Digital security firm MagicCube is extending its Tap to Pay acceptance platform to help enterprise and big box retailers take advantage of software point-of-sale (softPOS) technology to reduce costs, boost efficiency and provide better customer experiences, according to a Tuesday (June 7) press release.
The Santa Clara, California, company said in the release that its i-Accept platform is rolling out new attributes that include device management and easier payment card industry (PCI) compliance designed for Tap to Pay use in large and complex retail settings.
“With Apple releasing Tap to Pay as a component of its proprietary iOS operating system, it becomes more urgent to serve the 2 billion Android users that represent more than 70% of the global mobile market,” said MagicCube CEO and Co-Founder Sam Shawki in the release. “i-Accept brings a robust, enterprise-grade solution that is secure, and not tied to a specific device maker, operating system or card network — making it ideal to go beyond small and micro merchants and serve large retailers, which have a vast array of use cases.”
Among the new i-Accept capabilities are multi-acquirer and multi-merchant support from one platform and direct integration into complex systems with no impact on PCI-data security standard (DSS) scope or certification, according to the release.
It also offers flexible management of acceptance rules across numerous geographies and message translation across different standards, the release stated.
i-Accept lets acquiring banks and financial services institutions enable their large merchants and retailers to accept contactless transactions through payment cards and mobile wallets such as Apple Pay, Google Pay and Samsung Pay. It can also adapt to accept local card schemes, crypto wallets and supports buy now, pay later (BNPL) programs.
The announcement comes days after Square said it is working with Apple to enable Tap to Pay on iPhones using technology that offers sellers more flexibility at checkout.
Read more: Square Working With Apple to Enable Tap to Pay on iPhones Within POS
Square said the new feature will also offer sellers increased flexibility and an on-ramp to the Square ecosystem at checkout.
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