Dec 25

Here is a couple of new players in the iPhone Credit Card Payment Solution space.

VerifonePayware Mobile — is VeriFone’s gateway processing solution which routes transactions to multiple US processors. PAYware Mobile service fees include merchant boarding fee (account setup), monthly service and transaction fees and early contract termination fee.

SquareupSquareup — is a brand new iPhone-based payment processing system that’s currently being alpha tested. In addition to keeping the process paperless, Square makes check-out clean and easy. The innovation is in a small, plastic card reader that fits in to the headphone jack of an iPhone (or iPod Touch) and transfers the credit card’s swipe data to the app. After the employee enters the amount to charge, the customer confirms by scrawling their signature with their finger and then either one enters the customer’s email address to send the receipt to. The payment is processed by Square for a small percentage plus a fixed fee; the funds are transferred directly to the store’s bank account, cutting both time and complexity on the processing side. The customer’s receipt includes a map showing the location of the transaction which is handy for those who record, sort and file such things.

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