Sunday, August 29, 2010

Merchant Services By iPhone

Square looks to be a great new concept that enables anyone to accept credit card payment via an iPhone.

Merchants in New Zealand that are grappling with the new chip cards that seem to take an age to process and spending time untangling wires from antiquated EFTPOS keypads will find the slick way that Square handles transactions appealing. 

There have been a few teething problems and the payment system is only available in the States, however by the time Square it lands in New Zealand the problems should be ironed out.

This is an exciting new concept and looking at the what has been offered to American merchants, Square (or another similar service) has the potential to dramatically stir up the few companies in New Zealand that offer merchant services. It will be a relief for moteliers that the end may be nigh for restrictive term rental contracts for EFTPOS hardware and services.

Here's a more of a detailed rundown of the transaction process:

Not only does Square have the potential to benefit motel merchants, this video also demonstrates that that this nifty credit card processing application can also be used by motel guests;-)

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