Samsung, Ingenico and Talus Team on Mobile Payments
Samsung, payments acceptance solutions provider Ingenico and payments technology firm Talus have joined forces.
The partnership is designed to bring a “modern mobile business operating solution to the North American marketplace,” according to a Monday (Jan. 12) press release.
The effort uses Ingenico’s software point-of-sale (SoftPOS) tap-to-pay capabilities and the Talus mobile app to turn near-field communication (NFC)-compatible Samsung mobile devices into payments terminals, with no need for dedicated payments hardware, per the release.
“The three-way partnership expands access to mobile payments for North American businesses, delivering frictionless operations with more flexible ways to accept payments wherever business happens,” the release said. “Small to midsize businesses, as well as large enterprises, can accept card and digital wallet payments in-store or in the field.”
In addition to payments, the platform combines “inventory, customer management and real-time insights in one intuitive experience,” according to the release.
“Software-based payments only work at scale when security and trust are built in from the start,” Scott Spencer, president, Americas at Ingenico, said in the release. “Our collaboration with Samsung and Talus brings certified SoftPOS technology to businesses who need flexibility without compromising on security.”
SoftPOS solutions are set to revolutionize how merchants conduct transactions, according to a PYMNTS Intelligence Digital Payments Tracker Series report.
The report found that 71% of merchants said they believe SoftPOS will replace traditional terminals and that the share of merchants using SoftPOS is forecast to jump to 34.5 million by 2027, compared to just 6 million in 2022.
Technologies like NFC and EMV chips have become standard practice in helping retailers offer secure transactions that help prevent fraud and safeguard personal data.
“Customers can feel comfortable that their contactless transactions are just as secure as the contact-based transaction that they are used to,” Julie Malikayil, senior manager, payments products, at Discover® Network, told PYMNTS in June.
Mobile wallets, for instance, use tokenization, which means “your personal card information is never shared openly during a payment transaction,” Malikayil said. “Solutions are leveraging small computer chips … that generate dynamic and unique transaction codes for each payment.”
For all PYMNTS digital transformation coverage, subscribe to the daily Digital Transformation Newsletter.
The post Samsung, Ingenico and Talus Team on Mobile Payments appeared first on PYMNTS.com.