For years’ card payments had been restricted to flimsy hardware and card reader machines. PDQ machines, portable card machines, heavy card reader machines were the only real options. The cost? Big. The inconvenience? Massive. It came to the point where businesses had stopped taking card payments altogether because it was just too expensive. You needed a merchant account, you needed to pay for PCI, you needed to have a card reader. You might have needed to pay more to take a certain type of card like an Amex or have to pay more just to take a card payment over the phone. There were no credit card readers for small businesses. It just didn’t work.
This was becoming a growing issue, because the preference for paying by card was growing, fast. Businesses were losing out on revenue by not having this option available. BACS, Cash, Cheque? These were slowly fading out and the demand was growing, the supply for a solution was not.
Then contactless came into play and credit card payments were becoming an even more frequent option. Companies like WorldPay, PayPal and iZettle had come into the market with mobile payment solutions of their own, which still incorporated the need for a card reader. The problem of inconvenience had dropped slightly, but the problem of price was still very prevalent. You could now accept credit card payments on android or credit card payments on iPhone. They had finally created credit card readers for smartphones and were fighting it out to become the best mobile credit card processing system on the market, with no clear winner.
It took a while before we saw a real change in the market. Businesses didn’t only want to take mobile payments but also wanted to run their business mobile. This included doing their paperwork on the move and keeping track of jobs to maximise their efficiency. Unless you had 4 or 5 separate systems to deal with this and you paid a large amount of money, this wasn’t possible.
Enter SmartTrade App, finally a breakthrough was made. The card reader attached to the headphone socket of your phone? Gone. Receipt printers? High transaction fees? Gone. It’s the only app of its kind in the market which made it possible to take card payments and deal with all business administrative tasks straight from your smartphone. How does it work? The card reader is replaced by a very clever card scanner. It takes literally seconds for a card payment to be processed on the smartphone and it also gives you the flexibility to control how the card fee is paid. You may have visited a shop where they charged you an extra 50p to take a card payment or force you to meet a minimum amount to pay by card. SmartTrade App allows you to roll on the card fee or split it with your customer in a seamless way, saving businesses a lot of money. There is a flat rate for Accepting Visa, Mastercard and Amex and you do not need to pay more to take card payments over the phone or get paid by link.
What’s the future for card payments? With Apple Pay and NFC emerging the way we can only really see hardware being eliminated completely. Cash will become a much more uncommon payment option, with Cheques disappearing and Bank Transfers having to find new ways of keeping up.
SmartTrade App is making big strides in bringing mobile to the forefront of card payment solutions globally and is ready to change the way businesses work in the UK.