Originally published November 18 2005
Personal wireless devices swipe credit cards anywhere
by Mike Adams, the Health Ranger, NaturalNews Editor
Independent and small business owners, as well as large restaurant chains, are utilizing the extreme ease of swiping credit cards on the spot. A cell phone equipped with card-acceptance software runs as low as $200 or $250.
Plumbers, limousine drivers, flea market proprietors and merchants of all size and stripe are beginning to take credit and debit cards in odd places, often using nothing more than an ordinary cellphone.
Now that wireless networks span the globe and devices that tap into them are cheap and reliable, expectations for the technology are running high.
Already, some U.S. restaurants are installing wireless systems that let waiters swipe your credit card tableside - a practice that is widespread in Europe, as are taxis that accept credit cards in the car.
A day could soon come when a clerk at a large department store will ask you in the aisle if you would like to check out there.
Wireless credit card acceptance is not new.
But within the last year or two, as wireless companies have improved their networks and hand-held devices have come down in price, the technology has started to look like an attractive alternative to dial-up payment machines.
Security is not a concern, because the wireless devices convey account information with the same heavy level of encryption as plugged-in terminals, if not more.
For merchants who normally phone in customers' credit card numbers for approval, there are price breaks: Banks charge retailers a lower rate when the actual card is swiped and the account information is conveyed electronically.
"The average cost per merchant on a monthly basis is $20 to $30, which in most cases is less than the cost of a phone line," said Paul Rasori, vice president for marketing at Verifone, a terminal maker based in San Jose, California.
For small merchants, a cellphone equipped with card-acceptance software can cost as little as $200 or $250, which can often be recouped through higher sales volumes or lower card-acceptance fees.
All content posted on this site is commentary or opinion and is protected under Free Speech. Truth Publishing LLC takes sole responsibility for all content. Truth Publishing sells no hard products and earns no money from the recommendation of products. NaturalNews.com is presented for educational and commentary purposes only and should not be construed as professional advice from any licensed practitioner. Truth Publishing assumes no responsibility for the use or misuse of this material. For the full terms of usage of this material, visit www.NaturalNews.com/terms.shtml