Implementing Smart Point of Sale (SMARTPOS) Devices

Since they were first introduced, POS terminals have evolved into powerful devices that intend not only to accept payment cards and process transactions but offer a broad range of non-payment services helping merchants in their business. These new types of POS are usually called SmartPOS.

SmartPOS terminals are intended to offer not only standard payment applications but also provide merchants access to a range of applications to support their business. However, POS vendors and acquirers are not always able to offer a range of payments technologies or value-added services flexible and diverse enough to suit the needs of each and every merchant. Merchants are extremely diverse in their nature, and it is difficult to understand their businesses well enough to offer specific value-added services and applications.

This white paper takes a closer look at SmartPOS terminals. We will define the main components and features of SmartPOS, discuss the main consideration points in regards to change in business models, security risks, and architecture implementation. In addition, we will discuss the different models of implementing the POS App Marketplace and the need and approach of an application validation process.