Rocket Internet-backed Square clone payleven has teamed up with MICROS, which offers robust point-of-sale (POS) hardware, software solutions and services for the restaurant, hotel, hospitality, specialty retail and other markets.

The partnership between the two companies will result in the introduction of a cloud-based, pay-as-you-go POS system with integrated Chip & PIN card payments, at least in the initial stage of the collaboration agreement.

The joint product is based on MICROS’ new, bafflingly poorly named Kachng! solution, and enables merchants to set up a complete point-of-sale system in minutes.

 Payleven and MICROS spawn a cloud based point of sale system with Chip & PIN support

All that is required from merchants is to download the payleven app and access Kachng! online from any HTML Web browser.

A Kachng! rolling subscription costs £49 per month per POS and upwards, depending on the merchant’s needs. Payleven in turn charges 2.75 percent per transaction, and £89 + VAT for the card reader.

The cloud-based POS system works via 3G, 4G or Wi-Fi and comes with integrated Chip & PIN card payments functionality, as well as automatic sales and card history transactions reconciliation.

Payleven debuted a fully certified Chip & PIN technology-supported payment system in February this year, in partnership with Visa Europe.

Alston Zecha, COO and founder of payleven, says:

“We constantly look to enrich our customer experience by extending payleven’s functionality. Today marks another important step on that journey partnering with MICROS, a proven leader in Point-of-Sale technology.

We are continuing to help growing businesses expand, by designing a system that can scale to offer increasingly sophisticated functionality as required.”

The new system is available to all existing and new customers of both MICROS and payleven from today in the UK, and will shortly be available in other places across Europe.

Founded by Zecha along with Konstantin Wolff (CMO) and Rafael Otero (CTO), payleven currently boasts 90 employees working in the UK, Germany, Italy, Benelux, Poland and Brazil.

Last month, the mobile payment startup moved beyond catering to business users only, and opened its service up to individuals.

The company secured a “high single-digit USD million funding round” in the beginning of this year in a bid to become the ‘Square of Europe’.

Also read what the competition is up to:

PayPal eyes Europe’s mobile payment space, Chip & PIN-flavored PayPal Here coming to UK this summer

Mobile payments firm iZettle solves its Visa Europe problem, launches ‘Chip & Pin’ device

SumUp demos its latest mobile-payments tech for Europe: Order a coffee simply by saying your name

After $15B in payments, Square debuts Square Stand hardware to select US retailers for $299

Square hires former PayPal Vice President Alex Petrov to lead its partnerships effort

Top image credit: Flickr / avlxyz