Mastercard pioneers cloud point-of-sale acceptance technology

Mastercard, NMI and Global Payments Inc. have partnered together to launch Mastercard’s first live cloud tap on phone pilot with Computer Engineering Group, an independent IT Services provider. Cloud tap on phone, one of Mastercard’s next generation products, will have its software hosted on Microsoft’s Azure cloud platform, NMI will operates as a key integration partner and distributor, Global Payments will provides point-of sale acceptance technology and CEG will be the first company to pilot the program according to a release.

Mastercard has been planning the transition to contactless over the past few years but due to the rising demand for faster, more convenient, safe and cleaner ways to pay with touch-free experiences. In the third quarter of 2020, Mastercard reported that contactless payment represented 41% of in-person purchase transactions globally, up from 37% in the second quarter and 30% a year ago.

With tap on phone, merchants can offer enhanced and accelerated curbside pick-up, payment on delivery or provide faster line-skipping checkout in-store minimizing the need to invest in hardware terminals.

“We continue to see an accelerating shift to digital payments, with businesses of all sizes wanting to provide swift, secure, compelling point-of-sale experiences. Cloud POS enables us to make these experiences available to our partners with greater speed and efficiency,” Milan Gauder, global head of Mastercard’s Acceptance Solutions Group, said in the release.