Frequently asked questions
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Poynt was founded on the belief that all merchants should have access to innovative technology without compromising on security or user experience. We set out to fix broken commerce infrastructure by bringing developers, distributors and merchants together on an open platform running on top of a smart, all-in-one device.
We’re a tight-knit team with world-class payments, engineering, and fintech backgrounds, and we are passionate about providing incredible levels of insight, control, and security to all of our partners: merchants, developers, and distributors. You can see more about us here!
Poynt is backed by Matrix Partners, Oak HC/FT Partners, Stanford-StartX Fund, Webb Investment Network, Nyca Partners, Google Ventures and other individual investors.
Poynt is located in Palo Alto, CA.
The Poynt Smart Terminal brings the unlimited versatility of a mobile device to a future-proof payment terminal at a price that any merchant can afford. The terminal was built to meet the highest PCI and EMV security requirements as well as connect to any merchant bank. The Poynt Smart Terminal runs PoyntOS which allows developers to bring to merchants the tools and technology to manage every facet of their business without having to purchase additional hardware.
View all of the specifications here.
The device connects to Wifi and has optional 3G capability. It also comes with a dock that allows for USB connectivity as well as an Ethernet port.
A printer paper roll of 2 1/4" x 16' fits our terminal well. Here is an example of the roll we typically use for our terminal:
http://www.pospaper.com/portableprinter-01.html. You can buy it online and have it delivered to your store.
The terminal is mobile and can move around your store. If you want to take orders while customers are waiting in line, take payments from curbside pickup or take it to the storeroom to do inventory you can do that. You can even take it on deliveries or to the farmer’s market thanks to its 3G/4G modem.
The battery is charged by plugging it in through the micro USB connection on the side of the device or resting it on the dock.
Warranty will depend upon the channel through which you buy your device.
There are several Poynt applications that come pre-installed on the device: Terminal, Register, Manual Entry, Settlement, and Help. We have also partnered with a number of developers to offer their applications to merchants. The number of applications will grow significantly, and with it the power of the terminal will exponentially grow. Remember when you had a phone with no apps? And what about all the value you get out of your apps today? That difference is exactly what we are aiming for with the 3rd-party applications running on PoyntOS. You will wonder how you lived without it!
The Poynt Smart Terminal is a payment terminal with basic register functionality built-in. 3rd-party applications like eHopper, eThor, and Lightning Register can provide richer POS functionality. Over time more POS applications will get added to the Poynt platform.
Yes and yes. We have built analytics and monitoring tools that work on the terminal, our website, iPhones, and Android phones.
No, Poynt does not charge any per transaction fee. Your fees are dependent on what your acquirer bank / processor charges you.
Payment types are constantly changing. EMV cards are now the standard, in the US thanks to the EMV mandate. NFC payments are seeing increased usage thanks to Apple Pay. Some customers want to pay with cash. Our goal is to ensure merchants never have to turn down a customer based on how the customer wants to pay. Both the Poynt Smart Terminal and Poynt 5 package all the payment capabilities into single devices at an affordable price.
Of course! And the Smart Terminal can accept PIN for pin-debit as well as Signature.
Yes, the Smart Terminal can read those cards. However the information being read from the magnetic stripe needs to be interpreted by our software or a 3rd-party application. Another advantage of our open platform PoyntOS is that apps like these can be built by anyone with the skills.
“Near Field Communication” is a standard enabling secure two-way wireless communication. NFC has been used for payments for years now, but has become popular recently as Apple Pay and Android Pay are based on it.
Yes, the Smart Terminal accepts all NFC payments including both Apple Pay and Android Pay.
EMV refers to cards with small microchips in them that keep cardholder information more secure than a magnetic stripe. Each transaction has a dynamic authentication which is much, much harder to steal compared to skimming data from a magnetic stripe. EMV cards have been common in much of Europe and came to the US in October of 2015.
Rather than your card number being read from the magnetic stripe, it instead is read from the microchip. Customers sign receipts just as they have when using magnetic stripe cards.
EMV chip-and-pin involves card information being securely read from the chip, and the customer entering a PIN as a customer verification method (CVM). It’s kind of like entering a PIN when pulling cash from the ATM. Payments processed with chip-and-PIN technology are more secure and result in less fraud.
QR codes are like 2-dimensional UPC barcodes, enabling the storage of information. They can be used for a variety of things including coupons, payments and item identifiers. QR codes can be scanned using the Poynt Smart Terminal just like any other barcodes.
It's another technology for enabling mobile payments that doesn't require a second physical payment card. There are several payment methods in market using QR codes, and when they become popular, similar to any other payment method, consumers might want to pay with one of those.
As a merchant, you want to accept forms of payments that your consumers would demand. As an open platform, our goal is to allow merchant to accept the payments without being forced to change their terminals.