What is SoftPOS ?
SoftPOS is the new accessible payment method that simplifies contactless card acceptance.
Accessible to all types of merchants, SoftPOS is a contraction of Software Point of Sales. Card brands also mention this new payment method as Tap to Phone, Tap on Phone or Tap to Pay, depending on the deployment markets.
SoftPOS enables merchants to accept contactless payments easily and securely, turning their smartphone into contactless payment terminal and eliminating the need for extra hardware. This solution is particularly attractive to small and micro merchants as it doesn’t require any heavy POS installation. It also offers many benefits to large retailers who use it as a mobile, versatile check-out point.
How SoftPOS works ?
Business owners can easily download a “tap to phone” application on their smartphone and start accepting contactless cards. SoftPOS transforms smartphones or tablets into mobile point-of-sales machines accepting all types of contactless payment cards or e-wallets.
The tap to phone technology uses the NFC capability of the mobile device to communicate with the smartcard or digital wallet held by the consumer, gets encrypted data and performs the payment transaction, the same way a traditional card reader would.
The SoftPOS application embeds all the payment and security features crucial to securely process payment transactions on smartphones or tablets, often referred to as COTS (Commercial Off-The Shelf) devices in the payment industry.
Benefits of SoftPOS
Extended payment offering
SoftPOS is completing the range of POS and mPOS to onboard new merchants
Convenient payment solution
Affordable and easily accessible to all types of businesses, in-store, itinerants, self-employed
Easy to integrate
The logical architecture of the solution can seamlessly integrate existing payment applications
Data integrity
Confidentiality and security of the sensitive data
Advantages of SoftPOS in the payment industry
The versatile, mobile nature of SoftPOS solutions offers many advantages in many areas of the payment ecosystem. It streamlines the integration of value-added services for merchants, combining other payment methods such as QR code, loyalty programs, vouchers.
In retail
Queue bust and improve the purchasing experience
In restaurants
Multiply payment options and combine contactless payments and digital vouchers
In transports
Combine fare collection and inspection in the transportation sector
Domestic networks
Address domestic markets where digital payments and innovation constantly extend
For charity
Facilitate donation through extended payment acceptance methods
At events
Create a seamless customer experience by accepting digital payment throughout the event
Alcinéo’s SDK offers flexible options to simplify the customization of tap to phone solutions, regardless of the targeted markets.
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Photos and vectors credits : vecteezy.com