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Online invoicing service WePay releases iPhone app
WePay is an online payments startup with a different mission -- allowing small businesses to send invoices and collect payments. The company has announced the availability of a free iOS app to give WePay customers the ability to invoice clients and charge their credit cards from virtually anywhere. WePay is different from other payment services such as Square and PayPal in that there's no card swiping involved -- credit card numbers are entered manually. WePay was previously targeted more at online collection and management of payments, with support for e-commerce, custom invoicing, donations and event registration and ticketing. With the new app, the company is hoping to attract businesses like contractors and designers who want to create and send professional invoices while on-site, and then accept credit card payment immediately from clients. The company charges 2.9 percent on-site + US$0.30 per transaction, and customers can accept all major credit cards.
Ask Engadget: is iPod Touch and Wireless Printer-based credit card processing possible?
We know you've got questions, and if you're brave enough to ask the world for answers, here's the outlet to do so. This week's Ask Engadget inquiry is coming to us from Dustin, who wants to turn the humble iPod Touch into a cash register for live events. If you're looking to send in an inquiry of your own, drop us a line at ask [at] engadget [dawt] com. "We currently have 10 credit card terminals we purchased three years ago, and we're looking to replace them thanks to their horrific failure rate and replacement cost. We only use them for special events, but they account for $24 million of our credit card revenue. Ideally I'd like to replace them with iPod touches and a wireless printer, but I can't seem to find a solution that offers printing -- but it's essential to what we do. Thanks for your help!" We found that Square lets you connect to a Star Micronics receipt printer, and Intuit GoPayment accepts Bluetooth-enabled P25 Blue Bamboo printers -- so those could work for you. Of course, Ask Engadget is about sourcing the opinion of our hive-mind, so if your business has already conquered this problem, why not share what you know?
99Bill produces first iPhone credit card reader in China
99Bill, a leading electronic financial service provider in China, is launching a new mobile payment solution that looks surprisingly familiar. The square-shaped 99Bill Card Reader plugs into the audio jack of your iPhone or Android device and lets merchants accept credit card and bank card payments on the go. The company is hoping to take advantage of the growing interest in mobile payments and smartphones, which are taking China by storm. Show full PR text 99Bill's Smartphone Card Reader to Enable Massive Mobile Payment in China 99BILL CORPORATION CARD READER 99Bill's Smartphone Card Reader to Enable Massive Mobile Payment in China. (PRNewsFoto/99Bill Corporation) BEIJING, CHINA BEIJING, May 8, 2012 /PRNewswire-Asia/ -- 99Bill Corporation, China's leading electronic financial service provider, announced the official launch of its new mobile payment product 99Bill Card Reader. By simply plugging the tiny 99Bill Card Reader into Smartphone audio jack, merchants can accept bank card and credit card payments on the go, and make more sales quickly. The patented solution supports both iOS and Android platforms. (Photo: http://photos.prnewswire.com/prnh/20120508/CN02862) Statistics shows that China has huge demands for card present transactions, but still lags behind other markets around the developed world where POS devices are extremely common. According to People's Bank of China, the nation had issued a total of nearly 3 billion bank cards by the end of 2011, an increase of 22% from the previous year. Meanwhile, there were only 3.18 million merchants using a total of 4.82 million POS devices in China. The 99Bill Card Reader creates an entirely new card present payment solution for merchants and consumers by tuning smartphones into POS devices. According to iResearch, China's leading internet-based research firm, there were a total of 72.1 million smart phones being sold in 2011 alone, an increase of 103.1% over the previous year, and this trend is expected to continue in 2012 with an estimated 113 million being sold throughout the year. The increasing penetration of mobile devices gives 99Bill Card Reader a natural edge in this market segment. With 99Bill's patented technology, the 99Bill card reader solution supports both pass code and signature based bank card transactions. This is especially important in the China market, where pass code enabled bank cards are the most common. Oliver Kwan, CEO of 99Bill, said, "We always position ourselves as a comprehensive B2B and B2C payment solution provider for business customers. This Card Reader can significantly increase the number of bank card acceptance devices in China and give our business customers more choices to accept payments. We will continue to introduce more innovative payment solutions that really work, and help our customer grow their business." The 99Bill Card Reader takes advantage of the convenience and ubiquitous nature of mobile devices to enable mobile selling for large companies and face-to-face transactions for small-to-medium size businesses. The first commercial use of such a product in mainland China, 99Bill has already signed agreements with three insurance companies to support their mobile sales forces. In China's mobile payment market, 99Bill has introduced a wide range of innovative products over times, including WAP, IVR, and InAPP based mobile payment services. As China's leading provider of electronic financial services, 99Bill provides a comprehensive suite of electronic payment solutions that are actively used in 20 major industries, including airline, online and offline retail, insurance, education, logistics, etc. In 2011, the company obtained the six payment service licenses issued by the People's Bank of China, the most of any e-payment company in the industry.
PayPal unveils Square competitor 'PayPal Here'
Small businesses that are using PayPal to process credit cards but considering the Square service are in luck -- PayPal today unveiled a competitor to Square called "PayPal Here". Like Square, the new service comes with a free card reader dongle. In this case, the card reader has been designed with a stabilizing "wing" that makes it much easier to swipe a credit card. PayPal notes that the reader comes with a free companion PayPal Here app that isn't in the App Store as of the time of publication. The iPhone or iPad that is used with the card reader needn't be online -- apparently the card reader can be used offline as well. The merchant simply needs to tap in an amount, then hand the phone or iPad to the customer. The buyer can add a tip, sign, and request a method of getting a receipt. If the merchant doesn't have the card reader with him/her, the app has a Scan Card feature that uses the device's camera to read the credit card number -- the merchant still needs to enter the customer's CVV and postal code. Scan Card also works with debit cards and checks, and the app can also be used to track cash transactions. Both the card reader and app offer encryption, and PayPal will charge merchants a flat 2.7 percent fee for the service. If you apply the income towards your PayPal debit card, which offers a 1 percent rebate on all purchases, your effective rate is 1.7 percent. That's a rate that Square can't currently beat. PayPal is also touting immediate access to funds, while Square has a built-in one-day delay. The service is being rolled out to a few thousand PayPal merchants in the U.S., Hong Kong, and Australia today, and should be available for everyone else in a few weeks. You can sign up to be notified of the availability of the app and readers on the PayPal website.
