Master card Has partnered with Nmi And Global Payments Inc. To launch its first live cloud tap on Phone Pilot Computer engineering group (CEG), a Napa, California-based independent IT service provider. Cloud Tap On Phone is one of MasterCard’s innovative next-generation acceptance products, with software hosted Microsoft’s Azure Cloud stage.
MasterCard has been leading the transition to contactless payments for years. Demand for faster, more convenient, safer, and now more hygienic ways to pay has led to the transition to contactless, and it is a one-sided road in which consumers and businesses still end after the epidemic ends with touch-free experiences Is expected to be permanent.
In the third quarter of 2020, contactless penetration represented 41% of in-person purchase transactions globally, up from 37% in the second quarter and 30% from a year earlier. This is exactly the kind of technology trend that we expect because the restrictions can be easily seen after Kovid.
Driving digital transformation
Tap on phone technology is a classic example of a valuable digital transformation project that clearly improves experiences. With a tap on phone, any business – regardless of size – can deliver a new and best-in-class contactless consumer experience using a device they already own: a smartphone.
Tap on Phone, Android democratizes point-of-sale technology by turning a smartphone or tablet into an acceptance device, allowing businesses to accept contactless payments, requiring the need to invest in hardware terminals or additional features Decreases.
Merchants can offer advanced and quick curbside pick-up or payment on delivery, or rapid line-skipping checkout in-store, options that are increasingly important as consumers search for touch-free cash options Huh.
NMI is excited to be at the forefront of this pioneering technology. Jeremy Gumbley, CIO / CSO, NMI, who is leading the project, tells us, “Securely accepting contactless payments to an entire segment of small and micro businesses with less service than tapping on the phone Will be enabled, effectively taking High Street to wherever vendors and customers are. There is no special hardware or device other than their mobile phones. “
NMI Chief Strategy Officer Nick Starai continued, “Tap on phone technology perfectly complements the acceleration of contactless payments in the US market. This is an important step towards creating a world that allows merchants to sell their smartphones Enables to be turned into a payment acceptance device without the need for an externally added physical card reader.
Introducing Cloud Point of Sale
With the introduction of Cloud Point of Sale (POS), MasterCard is enhancing its tap on phone product and empowering ecosystem partners to develop their own cloud-based products with new tools and capabilities.
Cloud POS transfers key parts of acceptance software – components that enable the processing of contactless transactions and certain security functions – from personal smartphones to the cloud, providing robust security, reducing development and maintenance costs , And create scalable distribution channels by allowing instantiation. Connectivity for partners. Cloud POS has also become a new channel for MasterCard and our partners to bring value-added services to customers and businesses.
MasterCard will make its pre-certified Cloud POS Software Development Kit (SDK) openly available in multiple cloud environments, encouraging solution providers, fintechs, acquirers and processors to innovate and co-create new cloud-first products Will be done. MasterCard’s pilot with CEG represents the first live deployment of MasterCard Cloud Tap on phones anywhere in the world.
Milan Gauder, global head of MasterCard’s Acceptance Solutions Group, says, “We are seeing rapid changes in digital payments, businesses of all sizes want to deliver a fast, secure, engaging point-of-sale experience. Cloud POS gives us these experiences Enables to provide its partners with greater speed and efficiency.
“Our partners are the center of everything we do, and our reliable technology empowers innovative experience, choice, flexibility, and certainty, creating the products they need. MasterCard’s Cloud Tap On Phone offers unprecedented products and Fulfills our promise of innovation. “