Payment processing company WorldPay are the latest business to go after the micro-merchants card payment market, with the announcement that it is extending its pilot Pay As You Go Card Acceptance Service ahead of a full commercial launch in 2013.
The service like others in the on market uses a Smartphone app linked to a chip-and-PIN device and allows merchants to accept Visa and MasterCard debit and credit card payments. The charge for the pilot programme is GBP0.65(USD1.03) on debit cards and 3.3% on credit card transactions.
Go deeper with GlobalData
Pay As You Go Card Acceptance Service will be compatible with the iOS operating system and features the ‘Cardholder Not Present’ function which enabling merchants to accept card payments over the telephone.
Geraldine Wilson, WorldPay Micro Merchants Managing Director, said: "those merchants who don’t accept card payments risk turning away a significant amount of business. The pay as you go model makes it cost-effective for even the smallest businesses to accept cards and the set-up process could not be simpler, allowing micro merchants to take payments from any location and at any time."
700 start-ups and small businesses are currently using the trial service and WorldPay are hoping to expand this by offering the chip-and-PIN device usually worth GBP150 (USD239.29) to new customers for free. As a further promotional exercise the company will also provide the 30 merchants operating at The Prince’s Trust Christmas Fayre with the device.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
