EMV Technology required for 2015: Poynt sells the hardware at cost

Poynt, a start up by Osama Bedier, a PayPal executive who is also a former Google Wallet head, is producing a “future-proofed” payment terminal that combines an Android-based tablet with a hardware docking station, which they are making available for their cost.

It claims to support all modern payment technologies, including traditional magstripe cards, EMV ( Europay – Mastercard – VISA, which can use an integrated chip on the card and a PIN entered by the customer ), NFC (Near Field Communications which is similar to RFID — you tap your phone, which must have NFC capabilities, on the payment terminal to transfer funds – for example Google Wallet and Apple Play), Bluetooth, QR codes (you get your code on your phone and show it to the terminal screen then the terminal reads it), and beacon technology, in an all-in-one device sold at cost.

The customer’s account information is encrypted immediately by the device and never stored or saved in unencrypted form, a security requirement of EMV which will be requisite starting in 215.

http://techcrunch.com/2014/10/29/former-google-wallet-head-launches-poynt-a-future-proofed-payment-terminal/

The development Kit will be shipped December 2014 and a payment of $552.66 is required to order the full kit or $335.16 to order the terminal hardware only here:

http://techcrunch.com/2014/10/29/former-google-wallet-head-launches-poynt-a-future-proofed-payment-terminal/

The terminal is supposed to run eight hours on a battery, can be connected to building LAN, and can be carried by roaming employees to complete sales immediately on the sales floor without the customer needing to wait in a checkout lane.

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