First Data (Fiserv), Visa, and Samsung have unveiled a “Software Point of Sale” solution at IFA 2019.
The SoftPOS system allows users to turn their smartphone or tablet into a point of sale device that can accept contactless card payments – in the same way a traditional card machine works.
“SoftPOS enables this functionality on an everyday mobile device using embedded near-field communication functionality. The merchant’s phone will accept contactless transactions from existing contactless cards, other NFC-enabled mobile phones, or other NFC-enabled devices such as wearables and key fobs,” said Samsung.
The first pilot of the system will take place in Poland later this year, after which it will expand to the EMEA and APAC regions.
Advanced payment solution
Samsung said SoftPOS is one of the most advanced payment solutions in the world, thanks to the technology it uses.
- Visa’s contactless capability enables quick and secure contactless transactions.
- Fiserv ensures swift and secure settlement of transactions via a mobile app.
- Samsung provides multi-layered security protocols in both hardware and software.
“We are embracing a new era in payments – the mobility era. As contactless payments grow in popularity it is important that merchants are able to enable these payments on mobile devices,” said Fiserv.
The companies added that Poland was chosen as a testing ground thanks to the high levels of contactless payment usage.
“Thanks to SoftPOS, a greater number of domestic points of sale will be able to accept contactless payments, providing consumers with quick, convenient, and secure contactless payments with a card, smartphone, or watch.”
The aim of the software is to make it easy for small business owners to accept card payments, while they and their customers remain secure.
It must be noted that the software only supports contactless “tap-and-go” payments using NFC.
This is opposed to traditional card machines which support NFC, chip-and-PIN, and magnetic card stripe payments from customers.