Startup Poynt reinvents the counter-top credit card payment terminal

Gigaom

Companies like Square and Shopify are trying to overturn the traditional model of credit card transactions with new hardware, user-friendly tablet interfaces and out-of-the-box payment processing services. It’s rare to see a company actually trying to work within the old-school realm of traditional payment networks, characterized by clunky card-swipe terminals, printed receipts and direct bank relationships.

Yet a Palo Alto startup called Poynt is coming out of stealth to do just that. It’s trying to reinvent with the traditional point-of-sale terminal using the latest technologies and development principles coming out of the financial startup community.

The terminal will run on Android, will have a developer community and app store and will accept any kind of payment, whether it’s beamed in by Apple Pay or authenticated by a chip embedded in your credit card, said Osama Bedier, Poynt CEO and founder. Bedier has some pretty strong Silicon Valley credentials: He headed up Google…

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