Designed as a retail fraud-buster, chip and PIN has brought an unexpected twist to POS evolution – it has put the payment terminal in the hands of the consumer; creating a unique customer touch-point. Few would argue that payment devices are now a powerful part of the overall retail experience. While speed, security and reliability are vital; so is the ability to make transactions easier, more convenient and also rich in appeal for a population whose attitudes towards technology have changed dramatically since the introduction of EMV. 

Few would argue that payment devices are now a powerful part of the overall retail experience. While speed, security, reliability and performance are increasingly vital; so is the ability to make transactions easier, more convenient and also pleasurable for a population whose attitudes towards technology have changed dramatically since the introduction of EMV.  To win, in an increasingly competitive market, today’s devices need to be fast, safe AND rich in appeal.

New Consumer Attitudes

Firstly, there is a “pocket-based” revolution taking place in payments. Consumer adoption of multiple card formats including contactless payment cards, multi-application payment cards, prepaid gift and loyalty cards are all fuelling the growth of advanced electronic payment devices.  This and consumers’ increasing familiarity with sophisticated handheld devices – from mobile phones to games consoles – is transforming how retailers engage at the Point of Sale (PoS). 

To keep pace with the revolution taking place, retailers need to continually evolve their POS estates. The same drive for convenience, security, and flexibility will push future investment in new card acceptance devices.

As retailers assess their options, one thing is clear, they cannot afford to replace their POS estates with ‘like for like’ terminals.  Most realise that today’s techno-savvy consumer will soon want more from their in-store experience. Here’s our checklist of the most important PIN entry device (PED) pre-requisites today.

  • Colour displays for visual appeal
    To deliver dazzling promotions and create a completely different, dynamic and compelling user experience with lots of flexibility for new revenue generating applications.
  • Touch screens for ease of use
    To literally put new capabilities at the fingertips of the sales assistant or consumer – providing new easy-to-use selling points and capturing the attention of consumers just like a PDA or a smart phone.
  • Intuitive interfaces for better functionality
     Integrated graphical user interfaces combined with colour displays simplify navigation and eliminate the need for hard function and ATM keys which can be confusing and take up valuable space on the payment device.
  • Faster processors for more responsive performance
     If you want stellar performance for next generation applications you need the fastest processor in the industry - ARM 11. Current ARM9 or ARM7 processors are simply not powerful enough to drive new counter-based services.
  • More memory for more capability
    Just a year ago, 6MB of memory was typical for most payment devices. Today, VeriFone offers up to 15 times more to meet the needs of current and future generations of POS applications. More memory opens up revenue-generating opportunities such as telco top-up, loyalty and gift card as well as add-ons such as return/exchange to lower business costs.
  • Integrated contactless for more convenience
    Integrated contactless helps retailers’ lines move faster by minimising the use of cash for low value sales.
  • PCI security and beyond
    Conforming with the latest PCI PTS standards is required for all PEDs, retailers can also go the extra mile with end-to-end encryption and physical tethering to lock down the POS environment against almost all security threats.

All of these are powerful tools to engage consumers and staff more effectively; to open the door to new revenue streams; to create more flexible bespoke services and more integrated powerful solutions. 

And all are available now in VeriFone’s new VX 820 PIN pad. Delivering colour, touch, memory and speed, we believe the VX 820 represents a new step change in retail POS systems that will enrich and redefine the whole customer experience.

With greatly expanded memory and eight times more processing power than traditional payment devices, the VX 820 can drive integrated, multiple applications for adding value. It also offers contactless capability, with NFC support and advanced security features including PCI PTS compliance. Based on VeriFone’s proven VX (Verix) platform, the VX 820 offers easy access to existing applications and toolkits for integration to existing systems. 

The benefits are clear. With an impactful and intuitive colourful display and graphical and touch interfaces, VX 820 enhances branding, delivers dazzling promotions and creates a dynamic and compelling retail experience with lots of flexibility for new revenue generating applications. The VX 820 is also robust and durable with enhanced lifecycle performance that delivers outstanding return on investment.

Download VeriFone’s newest white paper Enriching the Payments Interface for Modern Consumers at www.verifone.com/about-us/press-room/white-papers.aspx