Romanian merchants turn NFC phone into contactless POS terminal | ATM Marketplace

Merchants in Romania can now accept contactless payments on their Android NFC smartphone or tablet using a software point of sale (sPOS) solution launched by OTP Bank. The OTP POSibil app “allows on-the-spot payment,” without the need for a classic POS terminal or additional maintenance costs or consumables, according to a report in NFCW

The application is compatible with mobile terminals with an Android operating system, mobile phone or tablet, and is optimal for use in business where mobility is a key factor.

OTP POSibil is implemented in partnership with Mastercard and Visa and incorporates SoftPOS technology which offers mobility, speed and flexibility in the payment acceptance of contactless bank cards and alternative payment devices, equipped with NFC technology, all while facilitating collection operations.

Transactions are secured by encryption technologies specific to POS terminals and receipts are automatically processed in the user’s account on the next working day after the transaction.

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