Thanks to Covid-19 virtual and contactless payments are increasingly the new norm and in the in-store retail space, exciting developments are on the horizon thanks to payments solution market leader, Ecentric Payment Systems. In the coming months, Ecentric will launch their in-house QR-code solution, designed to facilitate payment via QR acceptance at point-of-purchase.
Product Manager, Wesley Fetter, is leading Ecentric’s conversation in this exciting space. According to Fetter, while the product has gained development momentum arising from post-Covid need for contactless payments, settlement via dynamic QR code is merely the next logical advancement in secure mobile settlements.
Let’s break it down
Fetter explains that Ecentric’s QR code acceptance software will generate and display a dynamic, EMVCo-standard QR code on the POS keypad at the point of payment. Each QR code will be unique and will include the transaction value. The shopper desirous of contactless payment, in preference to presenting their bank card or tendering cash, has the option to scan the dynamic QR code with their smart phone and choose their preferred scan-to-pay payment method including but not limited to SnapScan, Zapper or their mobile banking app. Enabled by Ecentric’s single integration OmniHub, settlement to the retailer occurs via OmniSwitch, delivering a contactless payment experience for the shopper.
More about the Hub
The Ecentric OmniHub is a single integration platform that provides customers with access to multiple participating digital service providers and alternative payment types. The OmniHub comprises OmniSwitch, OmniLedger and OmniPay (settlements, fees and commissions). The built-in OmniLedger includes:
- Digital wallet enablement
- App payments
- Rewards as you pay
- Gift cards
Ecentric’s QR code development is so sophisticated that the retail cashier need not to be advised of the wallet application (Snapscan, Zapper, etc) to be used for payment. Ecentric will be onboarding all wallet providers with whom their retail client already has commercial agreements, and the retailer will be able to accept customer payment via QR code from any of those wallet providers. Any wallet provider contracted by the retailer can be selected by the customer at the point of payment.
Reach out to our team for more information on this exciting advancement on mobile payment technologies, expected to launch in Q4 2021. Visit the OmniHub product page
on our website, or get in touch with our sales team at az.oc.cirtnece@selas