Owning a POS terminal has always been challenging. It requires complex hardware-design process, finding the best card readers and secure chips, finding EMV L1 and L2 kernel solutions, integrating them to hardware environment and everlasting certification processes. POS owner can’t start developing POS application and value added services unless completing these time-consuming processes. To achieve all of these require creating big hardware and software teams, dealing with different hardware and software vendors and understanding certification requirements. Even after completing all of them, the POS owner still needs to create another team to deal with hardware operations, software releases and field issues.

With the latest advancements in the market, it is now possible to turn mobile phones or different kind of devices to a payment acceptance device. The main goal here is to eliminate the hardware need to accept a card-present payment. Today, almost all of mobile phones support NFC communication with the payment cards. Cloud technologies meet security requirements needed for payment transactions and offer unlimited memory and scalable processing and performance capabilities. Both of these items offer a great opportunity to eliminate the need for having a POS hardware to accept a payment from a card.

Fairbit Kernel-on-the-Cloud solution fills significant gap to achieve this goal. Traditionally, EMV Level 2 kernel application runs in the POS hardware. Fairbit solution changes traditional model such that EMV Level 2 kernel application runs on the cloud. This abstracts EMV kernel processing from the hardware, minimize the hardware processing, eliminates the need for secure element and offers unlimited memory and processing capabilities of the cloud. As EMV processing is done on the cloud, there is no need to have EMV L2 certification for each different hardware. Once cloud platform is certified, all devices integrating to the cloud can accept payment. This eliminates huge efforts for EMV L1 and L2 certifications.

Fairbit APIs simplify the integration of payment devices to the Kernel-on-the-Cloud services. The path to offer a payment acceptance service is drastically reduced. All the POS owner needs to do is to integrate its payment application to Kernel-on-the-Cloud APIs. This reduces years of POS ownership process to weeks.

Fairbit Kernel-on-the-Cloud offers great opportunity for POS Owners, ISOs, ISVs, Payfacs and acquirers to offer their payment acceptance and value added services on the mobile phones, tablets or different type of hardwares. In the competitive market today, the companies understanding merchant needs and providing the best payment and value added solutions win. With Kernel-on-the-Cloud, these companies don’t need to worry about creating a new hardware, EMV L1 and L2 certifications, field issues. They can focus on their core business to develop the best solution for merchants. Relying on the Fairbit services, they can offer their payment solutions in a very short time to merchants by gaining competitive advantage against competitors.