The Poynt Smart Terminal accepts all payments methods - traditional cards, EMV (chip and PIN), NFC (Apple Pay and Android Pay), QR code, and beacon and will make its debut in the wake of the EMV-migration in the US. The EMV mandate dictates that in order to avoid bearing the liability risk for fraud, merchants must upgrade their payment terminals to accept chip cards. As millions of merchants make this change, they are expected to switch to terminals equipped for NFC in order to accept Apple Pay and Android Pay.
Founded in 2013 by Google and PayPal veteran Osama Bedier, Poynt is headquartered in Palo Alto, California and is backed by Matrix Partners, Oak HC/FT Partners, Webb Investment Network, Nyca Partners, Google Ventures and other individual investors.
Apart from the certification, the company has raised USD 28 million in funding. The Series B round was led by Oak HC/FT, with participation from Stanford-StartX Fund as well as previous investors. Fintech and payments experts Ann Lamont, Managing Partner at Oak HC/FT, will join Poynt’s board of directors, and Patricia Kemp, General Partner at Oak HC/FT, will become a board observer.
In addition to funding, Poynt has also announced a number of hires - Tony Miranz, former CEO and co-founder of VUDU, a Wal-mart company, has recently been named Poynt’s COO. Aaron Leiba, a former Intel, Google, Apple, and Palm executive, was appointed VP of hardware engineering, and Musaab At-Taras, a former eBay and PayPal executive who most recently served as PayPal’s head of global strategic integrations, has joined Poynt as VP of software development.
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