Telecom Lead Asia: ROAM Data, a mobile commerce platform
provider, has developed a device agnostic card reader with near-field
communication (NFC) and magnetic stripe.
ROAM Data said the NFC Swipe will work on smart phones
and tablets and even PCs, turning them into secure mobile POS devices. This
marks the first low cost solution that help proliferate adoption of NFC and contactless
technology while supporting existing mag stripe technology at the same time.
ROAM is targeting mid-2012 for full commercial release of
the NFC Swipe.
NFC comprises a set of standards for smart-phones and
other mobile devices to enable radio communication between them by touching the
devices together or putting them in close proximity to each other.
NFC capability offers merchants unique processing
flexibility; Swipe enables standard mag stripe payments for those without
contactless cards yet; and ability to connect via the audio jack makes ROAM’s
readers incredibly simple and ubiquitous across hundreds of mobile devices.
The NFC Swipe will be compatible with Visa payWave and
MasterCard PayPass specifications, the de facto standards that govern contactless
payments. The readers will work with ROAM’s card acceptance applications
ROAMpay X, as well as those of its white label partners. ROAM will also offer
an API for 3rd Parties building its own applications to leverage the secure NFC
Swipe reader.
ROAM accelerated its R&D and product
commercialization plans in the wake of last month’s investment by Paris-based
Ingenico.
Beyond our planned launch of NFC-Swipe in mid-year, we
plan to release an EMV Swipe for contact chip cards with magnetic stripe reader
in the same convenient package, as well as other turn-key virtual mobile
commerce solutions for our distribution partners such as Mobile Checkout,
Mobile Marketing, Mobile Wallet that they can offer their merchants,” said ROAM
Data CEO Will Graylin.
Since 2009, ROAM’s annual revenue growth has exceeded 600
percent per year. The company’s partner roster includes some of the world’s
largest merchant service providers, including Sage, Vantiv, North American
Bankcard, Total Merchant Services, Global Payments, First Data, and Chase
Paymentech.
