TransNational Payments, a payment solutions and merchant services provider, has introduced mobile card readers to provide secure and fast payments for merchants.

The new products are compatible with iOS as well as Android devices, and accept both standard magnetic stripe transactions and EMV chip cards on mobiles and tablets.

Acceptance of EMV chip cards is expected to reduce chargeback liability and being Quick Chip-friendly helps in quick transactions.

The card readers are also designed to support near-field communication (NFC) technology, allowing wallet payments such as Apple Pay, Google Pay and Samsung Pay.

To ensure security and avoid fraud, the card readers encrypt sensitive card information even before it enters the mobile device. They can be easily switched between mobile, countertop and in-store.

Additionally, these readers can work with a native mobile app that has a web dashboard acting as a virtual terminal for manual transactions, real-time reporting and management of light inventory.

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In an effort to expand its payments technology services, the firm has launched a new payment API dubbed, Pi, last month to enable easy payment processing.

The Pi APi, a cloud-based platform, is designed to process real-time, card-present EMV electronic payments and e-commerce transactions. Also, the solution is equipped with machine-learning algorithms to avoid or identify any suspicious processing activity.