Mobile Point of Sale (mPOS) technology represents an exciting opportunity for smaller Merchants to expand their payment acceptance options and for Merchants seeking more flexibility and mobility than traditional point of sale set-ups.
mPOS solutions can comprise of hardware devices or accessories such as card readers that are paired with a smartphone or tablet via a payment software application, so it’s enabled to accept payments.
of payments via mPOS devices expected in 2022.
Source: “Juniper Research – Payment Trends Report", December 2019
Flexible: Meets the need for a broad range of Merchant segments including mobile businesses, client sites in the field, or staff mobility to accept payments from anywhere in the store.
Simple: Provides an alternative for Merchants who cannot rely on landline communications, or a fixed location solution.
Secure: A secure card reader is used to encrypt Card information, so the data is more secured.
Enhanced Customer Experience: Expands the Merchants’ acceptance offering to accept different forms of payments.
Device Security in the App: Merchants download an approved, secure payment application and uses an EMV/PCI approved card reader such as a Secure Card Reader for PIN (SCRP), if the PIN is to be entered on the Merchant’s mobile device.
Secure card reader: The reader ensures that the Card data is encrypted and secured. An SCRP may also be used to encrypt the Card Members’ PIN allowing the PIN to be entered directly on the Merchant’s mobile device.
Fraud Prevention: PCI’s new requirement for attestation data was initiated in order to prevent applications being compromised. The vendor or partner for the payment application and back-office system monitor and report back frequently to ensure the application’s transactions have not been compromised.
Click here to contact an Amex Business Representative for additional information about Amex mPOS solutions and specification.
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