Samsung, Visa and First Data created point-of-sale (POS) software enabling merchants to accept payments using mobile and other devices without requiring additional hardware

Briefing

Samsung, Visa and First Data created point-of-sale (POS) software enabling merchants to accept payments using mobile and other devices without requiring additional hardware

September 26, 2019

Briefing
  • Software Point-of-Sale (SoftPOS) – Samsung, together with financial services companies Visa and First Data (owned by Fiserv), created Software Point-of-Sale (SoftPOS) solution enabling contactless payments using mobile and other devices, including wearables and key fobs, without need for additional hardware
  • Near-Field Communication – Technology embedded in mobile and other electronics that uses magnetic field induction to communicate to each other within four centimeters apart
  • Partnership/Collaboration – Brings together Visa’s contactless payments technology, First Data’s mobile app solution, and Samsung’s mobile hardware and software security protocols
  • Technology Showcase – Said solution showcased in Europe’s largest technology fair IFA 2019 on September 6-11, 2019
  • Future Plans – Will be piloted in Poland by end of 2019, and shall expand in Europe, Middle East and Africa (EMEA) and Asia Pacific (APAC) regions

Market Disruption
Innovation Partnerships, New Payment Technologies

Business Model and Practices

Business Model
and Practices
Innovative Partnerships

Sector
Financial Services, Information Technology

Function
Accounting and Finance, Customer Experience and Service, IT Infrastructure, Sales and Distribution Channels

Organization
Fiserv Inc., Samsung, Visa Inc.

Source

Original Publication Date
September 6, 2019

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