Ingenico is the global market leader in point of sale (POS), with a successful 45-year history and more than 40 million terminals deployed in 120+ countries worldwide. However, the company made an interesting move a few years ago. Jason Stanchfield, North American Business Development for Ingenico SoftPOS, explains that the company now offers Ingenico SoftPOS, which allows merchants to accept contactless payments on the NFC-enabled mobile devices they already use in their operations, with no separate payment terminal or device required.
In a Pulse of Payments: Swipe Right on SoftPOS: Unlocking Payment Freedom episode, a Leaders in Payment Podcast, Stanchfield says to understand SoftPOS, think of a digital wallet on a smartphone. Consumers unlock their phones and click on the mobile wallet, and then click again to pay. He says SoftPOS reverses the process. Instead of paying with an app, it lets merchants receive contactless, tap-to-pay payments on mobile devices.
The Future of Payments Ease
Stanchfield says among its many advantages, Ingenico SoftPOS is easy to implement and use. When merchants choose to move forward with SoftPOS, they contact their payment partners and receive an email with a link to install the app, which takes only a few minutes. They can immediately launch the application and tap the “dollar sign” symbol to accept a payment. Merchants can integrate Ingenico SoftPOS to their point of sale systems, so the value of a purchase automatically populates in the payment app. No user intervention is required to take a payment with Ingenico SoftPOS, and a short video is all that’s necessary to train employees to use the app.
Stanchfield points out, however, that Ingenico and its partners take care of everything behind the scenes to enable secure payments and the functionality that merchants need for smooth transactions. Ingenico handles all certifications and encryption keys for its partners. Ingenico also equips partners with a dashboard to manage the solution, for example, giving users the ability to issue refunds or voids, as needed, and to track which devices are using the solution.
Vast — and Growing — SoftPOS Use Cases
Stanchfield says one of the most obvious places where Ingenico SoftPOS can provide value is among remote and mobile sales forces. With SoftPOS, a landscaper, home repair company, or other field service provider can quickly and conveniently complete transactions on-site. However, merchants will find many more uses and advantages for payment solutions leveraging this technology.
Retailers who want to maximize revenues by participating in off-site events traditionally had to pack up a point of sale terminal and find a way to power it in a pop-up location to accept payments. “(SoftPOS) does it all without any worries,” Stanchfield says. “It’s a payment terminal in your pocket.”
Partners can also customize Ingenico SoftPOS, tailoring it to each market or niche, from transportation service or personal trainers to accepting payments for fundraisers. Large businesses and enterprises can deploy Ingenico SoftPOS as a line-busting tool or to assist customers anywhere in the store to enhance experiences with fast, convenient contactless payment transactions. But how merchants use Ingenico SoftPOS today just scratches the surface.
Stanchfield points out that with fewer consumers carrying cash and the rise of Gen Z consumers, all signs point to a transition to all-digital transactions in the future. He says to expect solutions from Ingenico partners that deliver smooth, software-based payments that eliminate payment friction. Payments will move to the background, enhancing commerce with greater ease and convenience for consumers and merchants.
For more insights on Ingenico SoftPOS from Stanchfield, listen to the full Leaders in Payment Podcast episode: Pulse of Payments: Swipe Right on SoftPOS: Unlocking Payment Freedom.
