Honeywell (Nasdaq: HON) today announced the release of Honeywell Smart Pay, a contactless software payment solution enabling the company's powerful mobile computers to become secure and compliant payment terminals, accepting contactless mobile payments from anywhere a business sells or delivers goods and services.
Honeywell Smart Pay gives sales associates and service employees the power to finalize payments on-the-spot in retail, parcel delivery, public transportation services and other businesses where mobile payment can be used.
With a major chip-enabled credit card or contactless payment-enabled mobile phone, any employee with a Honeywell mobile computer, including the award winning CT30 XP and CT40 XP, can accept payment from a consumer either out in the field or in store, improving the overall customer experience and providing a seamless transactional experience with increased security and flexibility of payment options.
"Effortless check-out and the delivery of specialized customer service can help create loyal customers and make lasting impressions," said Taylor Smith, chief technology officer of Honeywell Productivity Solutions and Services. "We designed Honeywell Smart Pay with the goal of helping merchants make consumer purchasing faster, easier and secure – making the customer experience better."
More people are using cards and digital wallets to make purchases in store instead of using cash. The Federal Reserve Board noted that in 2021, only one in five consumers preferred to pay with cash for in-person payments. Salesforce1 recently reported 83% of consumers have already used contactless payments, and 65% of customers plan to use contactless payments more in the next three years.
For a merchant, traditional mobile point of sale (mPOS) accessories that mount on a mobile computer come with a recurring lifetime cost for hardware for card readers, costs for encryption keys for payment processing which, when combined, rival the cost of the mobile computer alone, nearly doubling the total upfront cost for mobile payment. Smart Pay software point of sale eliminates these added costs and the bulk and weight of the accessories while keeping customer data secure.
The software solution was designed in collaboration with leading payment software and consulting provider Amadis, whose software has been deployed in more than 40 million mobile devices globally.
"Honeywell Smart Pay incorporates sophisticated secure code and anti-tampering technology with Amadis' proven card processing and security software essentials, providing a secure payment acceptance services solution," said Emmanuel Haydont, CEO and co-founder of Amadis. "This technology emulates in software the physical secure platform and tamper detection employed on traditional payment terminals to maintain the high level of security compliance demanded by payment networks to assure safe retail payments."
Honeywell Smart Pay supports major credit cards representing more than 85% of global transaction volume, with additional regional card brands to come in 2023.
Honeywell Productivity Solutions and Services develops and deploys an innovative range of solutions, software and services that help keep workers and workplaces safer and more productive, and supply chains and assets more efficient, accurate and reliable.
Honeywell Safety and Productivity Solutions (SPS) provides products, software and connected solutions that improve productivity, workplace safety and asset performance for our customers across the globe. We deliver on this promise through industry-leading mobile devices, software, cloud technology and automation solutions, the broadest range of personal protective equipment and gas detection technology, and custom-engineered sensors, switches and controls.