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Edgepay terminal uses NearBytes technology for mobile payments

By

June 12, 2014

The Edgepay terminal that uses NearBytes technology to allow card-free payments via mobile...

The Edgepay terminal that uses NearBytes technology to allow card-free payments via mobile devices

Last year, Brazilian startup Kinetics unveiled its NearBytes technology, which has now found a commercial application in the form of the Edgepay point of sale (POS) terminal that allows card-free payments of goods and services using a mobile phone.

NearBytes is a sound-based data transfer technology that works by sending encrypted data from one device to another as a sequence of chirps that sound like a cricket. Because the technology relies on a mobile phone's built-in microphone and speaker, no add-ons or internet connection are necessary. All it takes is to place the two systems a few inches from each other.

Edgetech Solutions, a banking solutions company based in the Zimbabwean capital Harare, has leveraged the technology to develop the Edgepay POS terminal, which works in conjunction with an app on the payer's mobile phone. The app is currently available for iOS and Android devices.

When the POS attendant inputs the details of the transaction, the data is then transferred to the customer’s mobile device via the NearBytes technology, from where the details will be on view. The customer then needs to enter a mobile banking PIN on their device to authorize the transaction, before the details are sent back to the POS. From there, a request is sent to the bank for processing and a receipt of confirmation is printed.

The Edgepay POS unit features a microphone and speaker for NearBytes transmission, along with EMV, NFC and a magnetic tape reader for compatibility with cards, such as Europay, Mastercard and Visa. Edgetech says it is targeting its device mainly at banks and financial institutions and has already received interest.

The video below shows Edgepay in action.

Source: EdgeTech

About the Author
Antonio Pasolini Brazilian-Italian Antonio Pasolini graduated in journalism in Brazil before heading out to London for an MA in film and television studies. He fell in love with the city and spent 13 years there as a film reviewer before settling back in Brazil. Antonio's passion for green issues - and the outdoors - eventually got the best of him and since 2007 he's been writing about alternative energy, sustainability and new technology.   All articles by Antonio Pasolini
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2 Comments

Too many untranslated acronyms in this post.

theotherwill
13th June, 2014 @ 09:44 am PDT

Had seen similar in EU on our trip to France, waitress had these & went table 2 table to collect on meals served

No more hiding behind cashier etc to steal ID

Needed in the US, worldwide

For every hotel, cruise line, resturant etc alone

Chain & indies to use.

Stephen N Russell
13th June, 2014 @ 06:00 pm PDT
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