1OAK Technologies rolls out Sequoia m-payments solution

Wednesday 8 January 2014 09:25 CET | News

1OAK Technologies, a provider of mobile consumer electronics design and engineering solutions, has rolled out Sequoia, a transformative mobile payments product that allows retailers to accept mobile payments with existing point-of-sale (POS) machines without changes to network infrastructure or back-end payment processing systems.

Sequoia enables consumers to make electronic payments through a Sequoia application on a smartphone, without requiring the consumer to carry additional hardware or gear.

To install Sequoia retailers peel and stick Sequoia to existing credit card readers on point-of-sale systems, through which the unit receives encrypted credit card information from customers smartphones. The credit card data is relayed through Sequoia just like with a standard credit card.

The Sequoia application works on any smartphone platform including iPhone, Android, Windows phone and BlackBerry. Consumers enter their credit card, loyalty or debit card data and the mobile payments system is ready to use. To make a purchase, consumers open the Sequoia application on their phone, select the payment card they wish to use and touch ‘pay’ on their phone. Sequoia receives an encrypted signal with the information from the phone, translates it and transmits it wirelessly to the credit card reader. Sequoia does not rely on technology such as Bluetooth or NFC or an accessory case.

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Keywords: 1OAK Technologies, Sequoia, mobile payments, POS, point of sale, credit card, loyalty, debit card, wirelessly
Categories: Payments & Commerce
Countries: World
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Payments & Commerce

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