Mastercard pilots innovative next-gen acceptance products
Cloud Tap Phone is an innovative next generation acceptance product from the financial services company which is hosted on Microsoft’s Azure cloud platform.
Whilst Mastercard has been spearheading the transition to contactless payments for many years, the impact of COVID-19 has increased demand for faster, safer, cleaner and more convenient payment methods. Reports have shown that in Q3 of 2020 contactless payments accounted for 41% of in-person purchase transactions globally, up from 37% in Q3 and up 11% compared to 2019.
Mastercard’s Tap on Phone technology, allows businesses of all sizes to provide consumers with contactless experiences by turning an Android smartphone or tablets into an acceptance device, minimizing the need to invest in hardware terminals and extra features. By introducing Cloud Point of Sale (POS) into its Tap on Phone technology Mastercard reports that it will enhance the product and empower its ecosystem of partners to develop their own cloud-based products with new tools and capabilities.
Features of Cloud POS
Cloud POS moves key aspects of the acceptance software - such as the ones which process contactless transactions as well as certain security functions - to the cloud providing robust security, reduced development and maintenance costs, and scalable distribution channels.
“We continue to see an accelerating shift to digital payments, with businesses of all sizes wanting to provide swift, secure, compelling point-of-sale experiences. Cloud POS enables us to make these experiences available to our partners with greater speed and efficiency. Our partners are the center of everything we do, and our trusted technology powers innovative experiences, choice, flexibility and certainty, creating the products they need. Mastercard’s Cloud Tap on Phone delivers on our promise of ground-breaking products and innovation,” commented Milan Gauder, Global Head of Mastercard’s Acceptance Solutions Group.
Intelliwave SiteSense boosts APTIM material tracking
“We’ve been engaged with the APTIM team since early 2019 providing SiteSense, our mobile construction SaaS solution, for their maintenance and construction projects, allowing them to track materials and equipment, and manage inventory.
We have been working with the APTIM team to standardize material tracking processes and procedures, ultimately with the goal of reducing the amount of time spent looking for materials. Industry studies show that better management of materials can lead to a 16% increase in craft labour productivity.
Everyone knows construction is one of the oldest industries but it’s one of the least tech driven comparatively. About 95% of Engineering and Construction data captured goes unused, 13% of working hours are spent looking for data and around 30% of companies have applications that don’t integrate.
With APTIM, we’re looking at early risk detection, through predictive analysis and forecasting of material constraints, integrating with the ecosystem of software platforms and reporting on real-time data with a ‘field-first’ focus – through initiatives like the Digital Foreman. The APTIM team has seen great wins in the field, utilising bar-code technology, to check in thousands of material items quickly compared to manual methods.
There are three key areas when it comes to successful Materials Management in the software sector – culture, technology, and vendor engagement.
Given the state of world affairs, access to data needs to be off site via the cloud to support remote working conditions, providing a ‘single source of truth’ accessed by many parties; the tech sector is always growing, so companies need faster and more reliable access to this cloud data; digital supply chain initiatives engage vendors a lot earlier in the process to drive collaboration and to engage with their clients, which gives more assurance as there is more emphasis on automating data capture.
It’s been a challenging period with the pandemic, particularly for the supply chain. Look what happened in the Suez Canal – things can suddenly impact material costs and availability, and you really have to be more efficient to survive and succeed. Virtual system access can solve some issues and you need to look at data access in a wider net.
Solving problems comes down to better visibility, and proactively solving issues with vendors and enabling construction teams to execute their work. The biggest cause of delays is not being able to provide teams with what they need.
On average 2% of materials are lost or re-ordered, which only factors in the material cost, what is not captured is the duplicated effort of procurement, vendor and shipping costs, all of which have an environmental impact.
As things start to stabilise, APTIM continues to utilize SiteSense to boost efficiencies and solve productivity issues proactively. Integrating with 3D/4D modelling is just the precipice of what we can do. Access to data can help you firm up bids to win work, to make better cost estimates, and AI and ML are the next phase, providing an eco-system of tools.
A key focus for Intelliwave and APTIM is to increase the availability of data, whether it’s creating a data warehouse for visualisations or increasing integrations to provide additional value. We want to move to a more of an enterprise usage phase – up to now it’s been project based – so more people can access data in real time.