Product: NFC Swipe
Company: ROAM Data Inc.
ROAM Data Inc. extended its mobile commerce platform with what it heralds as the industry's first device-agnostic card reader featuring near field communication (NFC) and mag stripe capabilities in a mobile POS unit that plugs into the audio jack on a variety of devices.
Slated for release in mid-2012, the NFC Swipe will reportedly operate on hundreds of smart phone, tablet and PC models available today.
"This marks the first truly low-cost solution that can help proliferate the adoption of NFC and contactless technology while supporting existing mag stripe technology at the same time," ROAM released in a statement.
The NFC Swipe comes at a critical juncture, just as card brand initiatives are expected to drive further adoption of NFC here in the United States. The technology enables radio communication between devices that are either within close proximity or tapped together.
With the recent infusion of funding from Ingenico S.A., ROAM has accelerated research and product development. "Beyond our planned launch of NFC Swipe in mid-year, we plan to release an EMV Swipe for contact chip cards with magnetic stripe reader in the same convenient package, as well as other turnkey virtual mobile commerce solutions for our distribution partners," said Will Graylin, Chief Executive Officer at ROAM.
According to the company, the NFC Swipe differentiates itself in that it delivers complete end-to-end encryption for processing data securely; it supports numerous mobile and stationery devices and is compatible with Visa Inc. payWave and MasterCard PayPass specifications for global contactless payments; and ROAM's PCI Level 1-certified gateway allows merchants to process payments with their provider of choice.
Another benefit of the NFC Swipe is its compatibility with various card acceptance applications, including the ROAMpay X, as well as applications developed by ROAM's white-label partners.
The company plans to roll out an application programming interface for third parties interested in building their own applications leveraging the NFC Swipe secure reader.
ROAM Data Inc.
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