The Acquiring Bank Borgun today launched a Mobile Point of Sale solution in Iceland in partnership with Handpoint.
Borgun's mPOS is tailored to address the needs of small and medium sized merchants and relies on Handpoint's secure mPOS Platform as a Service (PaaS) - the only mPOS that has achieved PCI-P2PE application certification.
Mobile POS replacing PC POS
Mobile POS is having a disruptive effect on all market segments and has proven that it is not just for micro merchants. Forward thinking acquiring banks realise this trend and are adding mPOS to their payment offerings, often replacing stand alone payment terminals.
"We want to help our customers grow. A simple & secure Mobile POS solution is a great addition to Borgun's range of payment solutions in Iceland, serving merchants that want to move from PC POS to Mobile POS along with customers that haven't accepted card payments because of cost and complexity." Haukur Oddsson, CEO Borgun
"We welcome Borgun's initiative to be the first bank in Iceland to offer Mobile POS. Iceland has served as a vital test-bed for our secure mPOS platform, giving us extremely important direct user feedback. Now as the platform is mature and we're scaling internationally it is time to move to the back seat and hand the direct merchant signups over to a strong local player and grow the user base even further. The Handpoint mPOS offering has made an impact on the Icelandic payment acceptance landscape with 91% customer satisfaction rate and 93% recommendation rate." Davíð Guðjónsson, CEO & Co-founder Handpoint
The Mobile POS solution consists of a Borgun branded payment app for iOS and Android, secure card readers and an EMV payment service. Handpoint Mobile POS is the world's first and currently the only PCI P2PE certified mPOS application. P2PE means that all card data is encrypted and PCI scope for merchants minimized. Borgun will now be able to serve the increasing number of merchants that want to move from PC-POS to Mobile POS.