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Services & Offerings
Making Yourself Different
Innovation
What's Next
Industry Players
Local Business
Dennison Pottery: John Dennison
Simply Pure Salon & Spa: Anna Peterson
Chocolatier Blue Omaha: Colton Steeve
Contactless Payments
RFID Based Card Fob Phone
Existed for many years EMV cards Tap to pay
https://www.hostmerchantservices.com/2012/02/visa-kicks-open-the-door-for-chip-cards/
Near Field Communications NFC
Type of RFID Approx 4 cm range Integrated into
many phones More than just
payments▪ Authentication▪ File Transfer▪ Contact Information
Transfer Photograph by Chris Ratcliffe/Bloomberghttp://www.businessweek.com/articles/2012-05-25/mobile-payments-coming-to-a-loyalty-deals-app-near-you
Mobile Payments Security Liabilities
Early lack of encryption
New malware targets
Strengths Encrypted financial
data Less risk of secure
data being compromised at the POS terminal
Square reader on the right includes encryption (and has a battery for power)
http://venturebeat.com/2012/03/26/square-adds-encryption-to-its-square-reader/
Mobile Payments User Data
Detailed view of user data available to merchantshttp://www.quora.com/Square-product/Can-merchants-see-a-customers-tip-history-with-that-merchant
Technical Issues
More reliable card reader Some users carry 3-4 card readers
just in case one of them doesn’t work
Applications not working correctly and you lose a sell this way
Offline transactions- saving customer data
Connections to wi-fi
Areas for improvement
Security Encryption Fraud detection VeriFone claimed that the square can
be re-programmed and client information can be attained.
Card Case
Square offers Card Case, which acts like a mobile wallet
Point of Card Case is to speed up transactions
Functions like a tab with a business you frequent
Tabs feature
Using Square’s Card Case, the first time that your card is used at the business, it will work just like normal.
In your receipt, you click a link and sign in using your square account to set up Card Case.
Next time you come into the business, just give your name.
The merchant will then charge your tab.
Tabs Feature (cont.)
Safety measures include: Location checking to ensure you’re
actually present Email receipts for every transaction to
ensure easy tracking Easy cancellation of transaction via
receipt Photo must be uploaded with your
account so merchant can check if it’s really you
Are mobile payments really worth it for businesses?
Small business owners definitely seem to think so Interview – very successful
Owners like: Lower, flatter rate fees Increased portability Modern look
Do want to see more features, based on past the future looks promising.
Consumer-to-Consumer Payments
Could be used for things like paying back a friend that loaned a small amount of money or other non-business transactions
Doesn’t seem to be catching on as quickly as some would like Hardware issues occasionally cause problems The fees are main deterrent – there are no fees
to pay someone with cash. With lower fees and future technology
improvements, the use of these payments could eventually outpace the use of cash.
