POS Systems With NFC
As mobile wallets and NFC-enabled smartphones become more in-demand, retailers are working out solutions on their end. Point-of-sale (POS) systems with NFC aren’t nearly as prevalent as phones, PDAs and tablets, which could prove limiting to the adoption of mobile payments.
However, with big name partnerships worldwide, the rollout of NFC-supported mobile payments is getting a boost. MasterCard and Deutsche Telekom (DT) announced this month that they will work together to bring mobile payment services to DT’s footprint in Europe, which covers about 93 million mobile subscribers. France Telecom also announced the rollout of NFC-enabled SIM cards to all new subscribers in France.
Three of the big POS system companies that are bringing NFC to retailers are VIVOtech ,VeriFone, and Ingenico.
Last year VIVOtech raised $24 million in Series C funding to further expand their NFC systems internationally. This March, VIVOtech landed more series D funding, bringing the total amount of venture capital raised to $96 million.
VIVOpay, the company’s line of contactless payments systems with NFC are used in movie theaters, fast food restaurants, grocery stores, even buses and taxicabs. VIVOtech has shipped nearly one million NFC payment readers to 328 customers in the United States and 181 customers internationally, accounting for over half of all installed NFC readers globally.
VeriFone, another major player in the POS terminal business, announced last year that all new point-of-sale hardware would include NFC technology. There are now more than one million NFC-capable VeriFone MX solutions deployed in the United States.
Recently, VeriFone and Lenovo announced the ThinkPad Mobile POS, a complete mobile point-of-sale platform built on the Lenovo ThinkPad tablet, enabled for NFC payments.
Ingenico, a global provider of payment solutions, and Chase Paymentech are offering Ingenico’s Telium iCT250 POS solution for sale in the United Sates. The terminal enables merchants to accept current and future payment types, including EMV and NFC. Ingenico has deployed over 17 million terminals in more than 125 countries.
In order to attract retailers who don’t want to upgrade their POS systems, a couple of companies have emerged with cloud-based mobile payment solutions that offer integration of any payment type.
Merchant Warhouse’s Genius accepts any NFC, EMV or QR code as well as loyalty, gift and reward programs. Paydient, a company that provides white-label mobile payment solutions, raised $12 million in Series B financing this month. Paydient supports QR codes and existing smartphone cameras, as well as NFC.