Instantaneous transactions on mobile devices
Initially developed in beta in June 2011, Singapore based SCCP Payment Services is launching Swiff, an Asian competitor to the mobile POS space currently occupied by Square, PayPal and iZettle (view press release). The solution allows users to carry out instantaneous transactions on mobile phones and tablets by swiping a card through the device. Like iZettle, the solution is EMV compliant, all data is encrypted throughout the transaction and never stored on the device. Swiff claims it is the only solution that enables merchants to track specific devices and the corresponding location of where payments were made.
“Mobile payments in Asia Pacific are projected to rise to $267.8 billion by 2016, backed by the rapid acceptance of mobile banking services across the region,” says Jerome Cle, co-founder and CEO of SCCP Payment Services. Etienne Van den Bogaert, Chief Operating Officer, explains that Swiff’s key markets include “the F&B sector, telecommunications, logistics and hospitality, as well as the millions of businesses throughout the world, including developing countries, that have traditionally been locked out of the lucrative credit card transaction market due to the high cost of implementing a credit card terminal.”
The solution is compatible with iOS, Android and Blackberry devices and is due to be released for Windows soon.
Whitepapers
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