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Provision, a Turkish technology company that turned smartphones into POS devices for contactless purchases that do not require a credit card password last year, made another innovation. The company became the first company to complete the security and functional certifications of Mastercard and Visa by developing the SoftPOS application with PIN support (password), which eliminated the contactless transaction limit.

*** This release is originally published in Turkish.
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ISTANBUL (TR) - As of 2020, only 15% of businesses worldwide can accept payments by debit or credit card. Almost 200 million small businesses can only accept cash payments due to the high cost of POS devices. However, with the pandemic, the use of card and contactless payment has increased considerably instead of using cash. Provision, a Turkish technology company that wants to develop a solution to this problem that causes small and medium-sized businesses to lose revenue, launched the SoftPOS application, which converts Android-based smartphones and tablets into POS terminals for transactions under the contactless payment limit last year. Thus, even signing a policy in Turkey, the company now also offers PIN-backed SoftPOS product services. Last month, the company completed the “Secure PIN Acceptance Certification" of Mastercard and Visa for a solution that allows payments to be made quickly and securely without getting stuck in the contactless transaction limit. Going live for Akbank customers in November, PIN-based SoftPOS received a lively atmosphere in Turkey, Android phones and tablets supported was the first product that converts the POS device password.

Hanging around the limit becomes history

The local technology company, with its solution that allows payments to be made quickly and securely without being stuck in the contactless transaction limit, enables small and micro-sized businesses to accept payments with contactless cards without the cost of POS. The secure PIN (password) feature introduced to the application, which was put into service last year by Provision, allows safe and contactless transactions from Android devices used as POS, without the limit of contactless transactions.

“We anticipate that the product will be spread in a short time at home and abroad”

“We believe that the password-supported SoftPOS application, which allows small and micro businesses to make higher consistent sales by reducing POS costs, will provide great convenience to all parties. This application has so far been used only for purchases that are below the contactless transaction limit, as there is no password support. With the completion of our newly developed PIN-supported SoftPOS, MasterCard and VISA certifications, businesses will now be able to accept payments without being stuck in the contactless limit. While our product was brought to a live environment for Akbank customers for the first time in Turkey, we also took the first serious step towards the dissemination of the product abroad by taking the Romanian subsidiary of Alphabank, the largest bank in Greece, to a live environment with SIBS of Portugal, a global payment company. We will continue to expand our product globally with other customers in different countries in a short time.”