Blog

Intuit, Paypal, Others seek to piggy back on Square's Success

Details

Published on Friday, 16 March 2012 09:11

Hits: 3858

     If imitation is the most sincere form of flattery then Paypal and Intuit are showing respect and maybe envy for the accomplishments of Square.    Both Paypal and Intuit have recently launched their own mobile credit card payment systems -  Intuit GoPayment, .and Paypal Here.        We're currently looking at the offerings of a number of companies and will be reporting on what we find shortly.  Meanwhile - we'd like to hear about what YOU are experiencing right now with these three! 

    Paypal, which seems to be confused as to whether its corporate mission is to censor what you can read, censor which organizations you can send money to (WikiLeaks) or process payments, launched its Paypal Here service, almost identical to industry leader Square.  The rates are about the same, and the procedures seem to be about the same. Paypal also is accepting checks on its system.

    Intuit seems to have launched its product, but I noticed that a lot of the web page I've linked to above, is not working.  The tabs for Pricing and How It Works, were not working at the moment I wrote this.  (Betcha its fixed within 24 hours though.)

Two other services that you might want to look at also are:   PayAnywhere - offered by an affiliate of HSBC;   and  PAYware Mobile, an offering from Verisign that is a secure mobile device for working with your existing credit card processor, as opposed to just a payment processing app.

   One things for sure - it looks like the barriers for entry in this space are lower than they've ever been for payment processing.  That can only mean more companies will enter the fray.  Pandemonium, confusion, corporate mis-information, fear, uncertainty and doubt will all be present.  Beware the ides of March - a turning point has been passed.

     Are you using Square, GoPayment or any others yet?   Please drop us a This email address is being protected from spambots. You need JavaScript enabled to view it. , or add your comments below.  We want to know what you are finding. 

Written by Craig Aberle 

Mobile Payments: The Benefits and Costs

Details

Published on Tuesday, 03 January 2012 15:50

Hits: 3745

Mobile Payments: The Benefits and Costs

Every business, large or small, should weigh the benefits and costs of accepting mobile payments to determine if it is a smart move to make. Making it easier for your customers to spend money on your goods or services is never a bad move, however there are some considerations to think about before committing to accepting mobile money.

The Benefits

From ensuring sustainability to expanding sales and profits, there are many reasons why accepting mobile payments are beneficial for a business owner. According to research, mobile money is on the rise and quickly increasing. Conservative estimates show mobile payments rising up to over $210 billion dollars in 2015. Another study noted that by the end of 2014, there will be over 500 million mobile wallet users. It can be greatly advantageous for a business owner to capitalize on all available payment methods, especially one that will be preferred by millions of customers.

Accepting mobile payments can increase the company's customer base and allow them to obtain instant payments from those customers rather than trying to collect on invoices and billing. From pizza delivery to photographers and from ice cream vendors to plumbers, there are many small businesses that can greatly increase their amount of transactions per day by allowing for instant credit or debit card processing.

Credit card equipment was expensive and contracts were long-term and difficult to cancel. With the advent of m-Commerce, mobile commerce, business owners now have the option to accept credit or debit cards regardless of their location. The equipment needed for mobile credit card processing is much more affordable and many merchant service accounts allow for cancellation with no fees.

Processing payments through a mobile device is quick, secure, hassle-free, allows for instant approval and transfer of funds and increases the flexibility of the business owner's sales options. By adding the option to allow for mobile payments, a business can capitalize on the expansion of their customer base with minimal out of pocket cost.

The Costs

The cost of the equipment itself will vary depending on which type of service is chosen. One standard piece of equipment needed is the mobile device. This could include a Blackberry, Android phone, iPhone or other compatible mobile device. You may also need other equipment such as a credit card swiper or reader that is either built-in a case that slips on the phone or can be plugged in and used in conjunction with the mobile device.

Business owners must also be aware of all the fees that can be charged to their account by accepting mobile payments. Merchant processing fees, third-party credit card processing fees, per transaction fees, account cancellation fees, swipe rates and other charges should be analyzed and identified before making any final decisions. Some mobile payment service providers may offer low introductory charges to gain customers, only to increase those charges after six months or a year. Often times, those charges turn out to be higher than other places that offer a standard rate. It is essential to read all the fine print in order to determine if a particular mobile service is right for your business. Other service providers may also require a minimum amount of transactions per month and charge a fee if that minimum is not met.

There are many benefits to accepting mobile payments, especially if your business includes goods or services that are frequently conducted off-site. Mobile payments can increase sales, increase flexibility and is an arena that is quickly growing and expanding. However, it is up to the business owner to weigh the costs against the benefits and to see if it is something that will cause his or her business to come out ahead.

{jcomments on}

Macy's New Digital Receipt - Capturing Email Addresses at the Point of Sale

Details

Published on Wednesday, 25 April 2012 21:01

Hits: 2529

   Stopping at Macy's today for a new bathing suit offered a pleasant surprise, or almost, at checkout.   After I swiped my credit card through the terminal,  I was prompted to enter my email address to receive a digital receipt. WOW - way for a retailer to make my day!!!   After dissing their POS system and procedures in a previous blog (Pernicious Point of Sale Procedure Pains Purchaser), I thought - this is a big step for Macy's,  they're getting green!! Fantastic. 

      The elation lasted about fifteen seconds, or almost as long as Kim Kardashian's marriage, as the cashier handed me a printed receipt.  My face fell.  Hmmm, I thought - well, maybe next time the receipt will be purely digital, like the Apple store?  I asked the cashier.  No, she shook her head, the receipts always print.  (Big sigh).   

    Ahhh well, maybe Macy's is working up to that.     How about it, Macy's IT?   Almost ready to take that bold step?  Or, how about using that little terminal to allow me to skip the printed receipt?  You know... ask me...  "Our records indicated you have signed up to receive digital receipts - would you like a printed copy anyway? (Y/N) "     I mean, like,  get wild.  Have a few beers at lunch, walk back to the computer,  sit down at the programming keyboard and really cut loose!  Get in touch with your inner POS programming guru! 

   I probably shouldn't bitch.  The entire transaction took under a minute, and that alone was a pleasant surprise after my last experience. 

    Footnote: As I was walking to my car I checked my email and there it was - a digital receipt.   Exactly 42 minutes later though, a second email came from Macy's with an advertisement and a 15% discount on my next purchase over $100.    Well, that didn't take too long. Memo to the Marketing department -  Want to keep the right to email me?    About once a month is all I want to hear from you!  I unsubscribed at Nordstroms and Jos A. Bank because they emailed me too often - so don't push it.  I will unsubscribe if you abuse your emailing privileges.  Consider yourselves warned! 

(BTW, nice bathing suit.  However, I'll spare readers a picture of me in it.)  

Written by Craig Aberle 

POS Customers Still Using DOS?

Details

Published on Wednesday, 31 August 2011 13:19

Hits: 2459

{jcomments off}      It's not everyday I get a phone call that makes me catch my breath, but it happened this morning.     I picked up the call, said "Hello",  and the voice on the other end said "Is this MicroBiz?"    Well, once upon a time there was this 800 number that was a MicroBiz number, but for the last ELEVEN YEARs its been forwarded to my cell phone, and I use it for my current business.  So this customer was calling for service on a software product he bought in the last millenium.   Yikes.    After a brief conversation, I suggest he go to www.microbiz.com where he can find a phone number for CamCommerce, the current owner of MicroBiz software.  Then he says, "Thanks, my DOS system crashed and I am trying to recover my data."    At this point I just cannot believe what I am hearing.   Windows software came out in the early 1990s, so this fellow has software he bought either in the 1980s or early 1990s.   And he's still running his business on it!    And still WANTS to run his business on a DOS system.  What is this saying about the business upgrade model for small businesses?    

     After I got off the phone, and recovered from the shock, it dawned on me that it was a 718 phone number , meaning it was local to NYC.  I called a fellow I know in NY (Tom Greco, at ComputerPerfect), who used to sell MicroBiz software to suggest that he give this fellow a call, knowing he was very familiar with this kind of issue.  Tom told me that as recently as last month had replaced an old DOS software system.   Again, I was amazed. 

     I wrote point of sale software back in the 1980s, never expecting it would still be running 25 or more years later.   I'm not quite sure what to think about it.  On one hand I'm flattered, on the other hand, it makes me wonder - Is there not enough innovation in point of sale to get business owners to buy new software?    I am looking for comments and feedback and intend to investigate this a bit, and write about it.

    Readers - just out of curiousity, how many of you are still running old DOS Point of sale systems?  Please comment below.  Resellers - if you're still finding and replacing DOS POS systems, please tell us about it. 

{jcomments on}