2014.21 | poynt

With so much re-invention focus on payment with the likes of Square, Google Wallet and Apple Pay, it’s no surprise that someone in silicon valley decided to take a run at updating the old school point of sale payment terminal. Poynt is the iPhone to the traditional point of sale pinpad’s Blackberry.  It will be interesting to see if it takes off in the same way that the iPhone did. Poynt’s device is certainly different than it’s more traditional competitors in looks and basic utility.  The unit has a sleek contemporary look that utilizes an android tablet and has no physical buttons for pin entry.  Like other newer units, it has all the standard payment interfaces – MSR, EMV, and NFC – but also adds a PoyntQR/barcode imager and a bluetooth antenna.   Poynt also has a basic built in point of sale software solution, and a Software Developers Kit to allow others to build applications that can run on the platform. On the plus side, Poynt certainly has a look that retailers can embrace.  It takes point of sale pinpad terminals away from the spongy buttoned senior citizen’s calculator look to a software based, touch driven, futuristic device.  Every base is covered with payment options with all of the capabilities included on the device.  All of this is positive for the right application. For high volume retailers, this may not be the right device.

  • With two screens, the device appears to be designed for an interaction sitting on top of a counter that starts with the store associate entering data on the device and then passing it to the customer for payment entry.  This is sub-optimal for a high volume retail environment where every motion counts.
  • The device does not appear to have any security mounting options beyond a kensington type lock interface.  Given the need/desire for tier one retailers to mount devices on checkstands, selfcheckouts and more, the device cannot be mounted in stores with certainty that it won’t be stolen for attempted security incursions.
  • Touch screens are still an experiment for payment terminals in North America.  Shoppers are accustomed to buttons for pinpads.  Shoppers at tier one retailers are more than just twenty something hipsters in New York ordering cronuts who want to try the latest thing.  Most shoppers at high volume retailers want to get through the line.  Our moms need to know how to use this thing and get through the line in seconds.  This is certainly less and less of a problem as time passes, but the issue is still worth noting depending on the target market of particular retailers..
  • Pinpads take a lot of abuse in retail.  Mobile phones and tablets are replaced by consumers every 3-4 years.  Tier 1 retailers often target keeping devices for 7-12 years.  Can these devices last this long?  Certainly the software aspects mean that the devices can be updated over time, and looks can even be changed over time.
  • Most of the traditional calculator looking pinpads have some sort of privacy shield.  This device has a screen that is quite large that may be difficult to use without sharing your pin with the entire staff and entire shopper population.

This is not to say that Poynt was even built to deal with these challenges.  Poynt is solely a better looking device that enables every type of payment interface possible.  Selling payment terminals is a messy business.  As articles on this device point out, payment device vendors need to convince payments processors and banks, and to a lesser extent retailers, and not consumers, that their devices are worthy of certification and usage at point of sale. Poynt raises the bar and provides a fresh perspective, and for that alone, it is worthy of consideration.  While other articles seem to focus on the old school nature of pinpads on the market, in Canada, there have certainly been changes in recent times with the move to EMV to newer sorts of pinpads like those provided by organizations like NBSPS that have features like sleek good looks and audio prompts. EMV requirements in the US means that timing is good for new devices, and Poynt should take advantage of that change.  No matter whether Poynt takes off or not, it certainly provides other vendors the opportunity to change the paradigm that embodies the conservative payments industry.  I can’t wait to use a touch screen pinpad.  Expect it to become common sometime soon.

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