In a blog post announcing the deal, Squares hardware lead Jesse Dorogusker noted the upcoming changes in the payments ecosystem as reasoning behind the purchase. Financial terms of the deal were not disclosed.
Kilis payment modules include processors and board designs that pass EMV and PCI certifications. Perhaps more importantly, the modules operate with NFC for two-way communication, a payment method that Square has yet to support.
According to Kilis website, the company is a divestiture of cloud-based authentication company SecureKey, and counts SecureKey chairman Greg Wolfond as a co-founder and chairman, and Afshin Rezayee as co-CEO.
In recent news, Square has partnered the ecommerce solutions provider Bigcommerce and the provider of ecommerce solutions Weebly in order to help US and Canadian SMEs tap online.
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