Point-of-sale systems, especially for small businesses, can sometimes be a very expensive pain with technology constantly updating and new payment methods continually cropping up. Former Google wallet chief Osama Bedier is behind a new product that will try to become an all-in-one payment system. It’s called Poynt, and from the looks of it, it is poised (or will try) to revolutionize how we conduct financial transactions, at least digitally speaking whether in your store or even at bazaars and trade fairs.
Hardware-wise, Poynt is a touchscreen Android device that has dual displays, one for the merchant and one for the customer, to avoid all the turning and flipping when conducting transactions. Retailers will have a 7-inch tablet where they can enter the amount. It also has a speaker, a mic, a front-facing camera, a magnetic strip and a EMV “Chip & PIN” card reader. Meanwhile, the customer will have a 4.3-inch touchscreen which will also have a QR code reader and barcode scanner, an NFC antenna and even a thermal printer that can give them receipts.
The best thing about Poynt probaby is that it is platform agnostic, accepting varied payment systems including credit cards, Chip & PIN cards, NFC (which will include Apple Pay of course), QR codes and Bluetooth Beacon systems. Currently, the device will just use WiFi or 3G/4G connectivity. But later on, they plan to develop a dock with an ethernet port as well. In terms of analytics, it has several apps where you can track your financial performance either through the POS or even remotely through your Android device.
For now, Poynt will only be available in the US market. Shipping to developers will start in this year’s last quarter, with the device priced at $499 while merchants will be able to purchase it at $299 by the first quarter of 2015. With the issues facing Apple Pay and also NFC payments being rejected by several retail pharmacies, let’s see if Poynt can actually make waves in the retail and technology industry.
VIA: SlashGear
