Cardless ATM Tests Under Way

by Mercator Advisory Group 0

LevelUp has reached a deal with NCR, enabling its mobile payments solution to integrate with the hardware company’s point-of-sale equipment. LevelUp had previously reached a similar agreement with POS system developer Micros. Partnerships such as these are a part of the reason that LevelUp has grown so rapidly.

From Giga Om:

At the end of 2012, LevelUp’s apps had about 500,000 users and it was handling about $5 million in transactions each month. Even in the nascent mobile payments market that makes it relatively small, however – in 2012, Square’s annual processing rate was $10 billion.

Other mobile-based payment acceptance solutions, such as Square, are designed to serve as a merchant’s sole payments acceptance service. While LevelUp is able to standalone in a similar fashion, its inability to accept cash or cards makes it more useful as an additional service integrated directly into an existing POS system. LevelUp’s model also features a much more prominent customer attraction and retention program than Square’s. Therefore, the direct comparison between Square and LevelUp is a poor one. The fact that Square processes more dollars annually shouldn’t be used to imply that LevelUp has been less successful.

Click here to read more from Giga Om.

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