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October 30, 2014
SAN FRANCISCO — A Silicon Valley startup is hoping an upcoming transition to smarter credit and debit cards will persuade millions of U.S. merchants to buy savvier payment terminals for their stores, too.
That's the point of Poynt, a versatile terminal built to take advantage of rules requiring stores to be equipped to handle payment cards with computer chips by October 2015 to avoid financial liability for fraudulent transactions. The chip-based cards are considered to be more secure than the ones with magnetic stripes that have been the U.S. standard for decades.
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