Payments

Merchant360 Launches NFC at POS

MEDICI

Merchant360 Inc. started in the year 2008 is a company that delivers POS payment, loyalty and ticketing solutions. The company recently announced the release of a bi-directional NFC technology between enabled Mobile phones and POS terminals From Ingenico and Verifone.

The company has American Express, Visa, MasterCard, First Data, Chase, RBS, Verifone, Dejavoo, Hypercom and Ford motor company among others as clients. Merchan360’s other Solution brands include Mobifyer, NFCME, MobiTap.me, TapInToWin, NFCExchange, TapIntoMe, MyStoredValue, TapTagHere, LoyaltySpark, ChirpAlliance, CashMover, ConnectingSpark, Mobitranz, StadiumOrder, SmartPoster4G and ThanksDiscount.

Merchant360’s value added services have created the opportunity for any brand to work with the merchant. Their solution engages customers for multiple payments at the point of sale using open NFC standards even if their mobiles are offline. Members of Merchant360 value add service network will be using the features .Some of the value add service companies are Student edge, Sprooki and Black label solutions.

Student Edge: was founded in 2003 by students; Damien Langley, Jeremy Chetty,Simon Loader and Craig Chetty.Student edge provides Australia‘s student with free access to online student services information including health and wellbeing,study and career tools.It is virtualising its membership, offers, and participation in value transactions in readiness for scalability offshore.

Sprooki: was founded by Claire Mula  in the year 2011 .Through Sprooki retailers are able to promote and sell products /services to shoppers directly.It offers customizable local marketing platform that help malls and retailers to reduce their time and money.

Merchant360 with this solution allows for direct  transfer of receipts and issuance of coupons from POS to mobile with and without payments. “Lack of this capability has been a significant hurdle to the global adoption of NFC," said Felix Marx, CEO of C-SAM and one of the founding members of the NFC Forum. The solution is intended to help mobile payments organizations and value add services enables organizations to provide a better engagement at the point of sale using NFC technology.

The solution from Merchant360 allows for remote updating of the device when new NFC applications and formats are released allow retailer and customer with more choices.

Another company operating in the NFC Pos space is Gemalto. Gemalto was founded by Dominique Bolignano in the year 2006. Gemalto enables its clients to offer trusted and convenient digital services to billion of individuals. It offers NFC mobile contactless solutions to the users with POS which enables mobile network operators, banks, transport networks, retailers, enterprise organisations and other service providers to deliever end to end NFC experience to the users.

LTP View: According to a report by knowledgefaber about 35%+ merchants in the U.S have still not adopted any POS. There is huge potential that exists for companies like Merchant360. The companies may need focus on attracting a larger retailer base. The market also has players like Ingenico-Stratix and Vantiv-Sprint. However there are fewer players in the NFC POS space which gives Merchant360 a better opportunity.

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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