Startup Poynt Modernizes Traditional Credit Card Terminal
While some companies like Square try to change the way credit card transactions are processed, a new startup company called Poynt is aiming to upgrade traditional point-of-sale terminals for the modern world.
This solution comes at the perfect time as the United States market shifts to EMV credit cards.
Poynt looks like the sleek older brother that standard credit card keypads always wanted to be. It features two tablet-like screens, one that acts as a register for the merchant and the other that acts as an option screen for the consumer. While both sides run off the same holder, their data is encrypted independently. Just enough information changes hands to authorize the transaction, and nothing more.
Poynt is capable of accepting almost any credit card payment, including Apple Pay, Google Wallet, chip-and-PIN cards, CurrentC and soon-to-be-obsolete magnetic strip cards. The terminal features a QR scanner so it can scan loyalty cards and other payment options in the future. Poynt runs off the Android platform, and it can function with the help of several different apps emerging onto the market.
“Store payment technology has been built around what is basically a glorified calculator. Instead of creating another calculator, we felt we could do better. We could do for merchants what the smartphone did for consumers.” Osama Bedier, Poynt’s founder and CEO, told Gigaom.
Poynt is currently available for preorder at $299, plus shipping. Orders are scheduled to be sent out in early 2015.