Enabling mobile, fast, easy and secure payments
SINGAPORE, November 27, 2014 – First Data Merchant Solutions, First Data’s direct-to market merchant acquiring business, today announced the launch of Pogo Mobile Point-of-Sale (mPOS) solution in Singapore. The innovative payments solution enables small and medium enterprises (SMEs) to offer fast, easy and secure card payments on the go, when they would usually only accept cash.
Merchants only need to plug in the payments dongle that quickly and conveniently transforms merchants’ smart devices such as mobile phones and tablets into secure mobile POS terminals, enabling convenient and safe card payments for both merchants and customers.
The launch comes as Singaporean merchants gear up to maximize sales for the end-of-year shopping season. Year-end consumer spending is forecast to be valued at $32.3 million, with retail sales to increase 3.5 per cent year-on-year. Merchants can leverage on Pogo mPOS solution to expand their payment acceptance options, generate increased transactions and tap into the big retail season.
General Manager of First Data Merchant Solutions Mr Ravi Pochiraju said Pogo is especially relevant for smaller merchants looking to gain access to the growing mobile commerce market.
“Driven by the rise of mobile usage and a growing cashless marketplace, we see increasing consumer demand for card payment acceptance everywhere we go. Pogo mPOS solution will enable SME merchants to respond to this rapidly growing demand for payments on the go and compete in the busy retail period.
“Smaller merchants often face the challenges of high overhead, tight cash-flow cycles and mobile sales locations. The Pogo mPOS solution cost-effective, simple and reliable solution to these merchants, enabling them to move away from cash-only payments, open up more transaction opportunities and enhance customers’ payment experience,” he said.
The SME market remains an important driver in Singapore’s economy. SMEs make up 99 per cent of enterprises in Singapore and contributes to nearly half of national GDP. Ensuring SMEs have access to flexible, convenient and secure payment solutions is part of First Data Merchant Solutions’ commitment to empower merchants to drive growth and thrive in the evolving world of commerce.
“First Data is pleased to be able to partner with and support Singapore retailers as they look to accommodate consumers demand for mobile payments during the year end spending season. We’re very excited to bring the product to Singapore and we expect it to help empower more businesses here,” said Mr Pochiraju.
The Pogo MPOS features a number of benefits including:
- Security: Pogo features the highest level of security certification - EMV Level 2 - while maintaining a simple user experience. Cardholder data is never stored on the mobile devices so consumers can enjoy a more flexible and secure payment experience.
- User-friendly mobility: a convenient, secure, low cost solution that enables payments on the go and drives new business opportunities through higher customer engagement. No additional phone line is required as it uses the merchant’s existing mobile phone connection.
- Quality, speed and flexibility: a thoughtfully designed and rigorously tested card reader that is able to withstand thousands of transactions. Payments can be processed in real time, resulting in the fast and efficient funding of merchants’ bank accounts.
About First Data
First Data is a global technology leader in the financial services industry. With 24,000 employee-owners and operations in 35 countries, the company provides secure and innovative payment technology and services to more than six million merchants and financial institutions around the world, from small businesses to the world’s largest corporations. Today, businesses in nearly 70 countries trust First Data to secure and process more than 2,000 financial transactions per second, totaling $1.8 trillion a year. First Data’s unparalleled infrastructure, scale and partnerships go “beyond the transaction” with next-generation point-of-sale technology fueled by powerful analytics to detect fraud, gain insights into consumer spending, and strengthen customer loyalty. All day, every day, First Data helps its clients thrive in the evolving world of commerce.
This is a press release.