Nidec Instruments Develops Contactless IC Card Reader ICMOMO-2090 for Transaction Applications
Nidec Instruments Corporation (the “Company”), a wholly owned subsidiary of Nidec Corporation, today announced its newly developed compact, Contactless IC Card Reader, ICMOMO-2090, for credit card- and electronic money-based transactions.
Nidec Instruments’ Latest Contactless IC Card Reader, ICMOMO-2090
Japan’s Ministry of Economy, Trade and Industry announced that the rate of cashless transactions in private consumer spending increased dramatically after the launch of COVID-19 countermeasures, while the amount spent in such transactions exceeded, for the first time, the 100 trillion-yen mark in 2022. Bricks-and-mortar businesses, too, witnessed a shift in means of payment from contact-type transactions (cash and credit-card insertion) to, among others, contactless credit cards, and pre- and post-paid electronic money-based transactions.
Nidec Instruments boasted the largest global market share for a long time for its contact-type IC, magnetic cashing, and credit card readers for ATMs, due to the worldwide reputation of the products’ high-level security for unmanned ATM machines (which can be easy targets in skimming), the durability of their chassis (which can withstand harsh outdoor environments), and their data-reading capabilities. Now, facing the growing demand for contactless transactions, the Company has added a new contactless IC card reader to its product lineup.
Usual competing card readers use two readers–one for reading electronic money and the other one for reading contactless credit cards–taking up a lot of space inside the chassis of their customer device manufacturers’ units. ICMOMO-2090, on the other hand, has these two functions in a single, compact unit. Furthermore, with a shape designed for easy post-installation and drilling installation on the chassis, ICMOMO-2090 helps make products containing it compact, while being capable of using Japan’s major electronic money types and major international credit card brands.
ICMOMO-2090 is expected to be installed in such products as outdoor POS systems of gas stations and other places, indoor fare-adjustment machines, ATM units, ticketing machines, and kiosks’ terminals, and used for various forms of payments and transactions.
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