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Fiserv-owned First Data completes PIN mobile transaction with Visa

Fiserv’s First Data has, together with Visa, Samsung and PayCore, completed a PIN solution enabling merchants to use smartphones and tablets as point-of-sale terminals.

The first-of-its-kind product is being piloted in Poland, with plans to expand to the EMEA and APAC regions, is expected to boost worldwide use of smartphones and tablets as terminals as it allows merchants of any size to use their own devices to accept payments, removing the need for additional hardware.

Fiserv said the product is ground-breaking for small businesses and service providers that operate remotely because it allows them to accept PIN-based contactless transactions without the need for a separate card reader or PIN-entry device, using embedded near-field communication (NFC) functionality.

This will open new market opportunities for the merchants, including micro-businesses, who will be able to accept non-cash payments of any amount.

“The way people want to pay is changing,” John Gibbons, Executive Vice President and Head of EMEA at Fiserv, said. “Contactless CHIP and PIN payments are common, yet 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.”

LISTEN: Fiserv’s Peter O’Halloran discusses the rise of digital commerce

The solution is currently available on select Samsung devices, and payments can be made with contactless cards, NFC-enabled mobile phones, or other NFC-enabled devices such as wearables.

Marcin Garbarczyk, Marketing and Strategy Director at Samsung Electronics Polska, commented: “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.”

Visa approved the solution to authorize contactless payments with PIN capture through its Visa tap to phone program.

“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,” said Katarzyna Zubrzycka, Head of Merchant Sales & Acquirer, Central Eastern Europe, Visa.

Turgut Güney, CEO of PayCore, noted that the company provided EMV software to facilitate transactions. “We are sure that this disruptive technology will boost the use of smartphones and tablets as POS terminals in the market, enabling card-present transactions of any amount to be carried out in a secure environment.”

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