Wireless payments have quickly become the norm for the majority of shoppers, so SoftPOS from First Data, now part of Fiserv, has been unveiled by the company as a new innovative that aims to further accelerate the technology.
Unveiled at IFA 2019, the software works by utilizing the near-field communication (NFC) technology within the smartphones in order to take contactless payments from cards. The software also supports payments from other NFC-enabled smartphones to maximize the payment capabilities of potential customers.
SoftPOS was boasted by Executive Vice President and Head of EMEA at Fiserv John Gibbons who said, "We are embracing a new era in payments – the mobility era. As contactless payments grow in popularity it is important that merchants are able to enable these payments on mobile devices. SoftPOS, has been designed to meet the current and future needs of consumers and entrepreneurs and will change the way people make daily payments, facilitating the convenient, quick, and secure processing of contactless transactions."
Contactless Mobile Payment Software
SoftPOS Turns Mobile Devices into Payment Terminals
Trend Themes
1. Wireless Payments - SoftPOS is a disruptive innovation opportunity that aims to further accelerate the technology of wireless payments.
2. Contactless Transactions - SoftPOS enables the convenient, quick, and secure processing of contactless transactions, presenting disruptive innovation opportunities in this field.
3. Mobile Payment Technology - SoftPOS turns mobile devices into payment terminals, creating disruptive innovation opportunities in the mobile payment technology industry.
Industry Implications
1. Financial Technology - SoftPOS presents disruptive innovation opportunities in the financial technology industry as it reimagines the way wireless payments are made.
2. Retail - SoftPOS has the potential to disrupt the retail industry by revolutionizing the way contactless transactions take place.
3. Mobile Devices - SoftPOS's ability to turn mobile devices into payment terminals creates disruptive innovation opportunities in the mobile device industry.