Mastercard pilots new cloud-based POS acceptance tech

Currently, Mastercard’s Tap on Phone solution is in 16 markets across Europe, Asia Pacific, Latin America, North America, and Middle East & Africa

Mastercard POS

Mastercard pilots new cloud-based POS acceptance tech. Source: pexels.com

In collaboration with Global Payments and NMI, Mastercard has launched its initial cloud point-of-sale acceptance technology.

Mastercard users can accept and pay using its Tap on Phone technology using a tablet or an Android smartphone.

The company is now working with Computer Engineering Group, an IT service provider to develop a cloud version that will access software on Microsoft Azure.

Cloud POS is essential as it moves essential parts of the acceptance software that enhances major security functions not forgetting the processing of contactless transactions from a smartphone to the cloud.

This will not only reduce maintenance and development costs but will also build scalable dissemination channels and establish strong security.

We continue to see an accelerating shift to digital payments, with businesses of all sizes wanting to provide swift, secure, compelling point-of-sale experiences. Cloud POS enables us to make these experiences available to our partners with greater speed and efficiency. Our partners are the center of everything we do, and our trusted technology powers innovative experiences, choice, flexibility and certainty, creating the products they need. Mastercard’s Cloud Tap on Phone delivers on our promise of ground-breaking products and innovation
Milan Gauder, Global Head of Mastercard’s Acceptance Solutions Group

Cloud POS will also be used in the provision of value-added services to businesses and also customers. This is a new channel for Mastercard alongside its partners.

In a move to encourage processors, acquirers, and fintechs to co-create and innovate new cloud products, the pre-certified Cloud POS SDKs will be openly available.

The move comes as Mastercard looks to continue the acceleration of digital products to provide compelling, secure, and swift point of sale experiences.

We’ve reported that Mastercard and B2B platform EnKash partnered to expand the acceptance of commercial cards across India.

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