Socket Mobile, Inc. (NASDAQ: SCKT) is screaming for the top in the market this morning, and for good reason. The company announced that it has achieved Google Wallet Certification. Here’s what’s happening:
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SCKT Stock Is Flying On Google Wallet Certification
In a press release issued this morning, Socket Mobile announced that its SocketScan S550 Contactless Membership Card Reader/Writer has passed the Google Wallet Certification process.
The company reminded investors that it is a member of Google’s Smart Tap partner program. This program lists certified providers of Smart Tap capable terminals. With the Google Pay Smart Tap technology, mobile passes, payment cards, and transit cards are stored in the Google Pay wallet.
When a merchant uses this technology, a merchant application using SDK from SCKT, the S550 automatically selects the merchant’s mobile pass from the consumer’s Google Wallet. The consumer then activates the pass by tapping their phone on the terminal.
Essentially, the certification means that SCKT merchant customers will be able to accept Smart Tap payments from consumers using the Google Wallet product.
In a statement, Vince Coli, Staff Director of Technical Product Marketing at SCKT, had the following to offer:
The S550 delivers an engaging, contactless, and frictionless experience for your customers and guests using mobile passes. The Capture SDK provides our developers with the tools to use the magic of the Google Wallet eco-system. We’re excited to be at the forefront of these new mobile pass capabilities and their ability to improve customer experiences.
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This Is Huge News
Digital wallets have been gaining steam in the United States for some time now, and the Google Wallet is one of the leaders in the space. By providing merchants with the ability to accept Smart Tap payments from Google Wallet consumers, Socket Mobile will likely see an increase in demand from merchants, ultimately opening the door to an increase in revenue.
As consumers continue to look to innovative technologies in order to provide stronger levels of security while offering up a better user experience, we’ll continue to see an evolution in payment systems. With this announcement, SCKT is proving that its efforts to be one of the driving force in this evolution of the electronic payments system, making the SCKT stock one to watch closely!
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