Presenting SoftPOS – A Solution that Turns Smartphones and Tablets into a Contactless Payment Terminal

First Data, now part of Fiserv, a leading global provider of payments and financial services technology solutions, together with Visa, a global leader in digital payments, and Samsung Electronics, will showcase the company’s new Software Point of Sale (SoftPOS) solution during IFA 2019. IFA is Europe’s largest technology fair and the leading showcase for the global technology industry.

SoftPOS enables contactless payments of any amount via a smartphone or tablet, in the same way a traditional payment terminal functions but with no additional equipment. SoftPOS enables this functionality on an everyday mobile device using embedded near-field communication (NFC) functionality. The merchant’s phone will accept contactless transactions from existing contactless cards, other NFC-enabled mobile phones, or other NFC-enabled devices such as wearables and key fobs. A SoftPOS pilot will take place in Poland by the end of 2019. The pilot program will expand thereafter, initially in the EMEA and APAC regions.

In addition to international cooperation in implementing SoftPOS in the EMEA and APAC regions, each of the participating companies contribute technology to make SoftPOS one of the most advanced payment solutions in the world. Visa’s contactless capability enables quick and secure contactless transactions. Fiserv ensures swift and secure settlement of transactions via a simple and intuitive mobile app, and Samsung Electronics, in partnership with Samsung Knox, provides multi-layered security protocols in both hardware and software, as well as providing a vast array of the most innovative mobile devices.