Payments

Apriva Partners With Miura Systems to Deliver Additional Functionality to MPOS in the US

MEDICI

Apriva, the leading provider of secure end-to-end wireless transaction and information solutions, has partnered with Miura Systems, a UK-based mPOS platform provider for product integration. Apriva said that the integration will certify Miura’s M010 hardware to Apriva’s AprivaPay Plus mPOS application.

AprivaPay Plus is a white-label mPOS application that turns an Apple or Android device into a mobile point-of-sale. The application is ideal for small and micro merchants. The application is utilized by three of the nation’s top five banks. Apriva claims that the solution delivers highly sophisticated analytics capabilities to brands, enhanced reporting features to merchants via an online web portal, iPhone 6/iOS8 compatibility and compliance with Americans with Disabilities Act (ADA) regulations.

Miura’s M010 is a chip-and-PIN card reader which comes with Bluetooth connectivity and works with smartphones, tablets and other Bluetooth-enabled devices. The card reader is compatible with a range of peripherals including cash drawers, receipt printers, barcode readers, cradles and wraparounds. The device can operate in a fixed (USB-connected) or mobile mode whilst paired to a mobile device or a bespoke tablet wraparound.

On integrating AprivaPay’s white-label solution with Miura M010, merchants will be able to process EMV and NFC-based payments. Miura’s chip-and-PIN capabilities will provide merchants the ability to accept both chip-and-signature and chip-and-PIN cards. Apriva’s any-to-any connections provide the most comprehensive network of payment partners available in the US. This will provide merchants with the ability to choose the partners for payment acceptance that make the most sense for their business. Additionally, AprivaPay Plus comes with a merchant portal that allows merchants to track and manage inventory, run and export sales and tax reports, create users, and open customer support tickets while on the go.

As chip card acceptance grows, the market will demand more versatile mobile point-of-sale solutions. There is currently a gap in the market for a comprehensive solution that addresses EMV, chip-and-PIN, NFC and other emerging technologies,” said David Riddiford, President at Apriva. “Partnering with Miura allows us to not only fill that gap but provide the ability to adapt with market needs and provide an all-in-one, future-proof mobile commerce solution to customers.”

As discussed in one of our earlier posts, we are going to see a lot of momentum in the mPOS market in the US. The adoption rate of EMV and NFC is still significantly low, and a major portion of small and micro merchants are viewed as vulnerable to miss the October, 2015 liability shift deadline. Major POS manufacturers like NCR and VeriFone have already made their intentions clear about mPOS through partnerships, mergers and acquisitions. The small and micro merchant segment looks to be a sizable opportunity for all POS manufacturers. We strongly feel that in the next few months, we will witness many more strategic partnerships and M&As in the card acceptance segment. Even Apple, the world’s largest smartphone manufacturer, has partnered with Square which will launch Square Reader this fall. The reader will enable small businesses to accept Apple Pay.

A recent report by GrowthPraxis puts the number of mPOS terminals in the US to be around 3 million. The research team at GrowthPraxis also estimates that that more 4 million mPOS terminals will be added to the US market in the next four years.

MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI team who collaborate to create FinTech insights.

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