SoftPOS enables contactless payments of any amount via a smartphone or tablet with no additional equipment using embedded near-field communication (NFC) functionality. The merchant’s phone will be enabled with the acceptance of contactless transactions from existing contactless cards, other NFC-enabled mobile phones, or other NFC-enabled devices such as wearables and key fobs.
A SoftPOS pilot will take place in Poland by the end of 2019. The pilot program will expand thereafter, initially in the EMEA and APAC regions.
In addition to international cooperation in implementing SoftPOS in the EMEA and APAC regions, Visa’s contactless capability will enable quick and secure contactless transactions, Fiserv will ensure secure settlement of transactions, and Samsung Electronics (in partnership with Samsung Knox) will provide security protocols in both hardware and software and mobile devices.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.