VAUGHAN, ONTARIO, Oct. 23, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Comepay, Inc. (OTCPINK: CMPY) (“the Company”) is pleased to announce that its wholly owned subsidiary, Chek-Online LLC, manufacturer of the Cassatka smart terminal, a fiscal cash register developed to meet regulatory requirements of 54-FZ tax legislation in Russia for small and medium businesses, has launched an App store for its users including a myriad of add-on features and software applications to allow enhanced value from their smart terminal.
The app store “Cassatka.Market” presently offers 25 add-on applications, however, the in-house technology development team at Comepay has advised numerous new apps are currently under development. By the end of 2020, the Company hopes to release more than 1,000 apps to enhance the use and functionality of its suite of Cassatka smart terminals.
Comepay, Inc. CEO Dmitry Tsatskhin stated, “The Cassatka.Market is intended to provide a value-add service to our client base, allowing maximum functionality from our Cassatka terminals. We also intend Cassatka.Market to become a platform for any developers with savvy applications to share their apps on our platform in a fee based partnership, offering a further benefit for all users.”
Russian Federal Law 54-FZ implementing the “Mandatory Application of Online Cashiers” in Russia, forces small and medium sized businesses to replace old cash registers with modernized online cash terminals which allow compliant fiscal reporting. With this mandate, users of new fiscal smart terminals, such as the Cassatka, can not only transfer data over the Internet to the tax department as required by law, but can now automate many “outdated” business processes and experience enhanced metrics on their business operation.
The Cassatka.Market was developed to complement the basic functionality of the smart terminal for different business tasks.
Our initial 25 applications, include features such as “sharing via Excel”, “integration with 1C”, “logistics services”, various product editors, loyalty programs, an online barcode base, drivers for external devices and more.
Each app available at the Cassatka.Market requires a monthly subscription to the enhanced service offered.
Mr. Tsatskhin, Comepay’s Chief Executive Officer, further added, “Comepay’s goal with the Cassatka smart terminals is not only to meet the mandate of Russian fiscal law, but to expand business opportunities for our clientele by increasing communication and opportunities for customers, and ultimately increasing sales.” Mr. Tsatskhin further stated, “With the nationwide upgrade underway to provide new, high functioning technology, there is a wide range of additional opportunities to support our customers in their various business endeavors through data analysis, reporting and other key business metrics offered with our Cassatka terminal and supporting apps.”
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. www.comepay.com, www.comepay.ru, www.chekonline.ru, www.starrys.ru, http://kassatka.me/