Today's guest blogger at The Point of Sale News is John Verdeschi, Senior Business Leader of Product Development at MasterCard. Mr. Verdeschi offers advice to merchants considering integrating mobile point of sale (MPOS) technology.
At MasterCard, we believe in a World Beyond Cash, and everything we do is focused on making that vision a reality. Mobile Point of Sale (MPOS) technology is a great instrument in constructing that new reality as it allows almost any small business or individual to accept payment card transactions by using their own mobile phone.
While MPOS has seemingly limitless potential for growth, it also comes with some challenges since consumer oriented mobile phones were not designed for accepting payment card transactions. And as MasterCard we are focused on ensuring payments are Simple, Safe and Smart which is necessary for a building consumer confidence and trust.
To that end, MasterCard has identified the following recommendations/quick tips for merchants considering using MPOS solutions:
1. Fully understand the security measures built into the MPOS solutions currently offered. As a merchant it’s important you understand what measures are in place to protect you – and what to do if your MPOS device is lost or stolen.
2. Ensure the MPOS solution provider has met industry standards. Ensure your consumer’s payment experience is simple and safe by using MPOS solutions that maintain the confidentiality of cardholder credentials, and build cardholder trust. MasterCard has developed a set of best practices for MPOS solutions providers and merchants, and a list of vendors adhering to these can be found on the MasterCard site at http://www.mastercard.com/
4. Make it easy for consumers to know that MasterCard-branded products are accepted. Displaying the MasterCard acceptance mark on the MPOS device and at the point of interaction establishes expectations with a consumer for a payment experience that is similar to all other MasterCard-branded transactions, and instills consumer confidence in making the purchase.
About the Author
John Verdeschi is Senior Business Leader of Product Development at MasterCard.