Mastercard trials ‘smartphone payments terminal’
Written by Anthony Strzalek
Mastercard has unveiled a pilot project in Poland, which will make a smartphone the only device necessary for a merchant to accept contactless payments in their store.
The solution, which is being developed in partnership with Elavon, Polskie ePłatności and Mobeewave in Poland, is aimed at small and micro merchants that have traditionally taken cash payments, providing them with a simpler and more secure way to run their business.
A recent study commissioned by the Polish Foundation for Development of Cashless Payments found that among entrepreneurs that had given up card or mobile payments, 36 per cent did so because of the associated costs. The new technology aims to address this.
Participating businesses only have to install a dedicated mobile app and create a merchant account in it, and no separate payment terminals or other equipment is needed.
The pilot is expected to start this autumn and to last until the summer of 2018. The first stage will involve 200 small and micro businesses from all over Poland, with the number expected to grow to 500.
In the pilot phase, the limit for each transaction accepted by a mobile device will be PLN 50 (£10), which is the contactless payment limit in Poland without the need to enter a PIN.
Bartosz Ciołkowski, country manager, Poland, at Mastercard, said: “Mastercard is committed to enable every connected device to accept payments – and I am delighted that Poland is the first country where this latest innovation in payment technologies is being tested.
“Poles have proven many times that they are open to innovations in trade and finance, and Poland needs such solutions on its way to become a cash-lite economy. I am proud that together with our partners we can contribute to making yet another technological leap in payments.”
Rafał Gołębiewski, country manager, Poland, at Elavon, added: “Innovations such as this can help streamline processes, increase service availability, and reduce time and costs, benefiting small merchants and consumers. As our customers are enthusiastic about adopting new technologies, we work together with our partners to create a digital payment environment using mobile devices.”