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mPOS player Square launches merchant analytics tool

mPOS specialist Square has launched Square Analytics, a merchant analytics tool, as part of its Register service. Square Analytics derives actionable data from merchants in order to increase sales. Square Analytics integrates the full suite of Square Register products including Pickup, Invoices, and Appointments. Building on the sales data to which Square sellers already have access, the new mobile-optimised Square… Continue reading >>

Square to extend cash advance service

mPOS player Square is extending its small business cash advance financing programme after securing investment from Victory Park Capital. The Square Capital programme is aimed at small businesses using its Square Register technology, meaning they do not have to go through an application process. Instead, Square analyses the processing volume and history data it holds on its users to determine… Continue reading >>

mPOS player SumUp closes funding round

European mPOS specialist SumUp has closed a double-digit million dollar Series C funding round led by Russian fintech venture capital fund Life.Sreda. Existing investors, including Groupon, BBVA Ventures and various VC firms, also participated in the round. The funding will be used to expand SumUp’s technology and push its recently launched chip and PIN reader, which in a European first,… Continue reading >>

Heartland acquires mPOS firm Leaf

Payment processor Heartland Payment Systems has acquired Leaf, a US-based mPOS start-up. Financial terms of the deal were not disclosed. Heartland initially paid $20 million for a majority stake in Leaf in September 2013 but has now bought the remaining minority interest. The acquisition shows how the fast-moving mPOS market is heating up, following the news earlier this week that… Continue reading >>

Amazon launches mPOS

In a widely anticipated move, Amazon.com has unveiled a $10 mobile point of sale device (mPOS) and mobile app for brick-and-mortar businesses, marking the latest step by the US online retailer to expand its presence in the physical world. The move places Amazon in a crowded market, including startup Square, which popularized a payments dongle that allowed small- and mid-sized… Continue reading >>

SPECTRA Technologies achieves PCI PTS 4.0 for CREON terminal

SPECTRA Technologies has achieved the approval of the highest level of security requirement, PCI PIN Transaction Security (PTS) 4.0., in its payment terminal CREON. SPECTRA has become the world’s second vendor (first in Asia) to receive the latest PCI PTS 4.0 certification. The PCI PTS 4.0 certification applies globally and focuses on increasing the robustness of devices by requiring compliance to the… Continue reading >>

Retail malware: PCI-DSS is part of the problem

When the Payments Card Industry Data Security Program (PCI-DSS) was first introduced in 2004, the move was in response to a series of breaches that demonstrated how exposed credit and debit card information could be at retailers, large and small, that hadn’t properly considered cyber security. The standard, which has been widely criticised as a prescriptive and expensive tick-box exercise,… Continue reading >>

Merchants demand integrated POS

A growing number of merchants want more from their point of sale (POS) systems than basic payment processing. Instead of just a terminal, today’s POS is packed with software applications that enable store owners to manage their entire business on the same device they use to accept payments A number of factors are driving the surge in integrated payments –… Continue reading >>

Point of Sale (POS) forecast report

At 93% of total US retail dollar volume, the point of sale (POS) retail market towers above the online market and will continue to do so for years to come. But the growing popularity of the digital realm has fundamentally altered the nature of the POS, as brick-and-mortar retailers have had to embrace elements of mobile and online channels in… Continue reading >>

Backoff! POS malware

The US Department of Homeland Security today issued an advisory alert to businesses concerning the existence of Backoff, a new point-of-sale malware which infiltrates retail computer systems. The alert, issued on Thursday, states that Backoff has been spotted three times in forensic investigations since late 2013 and continues to operate today. The U.S. Computer Emergency Readiness Team said Backoff goes “largely… Continue reading >>