PXT Payments has launched ‘looped in’, an electronic mobile payment system which can be used over the phone to make purchases. The service also includes a money rewards programme, which is good for purchases also made in person and online.
Once the customer places an order over the phone, the merchant then enters their phone number and presses submit. If the account is a looped in account it will automatically verify. The merchant then types in how much the purchase costs then hits submit. Then all the customer has to do is hit pay and enter their looped in pin. Both the merchant and customer get digital receipts and the transaction is complete.
“I like looped in a lot,” said Jose Sahagun, owner of Cancun y Taqueria. “It’s good, it’s easy to use. You use it once and you are a pro.”
Fresh from its $4.5bn IPO, Nordic payments processor Nets has picked Spire as its partner to help with the physical roll out of mobile payments for Dankort customers.
Square has introduced a new update to its contactless and chip readers that reduces transaction speed to 4.2 seconds.
It seems laptops are about to catch the biometric fever as PayPal, Intel, Lenovo and Synaptics are collaborating to introduce FIDO-enabled embedded fingerprint solution to PCs.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.