SoftPOS made simple.: Key considerations for developing and deploying SoftPOS payment technology.

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Transport ticketing has rapidly evolved in the digital age. As recently as the 1990s, closed loop systems based around paper tickets or tokens were the norm. This resulted in a poor user experience. Lines to purchase tickets were often long, and turnstile throughput was inefficient. Today, passengers can use a smartcard or even their phone as their ticket, utilizing contactless and Near Field Communication (NFC) functionality to tap-and-go.

Fintechs aim to challenge traditional financial services thinking with the use of innovative technologies. In doing so, they can often provide a better user experience than entrenched methods. These improvements include speeding up transactions, lowering the number of rejected payments, giving greater insight into finances and creating more seamless payment processes.

The trend towards biometric authentication has been further accelerated by the global pandemic. Hygienic touchless identification solutions have become critically important. And, with customers already familiar with using biometric solutions on their phones, the growth of this industry only looks to continue. In this blog we will evaluate this growth and discuss some of the potential opportunities and challenges that lie ahead.

Digital payments have sky-rocketed in popularity as consumers have sought new, more hygienic ways to pay. SoftPOS payments offer numerous benefits to consumers and merchants alike. Comprised of software solutions that run on Android Commercial Off-The-Shelf (COTS) devices, they can enable digital payment acceptance in a cost-effective and simple way.

In today’s frequently changing payments landscape, stakeholders are embracing new technologies to reflect shifting consumer behaviors. One such technology is SoftPOS, a solution which uses Commercial Off-The-Shelf (COTS) devices to accept contactless payments. In fact, 41% of small business owners are investigating the possibility of accepting payments via mobile device.

In this Q&A, we speak to Pierre Aurel, Product Manager at Synthesis, to learn more about how Fime supported them to achieve the first automated Mastercard TEI accreditation for a new SoftPOS solution.

With the global digital payments market set to be worth some $8,059.3 billion by 2023 , at a CAGR of 20%, payments are undergoing a rapid period of growth and transformation.

New payment methods, such as real-time payments, initiatives such as open banking, and technologies like as biometrics, all contribute to a constantly evolving ecosystem. The potential for innovation and optimization is clear.

But if this value is to be realized, players must first ensure the security and interoperability of new products and technologies. A robust certification process is one way to achieve this.

The Japanese payments market has long been something of a paradox. On the one hand, Japan boasts the third-largest economy in the world and is a culture synonymous with high-tech and innovation.

In this Q&A, we speak to Pierre Aurel, Product Manager at Synthesis, to learn more about how FIME supported them to achieve the first automated Mastercard TEI accreditation for a new SoftPOS solution.

As None [1] data breaches continue to rise globally, protecting the integrity of customer data (especially in the payments world) is vital. One essential security standard helping keep such data sec...

As None [1] data breaches continue to rise globally, protecting the integrity of customer data (especially in the payments world) is vital. One essential security standard helping keep such data sec...

In this Q&A, we speak to Pierre Aurel, Product Manager at Synthesis, to learn more about how FIME supported them to achieve the first automated Mastercard TEI accreditation for a new SoftPOS solution.

It’s estimated that None [1] more than 2 billion people today own an NFC-enabled device, and we’re seeing more industries take advantage of the contactless technology. More consumers are using NFC-ba...

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