New app-based solution simplifies payment
acceptance for merchants of any size
In a move that is expected to boost the worldwide use of
smartphones and tablets as point-of-sale terminals, First Data, now
part of Fiserv (NASDAQ: FISV), is enabling merchants to use their
own devices to accept payments of any amount without any additional
hardware.
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Fiserv, together with Visa, Samsung and
PayCore, has completed a first-of-its-kind PIN on Mobile
Transaction. (Photo: Business Wire)
This is ground-breaking for small businesses and service
providers that operate remotely due to its first-of-its-kind PIN on
mobile capability, which facilitates secure PIN entry on a
consumer-grade mobile device. This simplifies payment acceptance by
allowing merchants to accept PIN-based contactless transactions
without the need for a separate card reader or PIN-entry device,
opening new market opportunities for merchants and allowing even
micro-businesses to accept non-cash payments.
Fiserv, a leading global provider of payments and financial
services technology solutions, recently completed the first PIN on
mobile payment via the app-based solution. Following security
testing, the solution, developed jointly with Visa, Samsung, and
PayCore, is being piloted in Poland, with plans to expand in the
EMEA and APAC regions.
“The way people want to pay is changing,” said John Gibbons,
executive vice president and head of EMEA at Fiserv. “Contactless
CHIP and PIN payments are common, yet over 23 million* micro
merchants in Europe alone may lack terminals to accept them. We’re
making sure no merchant is left out and helping them do business in
the cashless economy by turning the smartphone into a card
acceptance device.”
The flexible, cost-effective solution, which is currently
available on select Samsung devices, utilizes embedded near-field
communication (NFC) functionality. A payment can be made with
contactless cards, NFC-enabled mobile phones, or other NFC-enabled
devices such as wearables.
“This innovative service is a milestone for modern
entrepreneurs. It will allow Samsung mobile users to do more than
just pay with their phones; it will let them accept payments in
places and situations where it might have been impossible
otherwise,” said Marcin Garbarczyk, Marketing and Strategy Director
at Samsung Electronics Polska.
Visa approved the solution to authorize contactless payments
with PIN capture through its Visa tap to phone program.
“With Visa tap to phone technology with PIN capture capability
merchants of any size, especially those operating outside of their
premises – like plumbers, landscapers or couriers – will now be
able to accept digital payments on their phones in a fast, safe and
convenient way,” said Katarzyna Zubrzycka, Head of Merchant Sales
& Acquirer, Central Eastern Europe, Visa.
PayCore provides EMV software to facilitate transactions that
are enabled by the Fiserv solution.
“At PayCore, we are delighted to be a technology provider for
this innovative solution,” said Turgut Güney, CEO of PayCore. “We
are sure that this disruptive technology will boost the use of
smartphones and tablets as POS terminals in the market, enabling
card-present transactions of any amount to be carried out in a
secure environment.”
Source *
https://www.statista.com/statistics/878412/number-of-smes-in-europe-by-size/
About Fiserv
First Data is now Fiserv.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and
information in a way that moves the world. As a global leader in
payments and financial technology, the company helps clients
achieve best-in-class results through a commitment to innovation
and excellence in areas including account processing and digital
banking solutions; card issuer processing and network services;
payments; e-commerce; merchant acquiring and processing; and the
Clover® cloud-based point-of-sale solution. Fiserv is a member of
the S&P 500® Index and the FORTUNE® 500 and is among FORTUNE
World’s Most Admired Companies®. Visit fiserv.com and follow on
social media for more information and the latest company news.
About Samsung Electronics Co., Ltd.
Samsung inspires the world and shapes the future with
transformative ideas and technologies. The company is redefining
the worlds of TVs, smartphones, wearable devices, tablets, digital
appliances, network systems, and memory, system LSI, foundry and
LED solutions. For the latest news, please visit the Samsung
Newsroom at http://news.samsung.com.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments.
Our mission is to connect the world through the most innovative,
reliable and secure payment network - enabling individuals,
businesses and economies to thrive. Our advanced global processing
network, VisaNet, provides secure and reliable payments around the
world, and is capable of handling more than 65,000 transaction
messages a second. The company’s relentless focus on innovation is
a catalyst for the rapid growth of digital commerce on any device
for everyone, everywhere. As the world moves from analog to
digital, Visa is applying our brand, products, people, network and
scale to reshape the future of commerce. For more information,
visit About Visa, visa.com/blog and @VisaNews.
About PayCore
PayCore, founded in 2001 to meet the software demand in payment
technologies, provides innovative, end-to-end solutions in the
field of financial payment technologies to the banking, telecom,
payment service provision, card personalization, public,
transportation, and retail sectors. Having won more than 30 awards
locally and internationally for card management software, digital
payment solutions, smart city applications, EMV solutions,
processing services and secure hardware products, PayCore is a
company which has exported technology to more than 35 countries as
the solution partner of more than 150 institutions. For detailed
information please visit www.paycore.com.
FISV-G
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version on businesswire.com: https://www.businesswire.com/news/home/20200217005508/en/
Media Relations: Ann Cave Director, Public Relations
Fiserv, Inc. +1 678-325-9435 ann.cave@fiserv.com
Additional Contact: Olga Małecka Marketing and
Communications Manager Fiserv, Inc. +48 22 515 31 00
olga.malecka@fiserv.com
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