Poynt Raises $28M To Ship ‘Smart’ Payment Terminals

Former head of Google Wallet and longtime PayPal senior executive Osama Bedier is ready to bring the “world’s first smart terminal” to the mPOS landscape.

These days, Bedier holds the title of founder and CEO of Poynt, the maker of a new payment point of sale terminal designed to accept both old and new payment methods, ranging from magnetic stripe credit cards to mobile wallets.

Poynt announced yesterday (Oct. 22) that it will begin shipping its Smart Terminal with the help of a $28 million Series B funding round, which enabled the company to accelerate manufacturing, grow its team and scale operations.

The Poynt Smart Terminal builds upon the trend of tablets being used as the point of sale, featuring two touch screens, the ability to integrate with existing payment systems and the ability to accept the latest payments technologies, which Poynt said makes it a “future-proof multi-purpose device.”

The company also announced that both the hardware and software of its Smart Terminal received PCI PTS, PCI-DSS and EMV certification.

“Many said that certifying the Poynt Smart Terminal would be impossible because of the complexity involved with introducing such a fundamentally different payment terminal — two screens, touch PIN pad, connectivity, computing power, third-party apps — but we worked closely with the certification bodies so that we could deliver a device with the highest level of security that also meets the needs of today’s merchant,” Bedier said in a press release. “The Poynt Smart Terminal offers functionality that was previously unimaginable in a remarkably sleek, simple, and affordable device. With certification, Poynt can now give millions of merchants their iPhone moment,” Bedier added.

For more on the mobile point of sale (mPOS) ecosystem, click here to take a look at our PYMNTS.com mPOS Tracker, which provides an organizing framework for evaluating the many players that have entered the mPOS sector for all mobile devices

To check out what else is HOT in the world of payments, click here.