Nomad 2.0, a second-generation mobile EMV chip-and-PIN card reader from AnywhereCommerce, is reportedly smaller, lighter, less expensive and more useful than its 18-month-old predecessor.
A lot of people are starting to wade into the market and figure out what they want to offer and how they want to offer it, says Mitchell Cobrin, AnywhereCommerce CEO. Weve already done it, and now weve improved it and were on our next gen.
The new device, about the size of an iPhone, measures one-quarter the thickness and one-tenth the weight of the old offering, Cobrin says.
It has a much more updated Applesque kind of design influence, he says of the new offering. Its a much more today kind of product.
The new reader supports debit, credit, gift and loyalty transactions through magnetic strip and EMV technology. It comes with built-in Bluetooth capability and complies with PCI, EMVCo L1 and L2, and Visa Ready.
Retailers can plug the Nomad 2.0 into a legacy cash register and thus update their point of sale, Cobrin says. It also works with smartphones and tablets, he notes
Independent sales organizations buy the new device for less than $100, about 40% less than the original, and many offer them to merchants for free, Cobrin says.
However, as payment-acceptance devices become more sophisticated and more costly, he says, most acquirers and distributors will become more discerning about which merchants will receive the free readers.
Some ISOs will adopt a hybrid approach, giving away some devices but charging for others, depending upon merchants transaction volume, Cobrin predicts.
I dont think theyre going to go after the proverbial babysitter and dog walker who transacts once every other month, he says.
Instead, the device would make sense for home-care workers, gardeners, electricians, plumbers and bricks-and-mortar retailers who want expedited checkout, Cobrin notes.
AnywhereCommerce also operates a payments gateway, called the A-Commerce gateway, that supports chip and pin and other acceptance, he says.
Our expertise in delivering an end-to-end solution alleviates a lot of complexity and complications that a partner will be faced with, Cobrin says. Its a complex mine field when you get into chip and pin.
In other news, the company has recently signed contract with Prosa, a large acquirer in Mexico, and is working with First Data Corp. in Latin America.