CenPOS certifies with Apple Pay and Google Wallet

cenpos payments logoCenPOS certifies with Apple Pay and Google Wallet, supporting the mobile payment technology on select multi-lane devices. Miami, FL (PRWEB) February 23, 2015.

CenPOS, a payment technology provider, today announced that it has certified Apple Pay and Google Wallet to its payment-processing platform. This new certification marks another milestone for CenPOS in its quest to provide their customer base around the globe with a rich payment acceptance offering. The Apple Pay and Google Wallet payment options are supported by CenPOS on the Verifone and Equinox multi-lane devices. Apple Pay and Google Wallet are transforming the mobile payment space for consumers and businesses alike by making it easy and secure for all parties.

The adoption of mobile payments continues to grow in record numbers. There are only 1.3 billion active credit and debit accounts globally, but considering that there are more than 5 billion active mobile phone accounts, there is potential for widespread application of mobile payments, according to Omlis, a global mobile payments solutions provider. Mobile transactions have almost doubled since last year, now accounting for 17% of transactions made. Juniper Research predicts that this trend will continue to rise and will reach 450 million mobile payment consumers by 2017. The global adoption of mobile payments is on an upward curve, but traction is dependent on consumers’ access to technologies, varying lifestyle choices, and economic factors.
“We are delighted to bring these new services to our clients and enable them to offer their consumers with new and innovative payment options” commented German Gonzalez CenPOS’s Co-Founder and Chief Technology Officer. “Today we are one of the very few payment processors in the US that is both EMV and 3D Secure certified. We continue to drive our products, services and solutions to meet merchant, consumer and partner needs. Our entire team is passionate about delivering value and value add services to our clients; more importantly, always being on the leading edge of technology”, added Gonzalez.
About CenPOS
CenPOS is a merchant-centric, end-to-end payments engine that drives enterprise-class solutions for businesses, saving them time and money, while improving their customer engagement. CenPOS’ secure, cloud-based solution optimizes acceptance for all payment types across multiple channels without disrupting the merchant’s banking relationships. For additional information please call 877.630.7960.

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For CenPOS sales and software integrations, contact Christine Speedy, authorized CenPOS global reseller. 954-942-0483

What is NFC, and Will It Really Take Off?

Near field communication, or NFC, allows for simplified transactions, data exchange, and wireless connections between two devices in close proximity to each other, usually by no more than a few centimeters. NFC has three uses:

  1. Connect electronic devices
  2. Access digital content
  3. Contactless transactions

NFC has been available with MasterCard Paypass for years. NFC can be used for mobile phone payments, in conjunction with an electronic wallet. Google launched it’s Google Wallet in early 2011. There are significant limitations at this time, however, Google developed the operating system for the Android smart phones and recently also purchased Motorola Mobility Holdings Inc. for $12.5B. With that heavy investment, plus Visa and MasterCard’s push, we can expect some adoption of the technology.

Will NFC become the US standard for mobile payments? I have my doubts. Visa announced incentives for merchants to offer NFC in August 2011.  I predict that there will be heavy penetration in US market for chip-enabled credit cards but that chip enabled mobile payments may remain elusive as the leading mobile solution. SMS can be used with any cell phone and wouldn’t it be better to reach everyone, rather than the minority few worldwide that have the ‘right’ device? Plus, at this point, there is not even consensus on NFC standards. With Google controlling manufacturing, we can expect they will exert some control over future standards.

  • Merchants will need to buy or update equipment. Most units retail for over $700 per unit, excluding a receipt printer.  Major department stores may have the capability, but most other businesses do not.
  • Merchants need to interface with technology to process the transactions. For example, CenPOS.
  • Consumer needs to have an NFC device. Smart phones only account for 1 in 4 mobile phones as of 2011. NFC capable smart phones is a tiny fragment, with the first units just being tested mid-year 2011.
  • Japan is arguably the most advanced cell phone market on earth, yet NFC is not widely used. Instead SMS is king.

Is NFC secure? This is an age old argument. NFC is not new technology but then again,  the US infrastructure for payment processing has had little to no innovation in the last three to four decades. Personally, I’m not trusting NFC with my cell phone.

Is NFC good for merchants? Yes. Merchants may benefit in the future if interchange is adjusted lower to reflect the purported lower risk associated with EMV chip credit and debit cards. Additionally, Visa is waving PCI DSS, however, MasterCard and American Express have not offered the incentive.

 

Recommended Articles

Is NFC Secure Enough?
NFC is way overhyped, says mobile payment leader Sybase

Credit Cards to become obsolete? by CBS News
NFC (Near Field Communications) – Was this near sighted?, by Oracle

Approved Contactless EMV reader Products, by EMVco, which is owned by American Express, Visa, JCB, MasterCard et al to maintain global standards.

What merchants and consumers need to know about Google Wallet

For businesses and consumers, we share with you some insights in our Google Wallet review.  What you need to use it, what it will cost, and our recommendation.

For consumers to use Google Wallet to pay at checkout you will need ALL of these elements:

google wallet phone citi paypass

  1. Download Google Wallet free app.
  2. A Citi MasterCard credit card with Paypass capability.
  3. An app-specific activation PIN that you must get from Citi.
  4. Sprint Nexus S 4G with tamper proof chip, dubbed the “secure element” by Google.  (In the first release, all payment card credentials will be encrypted and stored on a chip, called the secure element, that is separate from the Android device memory and is only accessible by authorized programs.)
  5. A merchant that with equipment enabled for Paypass.

If you have all of the above, then instead of whipping out your credit card, you’ll be able to enter your PIN number to enable or ‘open’ the application, then wave in front of the merchant Paypass reader.

If you have not registered your MasterCard credit card with Paypass capability to use with the Google Wallet,  you can still charge up to $100 if you have all the other elements complete.

For merchants to accept Google Wallet at checkout you’ll need a terminal capable of accepting Paypass. This is typically an add-on option for many signature capture terminals.

Card present interchange rates will apply.

BACKGROUND:

  1. Google Wallet is currently field testing, but will become available to consumers this summer.
  2. Google Wallet stores virtual versions of credit cards and coupons on a phone.
  3. It will also store loyalty and gift cards in the future.
  4. Google Wallet is separate from Google Checkout, and can be thought of as the brick-and-mortar counterpart to the online payment nature of Google Checkout.
  5. At first, Google Wallet will only be available on the Nexus S 4G by Google from Sprint, but Google will expand it to other devices/platforms in time.
  6. Google Wallet will support Citi PayPass eligible MasterCard credit cards and the Google prepaid card upon launch, but will support more in the future.
  7. Users can pay with Google Wallet anywhere MasterCard PayPass is accepted, currently about 124,000 PayPass-enabled merchants nationally. These include American Eagle Outfitters, Bloomingdale’s, Champs Sports, The Container Store, Duane Reade, Einstein Bros. Bagels, Foot Locker, Guess, Jamba Juice, Macy’s, Noah’s Bagels, Peet’s Coffee & Tea, RadioShack, Subway, Toys“R”Us and Walgreens.

COMMENTS:

What does it cost merchants to accept MasterCard PayPass cards? It will depend on the interchange qualification. Paypass can be added to any US account holder.  Citi is promoting two CitiCards with paypass online. They are both rewards cards.  World Elite Merit 3 Base is most likely the qualified interchange rate for those cards which is 2.2% and $.10 per transaction. This is at the top of the range for consumer credit card interchange rates, which start as low as 1.05% for MasterCard debit.  As a merchant,  they currently get nothing in return for accepting Paypass cards now. With Google Wallet, there is the opportunity to get value with coupons and other features offered. About 60% of MasterCard transactions are rewards cards and the balance debit in basic retail operations.

Here’s why I won’t be getting a Google Wallet now and probably never:

I’m definitely a techie and an early adopter of some tech products.

  • I don’t have a Paypass.  Like most Americans, I use Visa more than MasterCard,  by about a 3:1 margin. (Note: changing credit cards regularly can lower your credit score, causing an increase in insurance premiums and other items.)
  • I don’t have the Sprint Nexus. I use an iPhone and I’ll never switch to Sprint even if I change phones. (Though AT&T could buy Sprint making that a moot point. )
  • As a consumer, I don’t buy the fact that this will replace my wallet. I’ll always need to carry my drivers license, therefore I’ll always have my wallet.
  • Big Brother Google.  Google won’t have access to my specific purchases (or so they say) but there are multiple points of data collecting and data pushing going on by multiple parties in order to send me timely offers etc. The is  largely unregulated terrain with unknown future consequences. Sorry, but I’m not opening the door to make it easier to collect more data about me or my buying habits.

I am interested in new payment technology involving my cellphone, but this is not the one.

Merchant recommendations: If you’re not leveraging the value add of Google Wallet marketing features, then consider what is the ROI for adding new equipment to support it.

Consumers: If you already have a MasterCard and the phone, see if you can add Paypass to it. I’d still hold off a few months before adding Google Wallet though to wait and see what bugs are reported.

Related article
Google, Citi, MasterCard, First Data and Sprint team up to make your phone your wallet

 

Citi with Arc Design are registered service marks of Citigroup, Inc. MasterCard is a registered trademark and PayPass is a trademark of MasterCard International Incorporated.

Google Wallet to enable pay with phone at retail stores

Google, Citi, MasterCard, First Data and Sprint team up to make your phone your wallet

Google Wallet will enable consumers to tap, pay and save with their phones

May 26, 2011, New York, NY

At an event today, Google, Citi, MasterCard, First Data and Sprint announced and demonstrated Google Wallet, an app that will make your phone your wallet so you can tap, pay and save money and time while you shop. For businesses, Google Wallet is an opportunity to strengthen customer relationships by offering a faster, easier shopping experience with relevant deals, promotions and loyalty rewards.

“Today, we’ve joined with leaders in the industry to build the next generation of mobile commerce,” said Stephanie Tilenius, vice president, commerce and payments, Google. “With Citi, MasterCard, First Data and Sprint we’re building an open commerce ecosystem that for the first time will make it possible for you to pay with an NFC wallet and redeem consumer promotions all in one tap, while shopping offline.”

Google Wallet is currently in a field test and will be available to consumers this summer. At the event, Google, Citi, MasterCard, First Data and Sprint introduced Google Wallet and invited additional issuing banks, payment networks, mobile carriers, handset manufacturers, point of sale systems companies and merchants to join the initiative.

Next Step in Mobile Payments

At commercial launch, Google Wallet will support payments with two payment solutions: a PayPass eligible Citi MasterCard and a virtual Google Prepaid card. Most people who already have a PayPass eligible Citi MasterCard can simply add it to Google Wallet over the air, using First Data’s trusted service manager service. Or, they can fund the Google Prepaid card with any payment card.

Google Wallet uses near field communication (NFC) to make secure payments fast and convenient by simply tapping the phone on any PayPass-enabled terminal at checkout.

Google Wallet is engineered to enable secure payments and goes beyond what’s possible with traditional wallets and cards. It will require an app-specific PIN and in the first release, all payment card credentials will be encrypted and stored on a chip, called the secure element, that is separate from the Android device memory and is only accessible by authorized programs.

“Citi’s role as the lead bank in Google Wallet is the latest demonstration of how we are committed to becoming the world’s digital bank, providing to customers the tools they need to manage their everyday finances with convenience and value,” said Paul Galant, CEO, Citi Global Enterprise Payments. “Today’s announcement and our active collaboration with Google will be looked at as the inflection point for how mobile payments are evolving from concept to mass utilization.”

Accepted in Stores Nationwide

Google Wallet is built to work with the fast growing MasterCard PayPass network—a merchant point of sale service that enables consumers to tap to pay. As a result, Google Wallet will immediately be accepted at more than 124,000 PayPass-enabled merchants nationally and more than 311,000 globally.

“MasterCard has pioneered mobile payments with our PayPass technology and we’re proud that it is at the heart of Google Wallet,” said Ed McLaughlin, chief emerging payments officer, MasterCard. “We’re excited to partner with these industry leaders today and committed to continuing to play a leadership role in the development of mobile payment technologies.”

Google is also working with point of sale systems companies and top retail brands to create a new SingleTap shopping experience. Consumers will be able to pay for an item using a credit card or gift card, redeem promotions and earn loyalty points—all with a single tap of their Google Wallet. Google is working with VeriFone, Hypercom, Ingenico, VIVOTech and others to develop these next generation point of sale systems. Retailers participating in the new SingleTap experience include: American Eagle Outfitters, Bloomingdale’s, Champs Sports, The Container Store, Duane Reade, Einstein Bros. Bagels, Foot Locker, Guess, Jamba Juice, Macy’s, Noah’s Bagels, Peet’s Coffee & Tea, RadioShack, Subway, Toys“R”Us and Walgreens.

“Google Wallet allows us to harness the power of mobile technology to enhance our in-store shopping experience and helps bridge the gap between our online and in-store consumer interactions,” said Martine Reardon, executive vice-president of marketing and advertising, Macy’s. “Macy’s is always looking for cutting-edge technology that will deliver value and engage our customers in personal ways. Google Wallet delivers this unique interaction across channels.”

The first Google Wallet field tests are focused in New York and San Francisco, where many retailers, Coca-Cola vending machines and even taxis are PayPass-enabled, including major outlets such as CVS, Jack in the Box, Sports Authority and Sunoco. First Data, a global leader in electronic commerce and payment processing, is actively recruiting thousands of new merchants in these areas and will soon expand those efforts to deploy more contactless merchant terminals across the country.

“The payments industry has known for some time that it was not a question of if, but when true mobile commerce would become a reality. We believe today is the day that mobile meets payments,” said Ed Labry, president, North America, First Data. “We’re proud to play a central role in Google Wallet and to bring innovative technology such as Trusted Service Management and contactless acceptance to our clients.”

Saving Made Simple

Google has also been testing a variety of consumer deals that can range from a 20-percent discount on a new pair of boots discovered on a Google search advertisement; to a $5 off check-in offer received upon entering a store; to a “deal of the day” offering a $20 lunch for $10 at a local restaurant. Whenever you buy or save an offer, you will be able to automatically sync it to Google Wallet.

At most stores you will be able to use Google Wallet to show your offer at the register, where the cashier will either scan it or manually type it in. At participating Google SingleTap merchants, you will be able to pay and redeem an offer with one tap of your mobile device.

Because Google Wallet is a mobile app, it will eventually be able to do more than a regular wallet ever could—but without the bulk. Google Wallet will start with offers, loyalty and gift cards but some day items like receipts, boarding passes and tickets will all be seamlessly synced to your Google Wallet.

Open Commerce Ecosystem = Consumer Choice and Innovation

Google Wallet will work best if it’s an open commerce ecosystem so you will be able to carry all the credit cards, offers, loyalty and gift cards you choose—and eventually much more. To this end, Google Wallet will make it possible to integrate numerous types of partners, and Google, Citi, MasterCard, First Data and Sprint invite the banking community, mobile carriers, handset manufacturers, merchants and others to work with Google Wallet.

“We are delighted to be the first carrier to sign on as a partner with Google to deliver Google Wallet,” said Fared Adib, senior vice president of product development, Sprint. “As a leading innovator and proponent of “open,” we are proud that Nexus S 4G is the first smartphone with Google Wallet and we look forward to deploying Google Wallet on many of our upcoming Android phones.”

The first release of Google Wallet is expected to be released on the Nexus S 4G on the Sprint network. Additional devices with NFC capabilities will follow. Sign up to be notified about the release at google.com/wallet.

About Google Inc.

Google (NASDAQ: GOOG) is a global technology leader focused on improving the ways people connect with information. Google’s innovations in web search and advertising have made its website a top internet property and its brand one of the most recognized in the world. For more information, visit www.google.com/about.html.

About Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. Additional information may be found at www.citigroup.com.

About MasterCard

As a leading global payments company, MasterCard (NYSE: MA) serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants and cardholders worldwide in more than 210 countries and territories. For more information, please visit us at www.mastercard.com. Follow us on Twitter: @mastercardnews.

About First Data

Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.

About Sprint

Sprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint Nextel served more than 51 million customers at the end of 1Q 2011 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; offering industry-leading mobile data services, leading prepaid brands including Virgin Mobile USA, Boost Mobile and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. Newsweek ranked Sprint No. 6 in its 2010 Green Rankings, listing it as one of the nation’s greenest companies, the highest of any telecommunications company. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.