Apple Strengthens Security Of Its Mobile POS Solution
Apple is strengthening the security of its mobile transactions with upgrades to its mobile point of sale (POS) solution. This month, Apple introduced a major upgrade to EasyPay POS, making changes to the device, shell, and technology.
Forbes reports the company aims to provide its customers with stronger payment security through chip-and-PIN capabilities related to EMV (a global standard for interoperable, secure payments). This change will prepare Apple stores for the transition to EMV— a change that all retailers will have to make in the next year. In October 2015, merchants will bear liability for counterfeit or fraudulent credit card use if they do not have EMV-enabled POS devices.
Apple has switched manufacturers for the POS shell to VeriFone Systems. The new iPhone 5s shell, the VeriFone PAYware Mobile e315, is compatible with both iPhone 5 and iPod Touch 5. It includes a magnetic stripe and chip card reader, near-field communication (NFC), a built-in PIN pad, and a 2D laser bar code imager, according to a Digital Transactions article. Using the new VeriFone POS device, users can enter their PIN on a keypad on the back of the case or exchange information through an NFC-enabled device for improved security.
Apple’s choice of device for the new solution is the iPhone 5s, instead of the iPod Touch. Aside from security, another likely explanation for the change in device is the decline in iPod sales. Apple CEO Tim Cook recently acknowledged that the company has “known for some time that iPod is a declining business,” according to a 9to5mac article. Just 2.7 million units sold last quarter — down from 6 million the quarter before.