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You have already have a POS terminal in your pocket/briefcase, you just need an adapter

Square were the first to develop an adapter (1) to enable the mobile phone to accept card payments(2), and also convert the iPad (3) and the iMAC (4) into a POS terminal:

Source & Copyright©2012 - Square

and they even worked out how to accept signatures for proof of identity:

Plus they had the systems and services behind this flashy technology to provide a complete and very competitive merchant acquiring service.

Now everyone is following their example with many different variations, recent examples include:

  • MasterCard joins EUR25m iZettle funding to get at their technology which technology turns mobile phones into card payment terminals:
  • Datatec, who supply all the Apple stores with the iPod covers that turn them into POS terminals, have just launched the PPad1sleeve that covers the iPad with either a 1D or a 2D autofocus bar-code scanner and readers for magnetic stripe and contact chip cards:
  • UK-based payment processor HSBC Merchant Services has launched a eMerit mobile device which enables merchants to accept card payments on the go. The new device turns smartphones and tablets into mobile card payments terminals, allowing merchants and retailers to take payments from customers.

The cheapest POS terminal is your converted mobile phone or tablet. Quite soon many people will carry an adapter to turn their mobile phone or iPad into a POS terminal. It is easy to envisage a sales person/waiter making their pitch on the iPad and then saying 'I can take payment now.' Mobile e-commerce really is coming.

This item appears in the following sections:
Payments - Collecting at POS
Collecting Payments via Mobile
Order-to-Cash Cycle in WCM


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