Mexican fintech releases Clip Total; the all-in-one for SMEs?

Contxto – Mexican fintech Clip is releasing another payment solution into the market. Last Thursday (5), the startup presented its latest creation, “Clip Total.” Its Co-founder, Adolfo Babatz summarized it as “the point of sale in the palm of your hand.”

The event kicked-off with an introductory video like the last Super Bowl. But instead of a football, everything was centered on completing transactions with many of Clip’s payment device models. Until finally, the video’s protagonist ran into a new model which he took with him.

The video ended with the bearer of this new device making his way onto the stage where Babatz was waiting.

In his possession was Clip Total, a terminal with multiple features that will come in handy for small and medium-sized enterprises (SMEs). But it will also be a valuable new addition to the fintech’s arsenal of payment solutions.  

Fancy and “handy” new features

Putting the name “Total” on a product’s name is a bold move. It means building a lot of hype, so delivery is crucial. 

And I hardly think Babatz disappointed with the new product’s features. For your reading convenience, here they are:

• Fits in the palm of your hand
• Accepts all debit and credit cards (including American Express)
• Possesses screen larger than a typical phone’s, so you don’t have to squint
• Prints receipts
• Hosts touch-screen keyboard
• Free internet for all transactions
• Is wireless
• Prints customer orders which can be sent to kitchen staff in a restaurant, for example

But there are two particular additions on the device that Babatz was keen on emphasizing.

Catalog and contactless

Clip Total also contains a barcode scanner. Through it, business owners can scan and register the goods they have for sale and build their digital catalog with it.

So now, if a product needs to be canceled or to be searched for in a database, there’s no need to go to a PC. It can be managed on the device.

Babatz also hailed Clip Total’s contactless feature for making payments. Wherein, it’s no longer needed for a card to even physically touch the terminal in order to complete the transaction.

This new approach is reportedly faster and more secure, since you don’t have to type in your PIN in front of others. Not to mention is simpler as you literally only need to pull out the card.

According to the Co-founder, this payment method is reportedly spreading fast in countries like the United Kingdom and Costa Rica. But it is still fairly new in Mexico.

Appearances and prices

When it comes to looks, unlike previous models which were small and almost looked like pocket calculators, Clip Total looks like a genuine POS terminal. But with a sleeker and less bulky appeal.

And that makes sense, a part of the fintech game are slick designs. Not the clunky bricks we traditionally see with other POS terminals.

What’s interesting, is in a sales-pitch appeal, rather than giving the full price for the device (MXN$4,5000 or US$224), Babatz presented it as accessible through 12 monthly installments of MXN$375 (US$19).

How will other competitors respond? Will they unleash their own “all-in-one” terminals?

The fintech game continues.

Related articles: Tech and startups from Mexico!

-ML