Philip McHugh, Chief Executive Officer at Barclaycard Business Solutions, explains how recent innovations in technology offer merchants new solutions with added benefits.
TURN YOUR MOBILE PHONE INTO A POS TERMINAL
Traditionally, using card payments, especially for mobile merchants was a real challenge. There wasn’t a solution or an offer in the market, so many of these merchants were left with really just cash or invoicing and that’s a real limitation for someone’s business. In cash you’ve got to deal with more expense. You’ve got security issues and with invoicing of course there’s the risk of delayed payments or no payment at all, which is such a critical factor for an emerging business trying to become successful.
But with recent technology in the last year or two you’ve seen a huge amount of great offers for merchants where you can effectively turn your mobile phone into a point of sale terminal accepting credit and debit card transactions with chip and pin and full security, but also great added benefits in terms of information, location of sales, to really power their business. It’s a great solution.
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