Tap based mobile to mobile payment SDK for a fintech service provider
Tap based Payment UX
The OpenTerminal SDK gives remarkable usability to your users. By tapping the payer’s and the payee’s smartphones together, it initiates a payment transaction. It makes your app work like an RFID or NFC card between the payer’s and payee’s smartphones.
Secure Beacon based
Payee Auto Verification
The OpenTerminal SDK allows the your payer’s app to verify the authenticity of the payee before starting a payment. When the payer launches their payment app, it recognizes the Payee’s ID and OTP code (which changes every 60 seconds) in the Bluetooth beacon signal and verifies the payee’s credential information. It then shows the payee’s meta information to the payer’s smartphone automatically.
Payer Biometric Authentication
The OpenTerminal SDK also provides the FIDO Alliance Certified Biometric authentication technology to fintech service providers for verifying the payer’s authenticity using their smartphone.
OpenTerminal SDK Flow
If you apply the Card library in the OpenTerminal SDK on your payer’s app and the terminal library on your payee’s app, the payer’s mobile phone will be able to recognize the payee’s signal automatically. When the payer’s mobile app recognizes the payee’s signal, it resends the payee’s ID and authentication code to the payment service server and gets back the payee’s information.
After receiving the payee’s information on the payer’s mobile, the payer can verify the payee’s information and then make a payment by tapping their smartphone to the payee’s smartphone. When you create your payment app with the OpenTerminal SDK, you can choose a type of payment transaction, which is a merchant or customer initiated transaction. Besides verifying the payee’s information and initiating a payment by tapping, your payment service can authenticate the payer with the OpenTerminal SDK including the FIDO based biometric technology.
Who and why needs it?
OpenTerminal SDK is good for the peer-to-peer payment service provider which have enough number of users already. By adding the OpenTerminal SDK on top of their mobile app, they can provide a new way of in-person payment experience to their users. By tapping the payer’s and the payee’s phone together, it makes payment done. It does not ask the payer to scan the QR code without knowing that the QR code would be a scam or type the payee’s private information such as an email account, a phone number, or a bank account. For the more, it gives a chance to the payer to verify the payee with their smartphone before starting a payment.