Payment services provider Allied Wallet is set to launch its new SWIPE solution with new chip and pin mobile point-of-sale (mPOS) device in the European Union (EU) and the UK in March next year.

The new solution, which is intended to provide complete functionality and additional security, enables merchants and consumers to accept payments on smartphones.

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Currently, Allied Wallet facilitates payment acceptance for 164 different currencies across 196 countries. In addition to all major cards, the firm’s customers could accept various other payment options.

The company expects the new device to increase its sales in the second quarter of next year by 50%.

Allied Wallet CEO Andy Khawaja said: “As the payment landscape constantly changes, the world needs a more secure solution with the scalable ability to accept more types of payment methods.

“We see another need as digital payments evolve that must be filled, and our new SWIPE solution will fill that need.”

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