SAN JOSE, Calif. -- A growing segment of mobile payment that may be less apparent to convenience store retailers is using smartphones and tablets as point-of-sale (POS) registers. VeriFone Systems Inc. announced this past spring that U.S. transaction volumes through its payments product had exceeded $10 billion--more than half of which occurred in mobile environments.
"[C-store] retailers use mobile POS to speed up lines and make the shopper experience more convenient," said Erik Vlugt of VeriFone, San Jose, Calif. "It's for high-traffic areas like the coffee station in the morning or the deli line in the afternoon."
The investment in a tablet compared to a standard $5,000 register is "a lot cheaper," he says. "It's not replacing systems, but [augmenting] them … to speed up checkout and save customers time."
Growth in mobile payments and increasing retailer demand for "cloud-based" payment services is spurring increased opportunities for its hosted payment solution, said VeriFone officials. (For more on consumer payment through mobile devices, watch for the May issue of CSP magazine.)
"The $10 billion milestone is an industry first, and clearly sets VeriFone well ahead of the competition," said Douglas Bergeron, CEO for VeriFone. "We expect continued great momentum in this exciting range of payment service offerings."
VeriFone's "PAYware Connect" gateway delivers cloud-based, PCI-compliant payment services and advanced capabilities such as VeriShield Total Protect end-to-end encryption security. The gateway service consolidates all types of payments processing and provides extensive reporting and analytics.
The company provides payment gateway services for virtually any environment, including traditional countertop and mobile card acceptance devices, consumer facing large retail checkouts, multi-media enabled pay at the pump solutions, interactive taxicab systems and new smartphone and tablet-based solutions.
VeriFone is a provider of electronic-payment technologies, including services and expertise that enable electronic payment transactions and value-added services at the POS. Its devices and systems process payment types including signature and PIN-based debit cards, credit cards, EMV smart cards, contactless, value-added applications and signature capture.
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