NuovoPay allows telecom carriers, resellers, and finance companies to protect their leased POS devices against EMI payment defaults. The company's mobile locking technology remotely locks devices leased to consumers in the event of a failure in EMI payments or if the tools are reported stolen.
NuovoPay provides technology solutions and SaaS products to SMBs (small and midsize businesses) and Enterprises.
NuovoPay is a product by ProMobi Technologies Pvt. Ltd.
One of NuovoPay's main goals is to empower technology finance companies, resellers, and telecom carriers with a sustainable device leasing model. And the company offers one of the best-in-market solutions for leased Point of Sale devices.
NuovoPay not only makes it possible for leasing companies to sublet Android-based POS devices to businesses (allowing them to facilitate a seamless digital experience to paying customers), but NuovoPay sends timely payment reminders to help clients stay updated on their payment cycles.
Suppose a client is late or has not paid their equated monthly installment or EMI (a fixed payment amount made by a borrower to a lender). In that case, NuovoPay's locking technology ensures that leasing companies have complete control over their devices. Lenders can easily lock defaulted POS devices from NuovoPay's simple dashboard from their office's comfort until all dues are cleared. Then once the payments have gone through, lenders can easily unlock the device and allow business owners to instantly continue using the device.
Currently, NuovoPay offers two plans for finance, resellers, and leasing companies to choose from. The first option is the NuovoPay Go, which the company claims has "everything you need to set your device leasing program in motion," including simplified integration, streamlined payment logs, remote locking, reduced collection costs, and assured revenue. This plan is free forever for up to 10 devices.
The second plan is called NuovoPay Growth. This plan is tailored for businesses, includes everything the NuovoPay Go plan has plus priority support. However, the plan requires consumers to contact the company for a personalized quote.
Those interested in trying out NuovoPay's services can sign up for the NuovoPay Go plan. The plan comes with a free 14-day trial for unlimited devices and no credit card is required.
While NuovoPay's services are pretty straightforward, few things aren't fully disclosed on the website. For example, there is not a lot of detailed information on the terms and conditions of NuovoPay's plans. Consumers are left asking questions such as: How long am I committing to use NuovoPay's services? Are payments made monthly or annually? Am I able to get a refund if I am unhappy with the provided service?
Potential clients of NuovoPay can sign up directly on the website. All that's needed to sign up for a free 14-day trial is a name, work email, password, and contact number. After filling out this information, customers will need to check the box agreeing to the terms and policies set by NuovoPay.
However, if you try to click on the Terms and Policy link, nothing happens. You are not redirected to a new page, nor does a broken link page pop up. You can check off the box that states you agree to the terms and policies, but you cannot actually read what they are.
This is problematic as there is no other place on the website you can read NuovoPay's terms and policies. While most people may skip over the terms and policies, it could help answer some of the questions that potential clients may have (such as the ones previously mentioned in the Undisclosed Information section).
Currently, NuovoPay only supports Android-based POS devices. There is no mention as to whether or not the company will expand its services to iOS-based devices.