British based cloud eCommerce platform, Powa, is next month launching mPowa, a British version of Square’s dongle to enable businesses and salespeople to process card payments on the go with their mobile phones. The new technology consists of a free card reader that plugs into the audio jack of the mobile device and works in conjunction with an app downloaded from the smartphone marketplace. The technology will principally benefit small businesses and travelling salespeople who will be able to take the sale to the customer without having to rely on cash payment. Other than processing card payments, the dongle can also print out personalised, on-the-spot receipts, create tailored loyalty programs and detailed financial spreadsheets, and collate customer data to be analysed for marketing purposes. There are no costs to download or set up the dongle but a 0.25% fee is charged to the retailer on each transaction. The technology is level 1 PCI compliant according to mPowa, the same level as a bank site, and is compatible with iPhones, iPads, Android Phones and Blackberry mobiles.
The technology is already established abroad with companies like Square, Verifone and Intuit in the USA and iZettle in Sweden.
Whitepapers
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