O2 launches UK’s first Chip and PIN mobile POS service and targets small businesses
O2 has launched a new Mobile Point of Sale service (mPOS), with Visa Europe and Global Payments, which allows retailers to accept credit and debit card payments via mobile using a low cost chip and PIN Pad accessory that connects to the retailer’s existing Android of Blackberry smartphone or tablet via Bluetooth. iOS is coming soon.
A free eMerit app downloaded on the mobile or tablet manages the card payment transaction, and then sends the customer a receipt via email and/or SMS if required.
MD of O2 Money, James le Brocq explains: “At O2 we understand the importance of the mobile device in digital payments. Our new mPOS service has the ability to transform the revenues of smaller businesses and sole traders by offering their customers the ability to pay with Visa or MasterCard credit or debit cards as an alternative to cash.
“mPOS is the latest addition to our portfolio of financial products and services which includes mobile insurance, tablet insurance and more recently, O2 Wallet, an innovative new service designed to digitise your physical wallet onto your mobile.”
Chris Davies, Managing Director of Global Payments, adds: “We are excited to be working with O2 on such an innovative product and we’re really looking forward to working together to provide SMBs with access to new payment opportunities.”
Sandra Alzetta, Senior Vice President of Mobile at Visa Europe says: “This latest innovation is an exciting partnership for Visa, O2 and Global Payments. We want to unlock the value of electronic payments for smaller retailers - by getting this device into the hands of tradesmen, home-based businesses and market stall operators, we believe we can help them sell more products and services to consumers who forgot to withdraw enough cash."