Shifting to SaaS Payment Solutions
For ISVs and ISOs, there are many point of sale (POS) and payments trends having a significant impact on the industry. For example, the security of electronic payments and protection of cardholder data remains top of mind for companies large and small. Additionally, many ISVs and ISOs are now seeking to replace their existing traditional POS terminals with smaller, more sleek units or even tablets.
Thanks to SaaS-based offerings, it’s no longer necessary to buy and maintain powerful PCs running local POS applications - it can now be cloud-based. This change in business models calls for a new look at the way payments are traditionally processed.
Under the traditional model, the payment terminal is connected to the POS terminal PC, which sends transactions to the payment gateway for authorizations. Now, in the same way the POS application can run in the cloud, the payment terminal can be connected directly to the internet and controlled by the payment gateway. The gateway initiates transactions in response to requests from the POS application via an open API.
Under this model, there’s no expensive PC or POS system to maintain on site, and no patches to install. There’s also less on-premise hardware that’s in scope from a PCI DSS perspective, making the entire technology environment simpler, cleaner and more secure.
For ISVs and ISOs interested in offering this to their customers, NMI is introducing its new Cloud EMV solution. Currently in beta at the end of July, this new offering will allow ISVs, with a simple API integration, to create secure SaaS-based POS and payment solutions for their customers.