Mastercard has partnered with NMI and Global Payments to launch its first live Cloud POS on Phone pilot with Computer Engineering Group (CEG).
In Q3 2020, contactless penetration represented 41% of in-person purchase transactions globally, up from 37% in Q2 and 30% a year ago.
With Tap on Phone, any business – regardless of size – can deliver contactless consumer experiences using a device they already own: a smartphone.
Tap on Phone uses an Android smartphone or tablet turning it into an acceptance device, allowing businesses to accept contactless payments minimising the need to invest in hardware terminals or extra features.
With the introduction of Cloud 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 moves key parts of the acceptance software – the components which enable the processing of contactless transactions and certain security functions – from the individual smartphone to the cloud, offering robust security, reducing development and maintenance costs, and creating scalable distribution channels by allowing immediate connectivity to partners.
Mastercard will make its pre-certified Cloud POS software development kits (SDKs) openly available in multiple cloud environments, encouraging solution providers, FinTechs, acquirers and processors to innovate and co-create new cloud-first products. The pilot with CEG represents the first live deployment of Mastercard Cloud Tap on Phone anywhere in the world.
“We continue to see an accelerating shift to digital payments, with businesses of all sizes wanting to provide swift, secure, compelling point-of-sale experiences. Cloud POS enables us to make these experiences available to our partners with greater speed and efficiency,” says Milan Gauder, Global Head of Mastercard’s Acceptance Solutions Group.