The point of sale now fits in your pocket: why SoftPOS has banks and acquirers paying attention
The payment technology industry is experiencing a disruptive shift that all banks and acquirers need to watch. Winning in your market requires that you know payment technology is becoming software-based rather than hardware-based. Market analysts see current adoption and predict phenomenal growth of software-based point of sale (SoftPOS) in the coming years.
Grand View Research expects the SoftPOS market in North America to grow at a 21.7% compound annual growth rate (CAGR) from 2025 to 2030, increasing from $102.0 million to $324.30 million by the end of the forecast period. Micro and small businesses are the largest revenue-generating segment and are expected to contribute the most growth through 2030.
However, businesses and enterprises of all sizes can benefit from this flexible, easy-to-use solution for contactless payment acceptance.
Why SoftPOS Adoption is Skyrocketing
With SoftPOS, merchants can use commercial off-the-shelf (COTS) mobile devices and handheld computers to accept contactless payments. No separate payment terminal is required. The Payment Card Industry Standard Security Council (PCI SSC) has published the Mobile Payments on COTS (MPoC) standard, building on the Software-based PIN Entry on COTS (SPoC) and Contactless Payments on COTS (CPoC) standards, which address security requirements for accepting contactless payments on smartphones or other mobile devices. The standards also address the development, deployment, and maintenance of these solutions.
But adoption is about more than using a mobile device for multiple purposes and accepting secure payments. SoftPOS removes some of the complexity from payments. Setup is quick and easy. Acquirers give their merchants a link to download their SoftPOS application on their mobile devices, and merchants can begin accepting contactless payments, anywhere: on the sales floor, tableside in the restaurant, or on the road when providing ridesharing, field sales, or delivery services. SoftPOS creates a “payment terminal in your pocket” that merchants can leverage to provide on-the-spot service, improve cash flow, and enhance customer experiences.
What Makes Ingenico SoftPOS Different
Although several SoftPOS solutions are available, Ingenico stands apart with several advantages for banks and acquirers:
- One of the first SoftPOS solutions to receive PCI (Mobile Payments on Commercial Off-the-Shelf) MPoC certification
- Support for both Android and iOS devices
- Next-Gen AXIUM NX8 devices that banks and acquirers can offer merchants as company-owned devices for SoftPOS applications
- Supports all major payment methods, including contactless cards, digital wallets, and QR code payments
- Integration with existing acquirer platforms and broader payment ecosystems
- White-label options for bringing your SoftPOS solution to market quickly
- Cloud management capabilities
Ingenico SoftPOS also allows banks and acquirers to take solutions to market tailored to the merchants’ environment. It is easy to connect with the merchant’s existing point of sale (POS) systems, so the value of the purchase automatically appears in the SoftPOS app. Employees, even new hires, catch on quickly, after just a short video training session, how to handle SoftPOS transactions.
Banks and acquirers who choose Ingenico SoftPOS will also benefit from a partnership with Ingenico, a global leader in payment technology. The Ingenico SoftPOS team maintains the solution so that consumers and merchants always have smooth, secure contactless payment experiences. And as SoftPOS is just emerging on the payments landscape, Ingenico is aware that current use cases are only the beginning of how merchants across all segments will use the technology. Ingenico knows partnerships and collaboration are the best way to innovate, solve problems, and meet market demands.
SoftPOS Success Stories
Ingenico has partnered with numerous acquirers and fintechs to develop SoftPOS solutions. Working with Samsung Electronics America, Inc., and Talus, a fintech provider of integrated payment technology, Ingenico helped to bring a modern tap-to-pay solution to market. The Talus mobile app, leveraging Ingenico SoftPOS, turns Samsung near-field communication (NFC) devices into payment terminals. The solution also allows merchants to download other essential apps to the device, so merchants have access to inventory management, customer relationship management, and data analytics in addition to contactless payment on a single device.
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Partner for the Win
With Ingenico, you can write your own success story. Our solutions are designed to perform and engineered to secure every transaction at scale. Ingenico SoftPOS will help you stay on the cutting edge of the market as payments transform, and the Ingenico team will support you as you innovate.
Choose to partner with a payments technology company with solutions engineered for trust, designed for excellence, and built to power the future of payments.
Contact us to learn more.
