SoftPOS, also known as software point of sale (POS) or tap-to-pay, allows more merchants to accept contactless payments in more places. Merchants using a mobile device enabled with near-field communication (NFC) can download the SoftPOS app and turn a Commercial Off-The-Shelf (COTS) device, like a smartphone or tablet, into a payment terminal. Transactions are simple for consumers and merchants, but much planning and coordination take place in the background to bring this option to market reliably and securely. In the Swipe Right on SoftPOS: Unlocking Payment Freedom episode, Mike Barnes, Sales Director and Head of Banks and Acquirers at Ingenico, explains the steps and benefits of implementing Ingenico SoftPOS.
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Bringing a SoftPOS Solution to Market Securely
The Payment Card Industry Security Standards Council (PCI SSC) published the Mobile Payments on COTS standard to ensure the highest level of security with SoftPOS payment solutions. Barnes explains that solutions are lab-tested to ensure they meet all security standards before certification.
He adds that SoftPOS uses the same payments infrastructure as contactless EMV payments and validates transitions similarly.
Ingenico SoftPOS also checks the health of the device the merchant is using, for example, whether the camera is open or it’s running potentially harmful software, to keep the consumer’s data safe.
A challenge with SoftPOS is ensuring secure and user-friendly experiences on a wide range of COTS devices. However, Barnes points out that Ingenico built its SoftPOS solution to be device agnostic. Any device running the correct Android or iOS operating system and with NFC technology can accept payments with Ingenico SoftPOS.
First Steps to SoftPOS Payment Implementation
To make Ingenico SoftPOS available as a point of sale, banks, acquirers, or enterprise merchants begin by completing an intake document with the information that will guide the project plan and define what Ingenico will deliver. One of the advantages of working with Ingenico is that partners have options to customize their SoftPOS solution in several ways.
Barnes stresses that implementation timelines vary, even within these options.
When it’s time to deploy, Ingenico offers tools that streamline deployment. “We provide a provisioning API that reduces time to market and helps deploy quickly and effectively,” Barnes says. Partners also have the option to leverage Ingenico’s payment estate management tools to send the SoftPOS app directly to merchants’ devices.
Benefits of Ingenico SoftPOS for Partners
Ingenico SoftPOS gives merchants the freedom to accept tap-to-pay payments anywhere for line-busting and even continuing to transact if the network is down. However, the benefits to acquirers, ISVs, enterprise retailers, and other Ingenico partners can be equally - if not more - impactful. SoftPOS eliminates the need to manage terminals from purchase and shipment to configuration and setup, saving time, decreasing costs, and making scaling easier.
Ingenico also offers a true partnership, listening to feedback and using it to guide development.
For more information on Ingenico SoftPOS, Barnes recommends downloading the white paper SoftPOS: Where Are We Now?
The Pulse of Payments Series is sponsored by the Leaders in Payments Podcast and Ingenico. For more insights from Barnes, listen to the entire episode, Swipe Right on SoftPOS: Unlocking Payment Freedom.
