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Useful iPhone/iPad App for taking Credit & Debit Cards

Chris chirnside

Chris chirnside

New Member
If you don't have a need for a card processing Terminal, you can now use your Smart Phone to take payments. It is a great way to improve cash flow and make sure you can get paid on time!

You can apply online through this website www.chipandsim.co.uk
 
Scottish Business Owner

Scottish Business Owner

New Member
Hi Chris,

This looks like a really amazing step forward in technology. It seems similar to Square in the US although I believe you don't use the little reader thing.

I wonder if I could ask a few questions for the benefit of our users.

How do the merchant charges using this system compare to a normal credit card processor?
How do transfer of funds work? Are there any major delays?
What's the charge back policy and what indemnities are typical?
I'd also be interested in your thoughts about how you get people past the whole trust thing of doing this on an iPhone or iPad. If someone was to put an iPhone in front of me to take payment I have to be honest I would have a few concerns.

Look forward to your response and nice to see you on the forums :)
 
Chris chirnside

Chris chirnside

New Member
Hi

As I work in Merchant Services as a day job, supplying Chip & Pin Terminals and Merchant Accounts, I have been following developments very carefully over the past year or two.

The reason I recommend this instead of others is because it is an actual Merchant Account and not just an app! Also as there is no need for hardware, it is simpler, there is less that can go wrong and you won't lose the app!

In Answer to your questions: In Blue

How do the merchant charges using this system compare to a normal credit card processor?

I would say slightly higher at 2.00 %, Monthly charge is £10.00 - instead of Terminal Lease £30.00 and Minimum Monthly Charge £20/£30.

There is no equipment lease and no contract. You can leave with a months notice

How do transfer of funds work? Are there any major delays?

Funds are transferred 3 to 7 Working days. Bang in the middle from experience so-far!

What's the charge back policy and what indemnities are typical?

Like all card acquirers, CashFlows®, if possible will submit the evidence provided by the supplier to attempt to reverse the Dispute with the buyer's credit card issuer.

If the credit card association determines that the Dispute was justified, the supplier will have to bear the cost of the Dispute and any admin fee associated with it.

This is the same for all Merchants

I'd also be interested in your thoughts about how you get people past the whole trust thing of doing this on an iPhone or iPad. If someone was to put an iPhone in front of me to take payment I have to be honest I would have a few concerns.

Using an iPhone/iPad/iPod Touch is exactly the same as using a 'Portable GPRS Terminal' used by millions of people all over the world. They also have a Sim Card to transfer the data.

There is no data stored on the device after the transaction completion and the app is fully compliant with PA-DSS regulations and uses 128-bit SSL certificates for a high level of transaction security.

Phew! I hope that answers your question, without boring you to tears!!

Thank you for your interest

Kind regards

Chris
 
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