May 12th, 2014 by Elma Jane
New iPhone and VeriFone-made shell combination that can accept chip and PIN card payments. Apple’s revamp in its in-store mPOS system
In 2009, Apple introduced its EasyPay mPOS technology. It consists of an iPod Touch and a shell made by Infinite Peripherals that includes a card swiper and a barcode scanner.
As first reported by 9to5mac,the iPod is now being replaced by an iPhone while VeriFone is being brought in to provide a new shell which will cater for chip and PIN payments as the US finally gets ready for the switch to EMV. The shell also has a spot above the PIN pad that opens the way for NFC contactless payments, according to Forbes. Apple has long been expected to equip the iPhone with NFC but has so far ignored the technology.
Separately, mPOS giant Square has ditched its Wallet app, pulling it from the Google and Apple stores. The app has failed to take off since its launch in 2011, despite the support of Starbucks. It has been replaced by Square Orders, which lets users order and pay ahead at participating merchants and then pick up their goods when they are ready.
Posted in Best Practices for Merchants, Mobile Payments, Mobile Point of Sale, Point of Sale, Smartphone Tagged with: app, Apple stores, Apple's, barcode, barcode scanner, card, card swiper, chip, contactless payments, EasyPay, EMV, Forbes, google, in-store mPOS, Infinite Peripherals, Iphone, iPod, iPod Touch, Merchant's, MPOS, mPOS giant, mPOS system, mPOS technology, nfc, NFC contactless payments, PIN, PIN card, PIN card payments, PIN pad, Square, Starbucks, swiper, verifone, Wallet app
January 13th, 2014 by Elma Jane
Most of the world has already migrated to EMV chip technology. EMV, as commentators have noted, affects not only hardware and software, but every card payment system, device and application. Looking ahead to the 2015 liability shift, stakeholders who have not made the switch should consider these benefits of EMV.
Rather than focusing on any potential expenses, however, stakeholders should instead consider the important elements they have to gain.
EMV is here.
Benefits of EMV:
Global interoperability – Since most of the world has migrated to EMV, U.S. banks can that transition gain the ability to have their cards used with full EMV security anywhere in the world. Further, merchants benefit from this global interoperability as it allows them to process transactions coming into the U.S. from foreign travelers in the same way as domestic transactions.
Higher security – The latest data indicates that 78 percent of all counterfeit card fraud originates in areas where EMV has not yet been widely implemented, and even the most ardent detractors of EMV admit that EMV is very secure.
All stakeholders, gain a higher level of security than was available through magnetic-stripe technology.
Roadmap to mobile – POS terminals that support contactless EMV will in turn enable mobile EMV on NFC at merchants, meaning merchants can take advantages of all manner of popular payment methods, as well as the latest loyalty, location-based and couponing capabilities of mobile.
Posted in Credit card Processing, Credit Card Security, EMV EuroPay MasterCard Visa, Mobile Payments, Mobile Point of Sale, Near Field Communication, Point of Sale, Smartphone Tagged with: card, card fraud, card payment system, chip, contactless emv, counterfeit, couponing, EMV, interoperability, magnetic stripe, Merchant's, mobile, nfc, payment methods, POS terminals, secure, Security, technology, transactions, transition, travelers
