Samsung has announced Samsung SoftPOS at IFA 2019, the software is designed to turn your smartphone into a contactless payment terminal.
This new SoftPOS can be used on smartphones and tablets and it works just like a normal contactless point of sale terminal.
SoftPOS enables contactless payments of any amount via a smartphone or tablet, in the same way a traditional payment terminal functions but with no additional equipment. SoftPOS enables this functionality on an everyday mobile device using embedded near-field communication (NFC) functionality. The merchant’s phone will accept contactless transactions from existing contactless cards, other NFC-enabled mobile phones, or other NFC-enabled devices such as wearables and key fobs. A SoftPOS pilot will take place in Poland by the end of 2019. The pilot program will expand thereafter, initially in the EMEA and APAC regions.
“We are embracing a new era in payments – the mobility era. As contactless payments grow in popularity it is important that merchants are able to enable these payments on mobile devices. SoftPOS, has been designed to meet the current and future needs of consumers and entrepreneurs and will change the way people make daily payments, facilitating the convenient, quick, and secure processing of contactless transactions,” said John Gibbons, executive vice president and head of EMEA, Fiserv.
You can find out more information about the new Samsung SoftPOS over at their website at the link below.