IMPACT REPORT: 451 Research Weighs in On Ingenico’s mPOS EMV SDK

The evolution of the POS led to the founding of mPOS which revolutionized the world of payments. Among many benefits, mPOS enables merchants to accept multiple forms of cashless payments anywhere. Whether it is within the store in the aisle or even out on the streets at a farmer’s market, merchants are no longer limiting themselves to accepting just cash as payment. According to a report by 451 Research the global mPOS installed base will grow at a CAGR of 32 percent between 2015 and 2019 – exceeding 54 million units by the end of that time frame. With this growth in sight, retailers, ISVs, and developers need to think about integrating payments into their innovative business applications. A big obstacle for these ISVs and developers is the EMV migration. The long and expensive process of EMV certification delays an ISV’s go-to-market plan for their solution. What these ISVs and developers need is a power SDK to do the heavy lifting of these certifications for them.

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Speeding Up EMV

A big complaint merchants hear from cardholders using their EMV chip cards at stores is that they think it’s slow - the transaction takes a long time to process when compared to magstripe. The process of swiping a magstripe card is perceptually faster as the customers swipe their cards and immediately put it back in their purse/wallet as the purchases are totaled, and the terminal works on processing the transaction. However, in an EMV transaction, cardholders insert the chip card and wait patiently as it authenticates the payment. Even though EMV adds only a few seconds more to the transaction, the perceived wait time is much slower from the point of view of the customer as the chip card stays in the terminal longer.

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