NEW YORK, March 8, 2016 /PRNewswire/ -- CardFlight, a mobile point of sale (POS) technology provider, today announced a new integration with Stripe to empower developers to accept EMV chip card payments from within their own mobile applications. As part of the integration, CardFlight will make available mobile card readers that support EMV chip card and swiped magnetic stripe payments to Stripe merchants and developers.
CardFlight's offering includes software developer kits for iOS and Android that allow mobile app developers to quickly integrate card present payment acceptance for real world use cases into their own native apps. Additionally, CardFlight provides point-to-point encryption, tokenization and a PCI Level 1 compliant payment gateway to safely and securely route transactions from the card reading device to a customer's Stripe account.
Based on data from the Federal Reserve, over 83% of credit and debit card transactions in the United States are card present, with cardholders paying merchants in real life settings. Additionally, mobile payment acceptance is one of the fastest growing areas in payments. Research firm 451 Research reports that over 13 million mobile point of sale systems are in use globally today, a number that will quadruple to more than 59 million devices by 2019.
Stripe is a global leader in online payments, processing billions of dollars a year for hundreds of thousands of companies. This integration will now allow merchants who use both Stripe and CardFlight to accept EMV chip card payments. "Our focus has always been on providing our users with the tools and the infrastructure to make it easier to start and manage an internet business," said Stripe's Head of Business Development, Cristina Cordova. "Through our integration with CardFlight, we can now offer further flexibility to our users who wish to accept credit and debit cards both online and in person."
Today's announcement of EMV chip card solutions builds on a partnership between CardFlight and Stripe dating back to 2013. A number of Stripe customers already use CardFlight to power card present payment acceptance, including Artsy, Flywheel, Indochino, and Peloton.
"Together with Stripe, we can enable more developers than ever to quickly, easily and securely accept EMV chip card payments in their apps," said Derek Webster, Founder & CEO of CardFlight. "Our goal is to enable companies and developers to accept payments in their own apps without having to invest in building their own payments infrastructure. Today's announcement is another leap forward in that mission."
The United States is in the midst of migrating to EMV chip card technology, with a liability shift that occurred on October 1, 2015 that encourages merchants to adopt EMV technology when accepting card present payments. CardFlight has been one of the leaders in powering EMV mobile payment acceptance in the United States and already has thousands of merchants using its technology to accept chip card payments. CardFlight's Stripe EMV solution is available today.
CardFlight is a software-as-a-service company offering mobile payments technology and point of sale solutions to enterprises. We offer a Software Development Kit for developers to integrate payments acceptance in their existing app and SwipeSimple, a turnkey mobile solution for independent sales organizations and merchant service providers to offer to their merchants. Our technology platform is EMV chip card enabled with encrypted card readers, and a PCI Level 1 compliant payment gateway supporting all major U.S. processors.
As industry leaders, we take pride in building the latest mobile payments technology and establishing partnerships to enable more companies to accept mobile payments.
We have partnered with 15 of the top 60 merchant acquirers in the U.S and are currently working across a variety of verticals with companies like Artsy, Flywheel, Indochino, and Peloton, making mobile point-of-sale easy for our clients and their users. For more info, visit us at www.cardflight.com.
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