When the POS attendant inputs the details of the transaction, the data is then transferred to the customer’s mobile device via the NearBytes technology, from where the details will be on view. The customer then needs to enter a mobile banking PIN on their device to authorize the transaction, before the details are sent back to the point-of-sale (POS). From there, a request is sent to the bank for processing and a receipt of confirmation is printed.
NearBytes is a sound-based data transfer technology that works by sending encrypted data from one device to another as a sequence of chirps that sound like a cricket. Because the technology relies on a mobile phones built-in microphone and speaker, no add-ons or internet connection are necessary. All it takes is to place the two systems a few inches from each other.
The Edgepay POS unit features a microphone and speaker for NearBytes transmission, along with EMV, NFC and a magnetic tape reader for compatibility with cards, such as Europay, Mastercard and Visa.
In recent news, NearBytes has launched its NearPay system for proximity payments.
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