German mobile payment company Payworks announced the launch of its new gateway technology that enables developers to integrate payment card readers into the POS across in-store and mobile channels.
By using the payment solution, Payworks said, its customers will have access to the latest payment technologies, such as EMV chip-and-PIN cards, contactless and mobile wallet payments.
“With the exponential growth of eCommerce and mCommerce payments, the area of improving in-person payments was left untouched by payment technology providers, mostly due to the massive infrastructure changes required to upgrade outdated systems and the increasingly high security standards imposed by the card schemes,” the company said in a press release.
“With Pulse, Payworks introduces an open, cloud-based payment processing infrastructure, which is open for innovation, easily accessible and pre-certified for developers and merchants,” the statement continued.
Christian Deger, cofounder and CEO of Payworks, added: “The official launch of Pulse is a very important milestone for our company. Pulse will create fantastic opportunities for our partners and clients, both technically, as well as commercially.”
The move comes at a time when payment processors and businesses alike are preparing for the estimated $43 billion mPOS market that’s expected to take place by 2022. The global mPOS market will quadruple in the next four years to have 54 million installed units. And a lot of different things that are at play will prop up the industry in getting there — adoption in newer verticals, financial inclusion efforts in growth economies and ease of use.