More information is coming available regarding Apple’s new mobile payments system. According to a recent post on the website pymnts.com, the Apple payment system will use tokenization as well as contactless payment based on the new point of sale terminals used in the company’s own stores. As the only full-service point of sale provider — from software development to franchise incubator to ongoing support — part of Sintel’s commitment to our customers and industry is to share ideas and information. Whether you’re a first-time franchise hopeful, a small business owner or an established chain, it’s always smart to stay on top of the latest point of sale technology and security news to achieve financial success.
Here are the highlights of the post, “Apple Mobile Payments at CVS and Walgreens”:
• With tokenization, there is no need to send payment card numbers between a merchant’s point of sale terminal and transaction systems. Instead, those details are replaced by one-time-use numerical tokens which make it much more difficult for card numbers to be captured by criminals.
• The technology is expected to use VeriFone MX 915 PIN pads, the same as currently used in Apple stores, which support both near field communications (NFC) and tokenization.
• Apple’s payment system rollout calls for replacing any PIN pads that support NFC only. Companies involved include McDonalds, Bloomingdale’s, Walgreens and CVS.
Read the full pymnts.com post here. For more insights into point of sale (POS) security, check out our related posts, Shape, Or Be Shaped By, IT, Safer Consumer Transactions May Be In The Cards, EMV Technology Chips Away at Credit Card Fraud, and Secure Your Payments, Or Pay The Piper.
Just as we share our vast point of sale experience and expertise with startup owners in order to help them make the best decisions from the very beginning, we at Sintel Systems are happy to share articles, advice and commentary about retail point of sale and security. Whether you’re a first-time franchise hopeful, a small business owner or an established chain, it’s imperative to stay on top of the latest point of sale best security practices to achieve financial success. If you are interested in learning more about Sintel’s point of sale systems and how our knowledge and support can impact your future success, call us for a complimentary phone consultation.
Sintel Systems is the only direct to end user full-service provider of tailored Point of Sale systems across retail, restaurant and service industries, including frozen yogurt shops, pizzerias, sushi restaurants, cafés and retail stores. As a single source for business solutions, our experienced, knowledgeable team negotiates the complex POS landscape for you to enable you to find the right POS system for your business and budget. Hardware – Software – Support