app for iOS- and Android-based smartphones and tablets. Chek-online development staff are yet to disclose the name of the app and its exact release date, but expect the app to be launched no later than May of 2019.

The mobile app is designed to allow all users who have downloaded the platform to easily find outlets that use the Cassatka online cash terminal: view all available products, compare prices, receive discounts and immediately place orders for delivery to any location in the city, paying remotely using their bankcard.

The seller, in turn, will receive a notification about the online order on their Cassatka smart terminal, and will be able to process the order for delivery.

The details of the products featured on the app will be made available using the built-in accounting system provided with the fiscal cash register. Business owners can update their back end system in order for the app to provide details such as products for sale, number of units in stock, price and available discounts. All information provided in the app is automatically synchronized with the individual login account for the business owner and transferred to the app. Data transferred to the app is available for download by any interested consumer.

Currently, more than 20,000 individual businesses across Russia are selling their products and processing payments using our series of Cassatka online cash registers, with new users being added on a daily basis.

According to the Chek-online development team, this app is intended to establish a direct connection between the seller and the buyer, creating a comfortable environment for online. The app is also intended to drive potential customers to mobile storefronts and encourage online trade.

It was important to the Chek-online development team that users can compare both like products from storefronts in the same product category, as well as other product categories. As a result, potential customers are able to create a multi-category basket in the app pulling product from different stores into one easy to use comparison and purchase process. The app is designed to provide all the advantages and benefits that come with other online shopping providers. Customers will easily be able to access the necessary information about the products in order to quickly and efficiently be able to make an informed decision about online purchases.

Comepay President Felix Naff commented, “It is apparent that websites for online sales, and mobile apps are becoming a very convenient option for the Russian consumer. Data collected by our development team suggests that mobile purchases in Russia are already estimated to make up 17% of the total consumer purchase market share. As mobile commerce continues to become more convenient and more functional, we expect to see other sales categories in Russia to adapt restaurants, and small retail outlets. The possibilities for a highly functional user app in this space are endless. Functions including simple online ordering from our favorite local shops, and ultimately including targeted advertising based on account geolocation and other known customer preferences are exciting options to expand our user base.”

The Chek-Online development team has indicated it will take a little more than 4 months to complete development on the app, following which it will be released on the AppStore and Google Play during the late spring of 2019.

About Comepay

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 via kiosks, mobile interfaces and web-based applications such as electronic wallets.  The Company also leases and sells cash registers and Point of Sale (POS) systems, including its recently developed proprietary multifunctional smart POS fiscal cash register system. Combining proprietary software and equipment, Comepay processes over 10 million customer payments per month and presently has more than 22,000 kiosks across Russia.  The companies are currently focusing their planned business expansion on the smart POS fiscal cash register system called “Cassatka” in order to help businesses comply with newly released Russian taxation legislation, 54-FZ which requires 1.2 million businesses in fiscal 2018, and a further 1.4 million businesses in fiscal 2019 to install new, federally compliant on-line cash registers.  The Cassatka, Comepay’s multifunctional smart POS online fiscal cash register 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, and is currently being manufactured for distribution prior to June 2018. As the companies expand their business model, we expect to offer blockchain acquiring services and also to accept payments in multiple crypto currencies on the Cassatka. The Comepay group of companies presently earn revenue from a variety of channels including fee based commissions on payment processing for both cash and debit card payments, software licensing, kiosk placement fees and other rental fees for cash registers and associated equipment.  The Comepay companies are looking to expand rapidly in fiscal 2018 and beyond as we introduce and market the Cassatka along with a suite of enhanced user features.  

Dmitry Solomovich

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