April 13, 2023 – Consumers are increasingly comfortable making payments online and making purchases through their smartphones in physical locations. At the same time, contactless transactions have become a global standard. Technology is now available to accept physical transactions without needing a dedicated physical terminal; merchant smartphones can become fully secure, PIN-enabled POS terminals.

This report provides an overview of the SoftPOS space, discusses the global state of implementation, identifies best practices and use cases, and provides an overview of the factors impacting SoftPOS implementation. It is based on Aite-Novarica Group interviews with 25 global SoftPOS processors and software providers (including three payment networks) and five large merchants using or planning to use SoftPOS in their retail outlets.

Clients of Aite-Novarica Group’s Retail Banking & Payments service can download this report.

This report mentions Alipay, Apple, Dejamobile, Deliveroo, EMVCo, Etsy, Fiserv, Google, Honeywell, Kroger, Lowe’s, MagicCube, Mastercard, M-Pesa, MYPINPAD, PayPal, Shopify,  Square, Stripe, TaskRabbit, Home Depot, Toast, Uber, Upwork, Visa, Walmart, WeChat Pay, Zebra, and Zettle.