Barclaycard today took another step towards making its customers lives simpler by revealing that it is trialling a new mobile payments service, designed to allow retailers to accept card payment through their smart phone. The announcement was made by Dan Salmons, Director of Payment Innovation, at the Mobile World Congress in Barcelona, and is part of Barclaycard’s commitment to delivering innovation that will make life easier for both merchants and consumers.
Barclaycard has found that a number of small businesses such as plumbers , electricians mobile hairdressers & market traders all understand the benefits of card payment; including security, wide consumer acceptance and guaranteed payment. However many of them do not want the burden of carrying and managing additional equipment. Barclaycard is therefore developing a new mobile payments terminal to help these businesses accept card payments quickly and securely.
The new solution works by utilising the ‘computer power’ of today’s smart phones (such as the Apple iPhone) along with a small attachable device which will allow businesses to accept ‘Chip and PIN’ card payments from their customers. This is a truly unique solution exploiting the full security and protection that Chip and PIN gives to both the merchant and consumer.
Merchants download an application onto their smart phone which acts as a Virtual Till – allowing them to enter a payment amount or pick from a price list of their products and services. They can also add a discount or apply loyalty features before completing the transaction. The app then interacts with a small Chip & PIN device which enables the customer to enter their card and PIN. The cardholder will have the option to receive their receipt electronically via SMS and/or email.
As well as processing card payments the app will allow the merchant to log any cash or cheque transactions thus helping with end-of-day reporting. The transaction log will also allow them to view transactions over a wider period for example the past week, month or year.
Paul Cook, Managing Director of Barclaycard Global Payment Acceptance said: “Barclaycard is continually looking for opportunities to offer new products and services to its customers. We understand how important convenient, widely accepted and guaranteed payment is to small businesses and also how mobile phones play an integral role in their life and their business. Developing a service which brings mobile and electronic card payments together in a simple compact solution illustrates how Barclaycard continues to develop innovations that make our customers lives easier”
A pilot of the new terminal with selected merchants is expected during the second half of the year, with a launch anticipated towards the end of 2010.
The launch of this trial represents another example of Barclaycard’s role in providing innovative technology solutions. Recently Barclaycard announced the launch of Barclaycard Freedom, a new retail rewards scheme with over 30,000 retail outlets.
Barclaycard, part of Barclays Global and Retail Banking division, is a leading global payment business which understands the needs of both purchasers and sellers. It enables retailers and merchants to accept cards, helps customers make payments through card, contactless and mobile applications as well as extending credit to consumers. The company is one of the pioneers of new forms of payments and is at the forefront of developing viable contactless and mobile payment schemes for today and cutting edge forms of payment for the future. It also issues credit and charge cards to corporate customers and the UK Government. Barclaycard partners with a wide range of organisations across the globe to offer their customers or members payment options and credit. In addition to the UK, Barclaycard operates in the United States, Europe, Africa and the Middle and Far East.
Key facts published in February 2010;
- number of UK customers: 10.4m
- number of International customers: 10.8m
- number of retailer/merchant relationships: 87,00
