Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.
Hypercom M5000 Mobile Payment Terminal Announced
Hypercom’s new M5000 mobile payment terminal is a hand mobile payment system with a 3.5” color icon-capable touchscreen. The device offers cutting edge mobility, communications and connectivity options available and an integrated contactless reader let merchants accept any type of card payment. The device is initially supporting GPRS and Bluetooth connectivity.
The mobile payment system is powered by a 266 MHz standard, 400 MHz optional processor, and includes up to 500MB of memory. The processor combined with a touch screen can drive a wide variety of payment or non-payment applications, such as icon-based integration with inventory management or menu ordering systems, and the M5000 includes a software development toolkit for development efficiency and applications portability across the entire Hypercom next generation portfolio.
“Merchants demand payment products that not only expedite the secure transmission of vital transaction data, but also serve as a platform to deliver value-added services to customers, independent of location,” said William Rossiter, Vice President, Global Marketing, Hypercom Corporation. “With our M5000 mobile payment system, we introduce the second in a series of products that run on our next generation platform, include our industry-leading security, deliver the latest features and technology for the lowest total cost of ownership, and thus will enable merchants to deliver new services to their customers today, and well into the future.”
The new M5000 delivers the same unprecedented levels of security as the company’s revolutionary L5000 multilane payment system. It is designed to meet current and future PCI PTS, EMV, ZKA, APACS, JTMS and other global and country-specific security requirements, and features the payment industry’s widest array of high security data encryption technologies. Unlike competitor products, Hypercom’s full X509 Public Key Infrastructure HyperSafe® security layer is also directly embedded in these terminals to protect them and their applications from hacking and malware attacks. All systems also incorporate Hypercom’s HyperSafe Remote Key System for quick and secure payment terminal key injection at the merchant’s location.
Hypercom Corporation (NYSE: HYC) today introduced the M5000 mobile payment terminal, the next generation multipurpose mobile payment system whose futureproof features will protect the investments of a broad spectrum of merchants worldwide, from hotels and restaurants to taxis and delivery companies.
“By bringing to market futureproof systems like the L5000 and M5000, we safeguard our customers’ investments in the fast changing world of payment acceptance and open the door for customers to generate revenue with value-added services, even without payment. Merchants demand payment products that not only expedite the secure transmission of vital transaction data, but also serve as a platform to deliver value-added services to customers, independent of location,” said William Rossiter, Vice President, Global Marketing, Hypercom Corporation. “With our M5000 mobile payment system, we introduce the second in a series of products that run on our next generation platform, include our industry-leading security, deliver the latest features and technology for the lowest total cost of ownership, and thus will enable merchants to deliver new services to their customers today, and well into the future.”
The new M5000 is designed to meet current and future PCI PTS, EMV, ZKA, APACS, JTMS and other global and country-specific security requirements, and features the payment industry’s widest array of high security data encryption technologies. Hypercom’s full X509 Public Key Infrastructure HyperSafe security layer is also directly embedded in these terminals to protect them and their applications from hacking and malware attacks. All systems also incorporate Hypercom’s HyperSafe Remote Key System for quick and secure payment terminal key injection at the merchant’s location.
Source: Business Wire