Application uses near-field communication (NFC) technology
Holland’s ING Bank is testing a new software application that turns a smartphone into a point-of-sale (POS) device, without the need for any additional hardware.
The trials are being conducted alongside Mastercard.
They are using a POS software system developed by Istanbul-based software developers Provision
Using the SoftPos application, small retailers and outdoor merchants will be able to use their mobile device to process card payments.
While payments are currently limited to the CVM (contactless) limit, Provision says it hopes to expand the amount the application can accept by using PIN on glass or other technologies.