Clover Point of Sale Now Processing Chip-and-Pin
As the point of sale world scrambles to get ready for the October 15th 2015 shift of liability, deep pockets and determination are proving to be big aids in getting a product EMV certified. About ten days ago we ran a story on Highline, which was our first reported installation of an actual working EMV solution. Today we have another. Clover began shipping it’s new Clover Mini and Clover Mobile – working products that process chip and pin cards – about a week ago. The products are now actually in the field and running according to the company. Both Highline and Clover are processing through First Data (the compay name seems appropriate, doesn’t it?).
These last few years have brought a major push by payment processing companies into the Point-of-sale space. For decades, processors had more or less left POS alone. In the last five years however, factors such as the availability of cheap money, declining yields on alternative investments and growth in debit and credit card use have motivated payment processors to take marketshare in the point of sale arena.
Companies from every corner have moved to grab a piece of the payment stream. A matter of nickels and pennies perhaps, but a virtual river of them flowing perpetually. Such is the state of the market today – and as a result, we write today about Clover, a division of First Data that is active in the POS space with it’s own hardware and software solution. First Data acquired Clover roughly two years ago.
First Data processes over 1.4 trillion dollars in payments, in over 70 countries, and is the largest payment processor in the world. It handles 2,000 transactions per second, and 59 billion transactions per year. (source – www.FirstData.com).
Availabilty – the Clover website (Clover.com) – shows that the item is available through most of the major bank branches in my neighborhood.
“Clover is sold by major banks such as Bank of America, Citibank, PNC, SunTrust, and Wells Fargo, as well as by over 3000 others in the US. You can also purchase Clover from small business suppliers like Sam’s Club and Restaurant Depot as well as from many independent merchant services providers, such as First Data’s Ignite Payments division.” (Source: https://www.clover.com/buy) .
Written by Craig Aberle
There is a lot happening in the payment processing world right now – be sure to scan these articles: