Archive for the ‘iPhone credit card app’ Category

iPhone might bypass the credit card associations

Tuesday, January 25th, 2011

Rumors say iPhone 5 may include Near Field Communication (NFC) technology. If Apple will indeed equip its next iPhone generation with NFC technology, it can change the way we pay.

NFC technology enables easy data authentication and therefore facilitates safely transmission of financial transaction data. iPhone 5 could easily replace the physical plastic card and communicate directly with retailers’ terminals.

Looking one step forward, Apple can turn the iPhone 5 into a fully functioning eWallet, bypassing the credit card associations altogether! As Apple already holds balances on iTunes gift cards, it can connect same balances, as well as pre-set bank checking accounts, to an iPhone 5 device and user, enabling same user to perform purchases using nothing but his new iPhone 5 device.

It’s still not clear if the upcoming iPhone 5 will indeed include NFC technology, nor if Apple is to take that extra step generating a new way of pay, yet assuming it does, with the current adoption pace of new iPhone apps, we might see the change coming our way sooner than we think.

Gidi Argov, Founder and CEO
www.CreditCardProcessing-r-us.com

Innerfence and AppNinjas entering the Card Present world

Wednesday, June 2nd, 2010

Innerfence and AppNinjas are about to make a giant leap into hardware devices and physical processing environment.
According to the practical ecommerce, both applications will support, within 60 days, a “hardware device” that will enable merchants to swipe cards instead of keying in transactions (no hint regarding the card reader type that will be used).

Derek further implies that such swipe transactions will be considered as Card Present (“running cards at a Swipe’s rate”) and will also enable merchants to enjoy “both online and in-person transactions” using the same one solution/merchant account.

Getting a Card Present approval from Visa and MasterCard isn’t easy. Verifone decided to disable the CNP scenario on their PAYware Mobile solution when they applied for a CP acknowledgment… Assuming such is achieved, it is still far from the vision of one solution for both scenarios: Card Present and CNP.

As both Innerfence and AppNinjas are using Authorize.net as a Payment Gateway, they cannot offer an ‘all in one’ account unless same is offered by Authorize.net. Other major Gateways and Processors are in the very same place and currently do not support such one account, so “hold your horses” on that vision for the time being…

Compare different iPhone Credit Card Processing solutions and go with the one that suits you best!

Gidi Argov, Founder and CEO
www.CreditCardProcessing-r-us.com

Is it safe to accept credit cards with an iPhone?

Wednesday, March 3rd, 2010

The real question is: “Is it safe to accept credit cards?” with or without an iPhone…

If you read the previous post you are well aware of the motivation and monthly numbers of web searches for stolen/faked/or otherwise hacked credit card numbers.

Accepting credit cards with an iPhone using an iPhone credit card app, is identical to accepting credit cards via any other computer web connected virtual terminal. As most virtual terminal users run a MOTO business, in which they never actually see the card, in most cases, when you accept a credit card with an iPhone, you’re probably on a safer ground, as unlike those MOTO businesses, you, at least occasionally, do see the actual credit card.

All iPhone credit card applications (included on our site…) are PCI compliance, as restricted credit card info is never saved on your smart phone. The second you process a credit card transaction, the info is securely sent to your payment gateway, and transaction details no longer include credit card information you are not supposed to maintain.

As a merchant accepting credit cards you need to make sure you use anti fraud measures, just like any other merchant. Many iPhone merchants, like other small merchants, use their payment gateway and merchant account provider to fully run the fraud management on their behalf. The real risk in this kind of an arrangement is a business loss, as your provider, might decide to decline a transaction you could have decided to take…

Gidi Argov, Founder and CEO
www.CreditCardProcessing-r-us.com

iPhone credit card processing – isn’t the card always present?

Monday, February 22nd, 2010

Linda doesn’t get it! When she accepts credit cards using her iPhone, card is always present! Gadgets or no gadgets – as Linda sees it, it’s a Card Present transaction…

Linda has a point – she charges actual cards presented to her using her iPhone, yet if the card is not swiped and Linda has failed to open a card present merchant account, no one (but Linda) knows…

At the end of the day it makes very little difference what Linda thinks about the transaction – it’s what the associations think that matters.

As using an iPhone app to accept credit cards is similar to accepting cards over the net using a Virtual Terminal, the associations relate to these transactions as they would to any other MOTO order processed online – a Card Not Present transaction.

If you wish to accept credit cards using your smart phone, visit: iPhone credit card processing.

Gidi Argov, Founder and CEO
www.CreditCardProcessing-r-us.com