Edgepay terminal uses NearBytes technology for mobile payments

Monday 16 June 2014 09:33 CET | News

Zimbabwe-based banking solutions provider Edgetech Solutions has entered an agreement with Brazil-based software development kit provider NearBytes to leverage the latter’s technology in order to develop the Edgepay POS terminal, which works in conjunction with an app on the payers mobile phone. The app is currently available for iOS and Android devices.

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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Keywords: Edgepay, NearBytes, terminal, technology, mobile, payments , POS, EMV, NFC, point-of-sale, Europay, MasterCard, Visa
Categories: Payments & Commerce
Countries: World
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Payments & Commerce

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