New Payment App Poses Threat to Square
There are interesting developments happening these days in the mobile payments and mobile point of sale worlds. The Point of Sale News recently investigated a mobile payments solution that we think could pose a major challenge to Square, Intuit GoPayment, and other existing mobile point of sale solutions. The mobile payment platform from Flint is available free of charge in the iTunes App Store; does not require external hardware or readers; and uses the iPhone’s camera to scan credit card information and process payments.
Other features that set Flint apart are the searchable customer transaction database and its easy integration with Facebook for social media marketing. When customers make purchases with the Flint mobile app, they can select the email receipt option, which saves on printing costs while also keeping things green. Flint’s seamless Facebook integration allows merchants to encourage customers to engage with business’ social media profiles by including dedicated social media links in emailed receipts. The intention is to encourage customers to rate and broadcast their purchases and experiences on the company Facebook page. According to Flint Mobile’s CEO Greg Goldfarb, “Flint’s mission is to empower small businesses and individual entrepreneurs to easily accept payments and maximize their client relationships—all through a simple, mobile-centric approach.”
There are more reasons this mobile app is an exciting alternative for mobile-minded merchants. The credit card processing rates are generally lower than Square’s, and merchants can get up and running with Flint with almost no wait time since the app does not require an external reader to be shipped. There are no startup costs, and the app’s design and function is sleek and streamlined for easy merchant and customer use.
The mobile payments market is becoming increasingly crowded, and as more solutions are developed, the competition will continue to drive innovation. We recently ran an article on how Square helped a small business make the leap from one level to the next. It will be interesting to see how Flint will pose a challenge to Square, which is generally considered to be the mobile payments leader in the current market. We see many potential uses for Flint in small business operations that require total mobility and portability. Makeup artists, photographers, event planners, contractors, painters, and many more could benefit from the mobile payments platform with no external reader and sophisticated social media marketing functionality.
Check out a video demonstration here.
What are your thoughts? Do you think Flint is a viable contender for Square and the other external reader mobile payments solutions? Have you used Flint? What were your experiences? Share them with us in the comments!
About Flint Mobile, Inc.
Flint is the mobile payments company that is creating the easiest way for mobile, non-countertop businesses to accept credit cards and find new customers through integrated marketing. A registered Payment Service Provider, the company’s iPhone app enables users to accept credit card payments easily and securely using only their phone – without any additional hardware. Founded in 2011 and headquartered in Redwood City, California, Flint is backed by top-tier venture capital firms Storm Ventures and True Ventures. For more information, visit http://www.flint.com.
Written by Kathryn Cunningham