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"Banks are working with fintech companies to provide
this capability to their customers," he said, noting that
open-loop technology makes the process as simple
as can be for a customer, enabling mobile tellers and
concession sellers to accept payment. "It's not a case
of fintechs competing with banks," he added. "Banks
have the customer relationships and are simply adding
our NFC technology to their white label solutions."
From tethered to mobile peripherals

EMV technologies are widely available in quick
service restaurants but pose challenges in fine dining
establishments. Restaurateurs are reluctant to ask
diners to leave their tables and walk to a POS to pay
by chip card. And diners have become uncomfortable
releasing credit cards to strangers, noted John
Wethington, CEO at MySensitiveData.com Inc.

"In the 'demand economy,' no one wants to flag down
a waiter or hand over a card that could be skimmed or
stolen," he said. "It's becoming unnatural to physically
get rid of your card because the card represents a
gateway to your money."

Todd Brokenshire, co-founder and CEO at payment
solutions provider AdaptPOS, saw a need for restaurant-
friendly, mobile EMV. He said restaurateurs want to
be EMV-compliant but find existing EMV-certified
products cumbersome. "There's nothing elegant about
bringing an EMV reader on a three-foot-long cord to
the table," he pointed out. He launched AdaptPAY, an
untethered, mobile EMV reader that uses Wi-Fi, 4G and
3G. Compatible with any POS system, the peripheral
solves for security without disturbing the restaurant's
flow, he said.

"We're one of the new disruptors working with Android,
which is basically Linux with a specific interface," said
Richard Bennett, co-founder and Chief Information
Officer at AdaptPOS. "Our software communicates
to the cloud to enable bi-directional communication
while protecting POS from illegal entry."
From proprietary to open source

Now that countertop card terminals share an
increasingly crowded field with mobile devices,
integrated POS systems and commerce-enabled
appliances; manufacturers are revisiting device
architectures and strategy. In recent years, Ingenico
Group has expanded from a single focus on secure
payment transactions to include other forms of
connected commerce.

"We've evolved into a conversation that balances the
need to securely accept payments with the need to run
a business," said Scott Holt, Vice President Marketing
and Product, North America at Ingenico Group.

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