MC Launches Pilot Program Using Smartphones As POS Devices

[ChargedUp]

It seems Mastercard is trying to do away with the traditional POS terminals for some merchants. Interesting as services like Square already use a cell phone to process card payments, but the difference here seems to be just straight contactless payments vs. having to plug in a reader to your phones comm port.

https://www.pymnts.com/news/mobile-commerce/2021/mastercard-launches-pilot-program-using-smartphones... 

No word on if the exchange rates will be better than the 2.7% typical of Square.

[Getty59]

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@ChargedUp wrote:

It seems Mastercard is trying to do away with the traditional POS terminals for some merchants. Interesting as services like Square already use a cell phone to process card payments, but the difference here seems to be just straight contactless payments vs. having to plug in a reader to your phones comm port.

https://www.pymnts.com/news/mobile-commerce/2021/mastercard-launches-pilot-program-using-smartphones... 

No word on if the exchange rates will be better than the 2.7% typical of Square.

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Article didn't really elaborate much on the system. So is it just going to be like Apple pay or Samsung pay? 

[ChargedUp]

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@Getty59 wrote:

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@ChargedUp wrote:

It seems Mastercard is trying to do away with the traditional POS terminals for some merchants. Interesting as services like Square already use a cell phone to process card payments, but the difference here seems to be just straight contactless payments vs. having to plug in a reader to your phones comm port.

https://www.pymnts.com/news/mobile-commerce/2021/mastercard-launches-pilot-program-using-smartphones... 

No word on if the exchange rates will be better than the 2.7% typical of Square.

---

Article didn't really elaborate much on the system. So is it just going to be like Apple pay or Samsung pay? 

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It seems that it would accept virtual wallets as other touchless terminals do, but true that it doesn't say specifically. 

[Getty59]

It would take years to really make any impact, for example my current bank let's u use apple pay but doesn't support Samsung pay. Some merchants accept Samsung pay but can't get apple pay to work properly lol. Also the touch and go system that is catching traction seems more along the lines of what this is taking about. But funny thing is every time I try to use it my card is declined until I swipe or insert chip but my wife's works flawless. Idk new tech like this could be years before its mainstream.