The advent of mobile card readers, have revolutionized the way payments are accepted at small to mid-size merchants and those on the move. Many people give credit to Square, and other players who made things super easy and fast from onboarding merchants to accepting payments to reconciliation. Card readers have helped many small and medium sized businesses to receive credit/debit card payments with minimal investment in infrastructure.
ROAM Data, an mPoS company from Boston, MA competes with the likes of Square, Payleven, etc. Established in 2005, ROAM Data claims to provide end-to-end solutions, covering the entire spectrum of mobile payments requirements. ROAM was co-founded by Michael Arner and John Rodley. ROAM is currently headed by Ken Paul, CEO of ROAM.
Since its inception, ROAM Data has raised $ 41.5 Mn in funding from investors like George Wallner and Ingenico. In 2012, Ingenico ventures increased their investment in ROAM to have a controlling stake in it. With this partnership, ROAM can leverage on Ingenico’s wide presence in 125 countries and around 17 Mn terminals. Among ROAM’s key customers include Groupon, Stella & Dot and Visalus, amongst others. ROAM also acts as a payment gateway provider.
ROAM claims that its major strength over its competition lies in the breadth of applications and features. The other key differentiator of ROAM’s business model is that, unlike Square and Paypal, it is a white-label m-commerce service provider. Other card reader providers target small and medium business but ROAM claims to provide their offerings targeting both small and medium business users and enterprise users. Unlike some of its competitor offerings, ROAM’s customers can rebrand and market the solutions under their own brand. One of key points through which ROAM differentiates itself from the competition is through providing an inbuilt secure encryption process, as part of the solution.
ROAM’s offerings include Hardware, Applications and Tools that support mobile payments. They offer card readers, software and analytics to merchants to accept payments, process and understand the customer behavior. A detailed description of ROAM’s offerings can be found here.
LTP View: With Ingenico, ROAM may have come up with one of the most secure mPoS solution in the market. Some of the recent developments at ROAM include their partnership with Subway to accept payments over PoS terminals and Blackbaud’s decision to choose ROAM to accept credit card payments.