Imagine being able to shrink your cash register to pocket size and carry it wherever you — or your business — go. Retailers can do just that with a new smartphone credit card reader.
This new, vastly growing market makes it easier and faster for retailers to accept payments, simply by plugging a small card reader into their smartphone or tablet. It’s a crucial part of the e-commerce trend, and an application that will be very attractive, not only with small businesses, but also major retailers. A major bonus: It’s also PCI compliant.
With the card reader, completing the sale takes just a few steps: Plug in the card reader into the headphone jack, choose the items purchased and quantity on your smartphone or tablet’s screen and then select the payment method (debit, credit, check or other method). Swipe the card and ask the customer to sign on the line — with their finger. The card reader also offers customers the option of adding a tip and selecting how they receive their paperless receipt — by text or email.
The company also offers retailers a free app and card reader (that encrypts all data) and a 2.7 percent charge per transaction.
While just a few companies have to introduced the new software, retailers will have more choices in the future. This is certainly just the first wave in updating and improving the check-out process for retailers and customers.
Source: PC Mag, March 2012