As part of the integration, CardFlight will make available mobile card readers that support EMV chip card and swiped magnetic stripe payments to Stripe merchants and developers.
CardFlight's offering includes software developer kits for iOS and Android that allow mobile app developers to quickly integrate card present payment acceptance for real world use cases into their own native apps. Additionally, CardFlight provides point-to-point encryption, tokenization and a PCI Level 1 compliant payment gateway to securely route transactions from the card reading device to a customer's Stripe account.
Based on data from the Federal Reserve, over 83% of credit and debit card transactions in the United States are card present, with cardholders paying merchants in real life settings. Additionally, mobile payment acceptance is one of the fastest growing areas in payments. Research firm 451 Research reports that over 13 million mobile point of sale systems are in use globally today, a number that will quadruple to more than 59 million devices by 2019.
The US is in the midst of migrating to EMV chip card technology, with a liability shift that occurred on October 1, 2015 that encourages merchants to adopt EMV technology when accepting card present payments.
CardFlight is a software-as-a-service company offering mobile payments technology and point of sale solutions to enterprises.
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