A brand new product has recently surfaced that turns the everyday smart phone into a mobile payment accepting device which allows small business owners and merchants to accept credit card payments from virtually anywhere at any time using their cell phones! This revolutionary technology opens up the doors for garage sale holders to girl scouts and everything in between. Even door to door Avon ladies could be reaping the benefits of instant sales for their clients.
The technology is actually quite simply and really can make it possible for almost any small time salesperson or merchant to sell their product. Imagine being able to open a table at the farmers market and sell your products or services right there on the spot. These days almost no one carries cash anymore. If you want a quick sale, it is almost always necessary to be able to accept credit cards so these new devices provide merchants with the peace of mind that they won’t lose a sale over payment methods.
Those who wish to utilize this new technology can do so easily by signing up for a mobile payment service. The merchant, small business owner or individual will then be shipped a free card reader that connects to the plug in of smart phones, usually where the headphones would go. Then the user would access their mobile payment service application and swipe the card through the card reader to accept the payment. The service charges either a percentage of the purchase or a flat fee per transaction depending on the company.
The creator of Twitter, Jack Dorsey, is the co-founder and CEO of one of the leading mobile payment devices known as Square. The device has already experienced big success with over 500,000 card readers already shipped within the US and the number is expected to grow exponentially as the news spreads of these wonderful and convenient devices.
Also in the process of marketing their own similar types of mobile payment devices are Google, eBay, and Amazon.
Smartphones are becoming more and more part of our everyday lives with such incredible features such as unlocking and starting your car, scanning your favorite product to find the best deals, navigation help at the touch of a button and now even a credit card reader.
These services are compatible with smartphones on the Android platform and Apple’s line of mobile devices including the iPhone, iPod Touch and iPad.
As always, stay tuned to Credit Cards Professor for more of the latest credit card news, special offers and important updates.
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