Smartphones as payment processing devices

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Learn about mobile credit card processing services and their features.

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  • Visa, MasterCard, American Express, and Discover cards 
  • Smartphones as payment processing devices

    1. 1. Kristina Kapanova
    2. 2. POS - means the point of sale (the place andtime) where money changes hands.In most of 19th and 20th century paymentswere made by cash or check, and merchantswere using registers.1974 - beginning the use of barcodes in businesstransactions in markets.1974- 2000s – businesses adding computerterminals, card swipe devices, signature pads toaccommodate payments.11/26/2012 2
    3. 3. Mobile credit card processing services letbusinesses and freelancers use asmartphone/tablet to take payments anywherethere is mobile service.You need smartphone/tablet, mobile connection,card swiper, and mobile app.Payment Card Industry Data Security Standard(PCI-DSS). PCI-DSS is a set of policies andprocedures to enhance the security of credit, debitand cash transactions as well as protect cardholderinformation..11/26/2012 3
    4. 4. Squares products cater to everyone from the solo, mobileentrepreneur to high-volume stores.The card reader comes either for free or you are charged10$ for it.Operates in United States and Canada.Square charges a fee of 2.75% on every credit cardtransaction or 3.50% plus $0.15 cost per manually-enteredtransactionSquare Wallet - allows customers to open a tab and payonly by telling their names with the system charging theircredit card on file11/26/2012 4
    5. 5. PayPal is long established name in the mobile paymentservices.Currently for US, Canada, Hong Kong, UK, and Australia.The card reader comes for free.PayPal Here offers a flat rate of 2.7% for card swipes andPayPal payments.The app is used not only for accept card payments andtrack cash, but also to allow tracking inventory, chargingmoney to customers and sending invoices.11/26/2012 5
    6. 6. iZettle is social payments company, which offers securepayment services, which includes an app and mii-chipcard reader for a mobile device.The company was founded in 2010 in Sweden and iscurrently available in Sweden, Norway, Denmark, Finland,The United Kingdom and Germany.The chip-card reader come for free.The fees depend on country location but in UK andSweden it is 2.75% per card-swipe.The App allows great customization of products,categories, VATs, discount options, etc.11/26/2012 6
    7. 7. The deal website Groupon also created a smart phone-basedcredit card payments system.Available in US.Free card readerThe fees are 1.8% of credit card sales, plus a $0.15 pertransaction fee for MasterCard, Visa and Discover cards. ForAmerican Express cards, it charges 3 percent plus the 15 centfee.Customizable Tax settings.Entirely compatible with the Groupon Deals System for claimingdiscounts.Through the app you can track sales reports and trends11/26/2012 7
    8. 8. Currently for US and Canada, and plans to go global.Offers Pay-as-you-Go and monthly subscription.Free card ReaderPay-as-you-Go swipe fee 2.75%, with no transaction fee,and 3.75% for manually-entered transaction. MonthlyService comes for $12.95/month with 1.75% per swipefee, and 2.75% for manually-entered transaction.It can look up and assess the correct sales tax based onyour current GPS locationIntegration with QuickBooks11/26/2012 8
    9. 9. Available in US.The fees are 2.7% per swipe, with, keyed-in transactionscost 3.50% and 19¢ per transaction.The card reader comes for free.Allows QuickBooks integration.Ability to set up multiple merchant accounts inside a singleapp.It can look up and assess the correct sales tax based on yourcurrent GPS location.Offers Cash drawer functionality.View sales trends and tracking tool.11/26/2012 9
    10. 10. Available in US.The card reader comes for free.The fees are 2.69% per swipe, with, keyed-intransactions cost 3.49% and 19¢ per transaction.It can look up and assess the correct sales tax based onyour current GPS location.Real-time reports display both cash and credit cardtransactions to show sales, refunds, voids, and totals.11/26/2012 10
    11. 11. Thank You! Email kkapanova@gmail.com Twitter @k_kapanova Google+ Kristina Kapanova Blog www.blankchapters.com11/26/2012 11

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