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February 18, 2020updated 25 Feb 2020 12:04pm

Fiserv solution enables merchants to use mobiles to accept payments

By Evie Rusman

First Data, now part of Fiserv, has launched a new solution with Visa enabling merchants to use their own devices to accept payments.

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The service allows businesses to accept PIN-based contactless transactions without the need for a separate card reader or PIN-entry device. In addition, the move is expected to boost the worldwide use of smartphones and tablets as point-of-sales terminals.

John Gibbons, EVP and head of EMEA at Fiserv, said: “The way people want to pay is changing. Contactless CHIP and PIN payments are common. However, over 23 million micro merchants in Europe alone may lack terminals to accept them. We’re making sure no merchant is left out and helping them do business in the cashless economy by turning the smartphone into a card acceptance device.”

Earlier this year, Fiserv completed its first PIN on mobile payment via the app-based solution in collaboration with Visa, Samsung, and PayCore. Following testing, the solution is being piloted in Poland, with plans to expand in the EMEA and APAC regions.

Pay using contactless

First Data’s solution is currently available on select Samsung devices and allows customers to pay using contactless devices.

Marcin Garbarczyk, Marketing and Strategy Director at Samsung Electronics Polska, said: “This innovative service is a milestone for modern entrepreneurs. It will allow Samsung mobile users to do more than just pay with their phones; it will let them accept payments in places and situations where it might have been impossible otherwise.”

Furthermore, Visa approved the solution to authorise contactless payments with PIN capture through its Visa tap to phone programme.

Katarzyna Zubrzycka, Head of Merchant Sales & Acquirer, Central Eastern Europe, Visa, said: “With Visa tap to phone technology with PIN capture capability merchants of any size, especially those operating outside of their premises – like plumbers, landscapers or couriers – will now be able to accept digital payments on their phones in a fast, safe and convenient way.”

 

 

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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