Remove CHIPS Remove eWallet Remove Point-of-Sale (POS)
article thumbnail

xPressTap: mPOS Without The Dongle

PYMNTS

Instead of a dongle, micromerchants download an app which turns their NFC-enabled phone into a point of sale (POS) system in minutes. The POS is capable of doing business with anyone who has a contactless card or NFC-enabled smartphone. First, users can have a customer tap their EMV chip card directly on the phone.

article thumbnail

Understanding Electronic Funds Transfer (EFT)?

Nanonets

Here are some of the most common: ACH (Automated Clearing House) Transfers Wire Transfers Credit Card/ Debit Card Transactions as EFT Mobile Payments Electronic Checks (eChecks) Point-of-Sale (POS) Payments Direct Deposits Recurring Payments EFT accounts can be checking or savings.

article thumbnail

Understanding Electronic Funds Transfer (EFT)?

Nanonets

Here are some of the most common: ACH (Automated Clearing House) Transfers Wire Transfers Credit Card/ Debit Card Transactions as EFT Mobile Payments Electronic Checks (eChecks) Point-of-Sale (POS) Payments Direct Deposits Recurring Payments EFT accounts can be checking or savings.

article thumbnail

Samsung Pay: From Mobile Payment Method To Commerce Enabler

PYMNTS

Two years ago, when Samsung Pay entered the mobile payments scene, it did what Apple and Android a year before it had not: It made mobile payment capabilities at the physical point of sale (POS) more or less ubiquitous right out of the gate. That, Ahn said, made something on the order of 10 million merchants throughout the U.S.

article thumbnail

Online Commerce And Crime Keep Pace

PYMNTS

have seen a 70 to 73 percent shift in criminal activity from retail point-of-sale (POS) settings to online channels. For example, eWallets have created a whole new “in” for criminals by letting them bypass the EMV chip reader at physical POS terminals. To a card reader, this counts as a swipe transaction.

Crime 44