American Banker: MagicCube, Dojo offer contactless mobile PIN payments for U.K., Irish merchants
By David Heun
MagicCube's software that converts Android devices into mobile point-of-sale terminals will be
deployed in the U.K. and Ireland through a partnership with payments provider Dojo.
London-based Dojo's payment acceptance technology will integrate with MagicCube's i- Accept software. The companies are testing the technology in different venues in the U.K., with plans to scale as soon as tests are complete.
MagicCube has long focused on technology that allows customer use of PIN on a glass surface, as well as advancing contactless payment technology during the global pandemic.
The Santa Clara, California-based company says its mission with large customers like Dojo is to enable quick integration, fast certification and efficient deployment. MagicCube says this is one of its first services with multiple deployments, engaging several banks and financial institutions on multiple continents.
The i-Accept software allows a device to accept contactless cards from American Express, Discover, Mastercard and Visa.
“With billions of phones in the hands of consumers and sellers around the world, we are delighted to work with partners like MagicCube and Dojo to give sellers the opportunity to quickly gain access to the digital economy, prevent lost sales and improve their cash flow," said Pratap Gautam, vice president, head of buyer and seller solutions in Europe for Visa, in a Monday press release.
The software-based i-Accept follows global PCI standards, and enables PIN acceptance with contactless limits at card-present rates. The software allows over-the-air upgrades, remote provisioning, risk management and mitigation, remote attestation and compliance.
“Our goal is to help provide multiple frictionless acceptance options for our merchant partners so that they can continue to grow their business in a way that fits their needs," Andrew Hopkins, senior vice president of global products at Discover, said in the release.
"Contactless payments are here to stay, and post pandemic we will continue to see a demand for
them," Hopkins added. "There will be a demand for payment software that makes changes and
updates simpler for the merchant.”