| Summer 2006 | Vol. 1 No. 1 | Tips To Reduce Your Cost And Risk When Taking Customer Payments |
The New Wireless Payment Systems A technological breakthrough, the new wireless payment systems now available are light years ahead of the competition. The most advanced compact and user friendly of these systems is built on a cell phone platform. Compact and simple to use this is the first affordable out-of-the-box wireless solution for merchants doing business away from the store or shop. Never again will you need to write down a credit card number in the field, key it in to your terminal when you get back to the store, hope it is good and then pay somewhere around 3% to 5% on the transaction. With the new cell phone payment system you can swipe the customers card, get authorization on the spot and print a receipt for them to sign. It will even print receipts for cash or check payments for your customers. The printer is an optional piece of equipment, but is very inexpensive and is a must-have for anyone who wants to appear as if they are in business and legitimate. It is easy to use and compact and comes with a case that clips to your belt. Signatures may be obtained on an imprint receipt if you do not have the printer. The system seen here operates through the GPRS network. That means it will connect through the closest available tower to transmit the payment information from among over 20 network providers. Network companies included are AT&T, Cingular, T-Mobile and many more, but those pretty much cover everywhere. |
Hot Money Saving Tip! Merchants who take cards away from the shop or store can typically save over 1% on their processing costs by taking advantage of the new wireless technologies.
Contactless Payments Available later this year, around July, is the new contactless payment technology. It is the way business will be transacted in the future and cards, as well as other contactless devices, and is now being distributed to the buying public by the millions. These include cards, key fobs and coming soon are cell phones that can be used as phone wallets.
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