February 25, 2022
Fairbit, a California-based SoftPOS Solution provider, is happy to announce that it received Mastercard Tap on Phone EMV Level 2 certification for the “Fairbit Kernel-on-the-Cloud” product. With this certification, Fairbit achieved another significant milestone to enable the company to offer the best technology to its customers.
Fairbit’s Mastercard certified SoftPOS solution enables any Android device to take payments without any additional hardware. Merchants may benefit from the solution in various ways. Quick serve restaurants with large transaction volumes where checkout speeds are vital, may use the solution as a supplementary service to their existing POS devices. Merchants seeking for a cost-effective solution may use it as replacement for traditional hardware . Mobile merchants and and a lot of small businesses may use it as the only acceptance method.
The solution uses Fairbit cloud technology which performs EMV level 2 kernel operations on the Fairbit cloud. Cloud technology eliminates the overhead of maintaining a complex business logic on the hardware. The cloud technology handles acquirer key conversion abstracting POS vendors from complexity of the key operations. With Fairbit cloud technology, POS solution providers can quickly activate EMV service on the mobile phone without the burdens of hardware-based solutions.
Mastercard certified SoftPOS solution enables any business to become a SoftPOS payment solution provider easing the integration and reducing the development resources. The solution democratizes point-of-sale technology by minimizing the investment and effort needed to get into the payment business.
The solution runs on the Google Cloud platform leveraging the full advantage of cloud technology. It is designed to instantly update EMV kernel and EMV parameters without downloading to terminals.
Mastercard certified SoftPOS solution uses Cloud-based EMV Level 2 kernel which offers many benefits. Having all EMV transaction data in the cloud provides an excellent opportunity for data analytics, monitoring, and reporting. Mastercard certified SoftPOS solution provides real-time monitoring of EMV transaction data (EMV tags, APDUs, etc.), enabling payment vendors to be notified about transaction issues immediately in real-time. It provides advanced reporting and monitoring services to the benefit of payment terminal vendors, merchants, acquirers, and other players in the payment industry.
The solution is developed with the SDK model to give the maximum flexibility to POS application to drive the transaction flow and user experience. With a few calls of Fairbit SDK APIs, any POS application can quickly transform into a SoftPOS. POS solution providers may focus on developing their payment applications without worrying about EMV Level 2 certification, account data encryption, and key injection. Any POS solution provider can easily start EMV contactless transaction acceptance on Android phones immediately with their own POS application.
Fairbit’s Mastercard certified SoftPOS solution is developed to support global and U.S specific business cases such as U.S Common Debit AID prioritization. Extensive callback functions give flexibility to POS applications to implement different flows to adapt to different market needs. The solution supports all CVM methods, including Online PIN, Signature, and CD CVM. EMV Contactless Level 2 kernel is optimized to achieve the best transaction speed.
The solution proved that Mastercard performance requirements can be achieved with a cloud-based EMV Level 2 kernel. The solution accommodates special techniques to optimize the transaction time to give the best user experience.
Ozgur Altuntas, managing director at Fairbit, commented that “We are pleased to get Mastercard Tap on Phone certification for our SoftPOS solution. With the Apple’s announcement of Tap to Pay on iPhone solution, the SoftPOS market will likely to continue growing even faster. Existing POS vendors and new entrants are looking for SoftPOS solutions to help them to go to market quickly. It is crucial for them to have the best solution to get them into market ahead of competitors. Fairbit helps these companies with SoftPOS solution as well as additional services like EMV Level 3 certification. Our goal is to help POS solution providers in the best way to achieve them to offer the best SoftPOS solution the their merchants.”