With launch of cloud point of sale, Mastercard powers an ecosystem to take on Square
- Mastercard deployed the first live pilot of its cloud point-of-sale technology.
- The cloud program enhances the global payments ecosystem built by Mastercard’s Tap on Phone solution which could give Square’s POS technology a run for its money.
Mastercard recently kickstarted the first live launch of its cloud point-of-sale offering, the Cloud Tap on Phone pilot program. With its cloud point-of-sale technology, Mastercard gives open access to solution providers and fintechs for the development of their own cloud based POS products.
The offering opens the door for a partner ecosystem that could potentially rival the point-of-sale products of payments innovator, Square. More than 2 million businesses worldwide use Square’s POS and it has supported around 340 million customer cards for transaction use.
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The cloud technology is hosted on Microsoft’s Azure cloud platform and builds on Mastercard’s earlier Tap on Phone solution which allows businesses to accept contactless payments through an Android phone or tablet and cancels out the need of a physical card reader.
“Cloud Tap on Phone makes it easier for partners to develop their own cloud based solutions and distribute Tap on Phone to businesses with the development and certification of a software development kit,” said Nili Klenoff, Mastercard’s senior vice president of global acceptance solutions.
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