We are going to be exploring POS systems in the near future once our online system is sound and functional and we find the right guy for this part of the project. For now we are generating QR codes that can be used how UPC codes are currently used. A customer or employee can scan the QR code with any smart phone and be sent directly to that item's payment page. Not ideal as a POS solution, but functional temporarily
We are also going to offer Paper Wallet Payments, as well, though not at launch. This will allow merchants to redeem payment in physical form, rather than electronically
The template for your POS should be: Security. I say this because the Visa model is being crushed by hackers (Target, TJX hack, etc) so whatever you come up with, it should sell itself because of being MORE secure than the old crap which is fading away.
1: Think about how broken and failed the existing Visa/MC model and hardware are.
The way we are designing Paysha is with merchant funds in mind before anything else. This is why we won't be holding any funds
When it comes to POS, there's not too much we are ready to say, yet. However, think of the way the payment system will work as how cold storage works. It's a one way street where money can go in, but not come out
Think of it like the lockbox at a gas station. They have the safe that's locked with a slot to insert the receipts and cash from the register, but the people putting money in don't have the key to open the safe, so even if you rob the store and ransack the place, the stuff in the safe is left untouched
Keep in mind, as well, that we are using coin block chains to secure transactions, rather than our own systems
http://www.zdnet.com/visa-cfo-quite-a-bit-of-investment-needed-to-install-chip-and-pin-technology-7000027067/[...]
Visa's chief financial officer said that
securing retail point-of-sale infrastructure will take a hefty investment, chips on credit cards are critical and better encryption may be the fastest way to secure transactions.
Byron Pollitt, CFO of Visa, said at the Morgan Stanley Technology Media & Telecom conference that cybersecurity is the No. 1 topic in the payment ecosystem following the widely publicized data breaches at Target. Target CIO Beth Jacob resigned on Wednesday.
^^^ These people have literally no clue.
Do you think merchants or taxpayers will want to pay the salaries of such educated-fools as these? I say ditch these well paid failures, because, vulnerabilities and stupid flaws, always follow thinkers like these people.
They ALL should be fired, not just the CIO. Well, my .02 cents as an IT worker. I know how vulnerable the existing world's "money" actually is.
So this whole cryptocoin movement is basically 'the people' demanding a true security. And yet, BTC is now fully associated with scumbag thieves of the highest level. So, credibility is what is desirable in this era of well paid fools.
They are old school and don't understand the impact of mobile in today's business owners