The global point of sale payment terminal market is enjoying a tech boom, as manufacturers peering just over the horizon see rampant demand for in-store devices that can accommodate both contactless payments and card transactions authenticated by chip and PIN security protocols.
Two major manufacturers with a presence in the U.S., VeriFone and Ingenico, have broadened their respective terminal capabilities to allow merchants to quickly add, via software download, near-field communications (NFC) acceptance as contactless payments expand. [NFC refers to short-range wireless connectivity that enables two devices, such as a mobile phone and a payments terminal, to communicate data that can help execute a transaction. ISO 18092 standardizes protocols for two-way communication via NFC, in which payment information can flow from a consumer's phone to the retailer, while information flows from the retailer to the phone.]
Source: American Banker
