Sagicor Bank has announced the upgrade of its mobile point of sale (mPOS) SWYPE device to accept payment cards with microchip technology, known as EMV (Europay, Mastercard and Visa).

Kevin Chin Shue, Assistant Vice President of Sagicor Bank – Payments, said this step represents the bank’s overall commitment towards improving the security of transactions for merchants and users, while also increasing access, which improves the earning potential for micro and small business owners who utilize mobile point of sale devices.

“EMV is a global standard for security, which is significant right across the industry. For micro and small businesses who utilize SWYPE, this is especially so, as we want them to be able to provide that assurance of extra security to their customers,” he said.

Chin Shue added: “At Sagicor, we are committed to always utilizing the latest technology available to us to support our clients and help them grow.”

He said persons can get the EMV upgrade to their device by downloading the updated application in the Google Play store and following the instructions.

The Sagicor Bank SWYPE device is a compact, portable card reader that accepts debit and credit card payments. Launched in 2018, the device has been effective in improving ease and convenience for micro and small business owners and their customers.

The machine accepts Mastercard, Visa and Multilink cards and connects via pairing with Android devices through a free application available for download in the Google Play store.

The device is lightweight and allows for easy setup. It also accepts both USD and JMD-denominated cards and provides for safe, cashless transactions for various on-the-go businesses, such as vendors, delivery services, craftspeople and food trucks, as well as larger businesses who want to improve the pace of transactions in-store.