How The IPhone Credit Card Reader Works

July 13, 2012 · Posted in Business · Comment 

The iPhone credit card reader has contributed to changes in how point of sale payments are processed. Business people are now able to process sales at different locations without being tied down at one place. Transactions are processed securely and data safety is upheld. The data transmission channel is encrypted and no customers’ personal information is stored on the phone.

Few requirements are needed when getting started. A small reader is attached onto the phone, and an application installed in the phone is used to capture data and transmit it to the processor. No other hardware or software is needed to begin processing sales. Although other features can be added, the basic functions do not require much resources to set up.

This is advantageous as it enables the user to learn and understand how to use it quickly. Less time is therefore spent learning and instead, it freed up for use in more productive tasks. Although getting started is easy, security is not compromised in any way. The application requires a password in order to begin processing a transaction. Unauthorized people can therefore not take the device and manipulate it.

Incidences of fraud are further reduced by processing every transaction in real time. By confirming immediately after a sale that the transaction has been handled properly, the seller is protected from losses. If the sale does not go through, the merchant gets notified about it right away. If need be, receipts can be configured to be delivered in several ways including email and text messages.

Data transmitted into and out of the system is secured from unlawful access by the unauthorized parties. Encryption is the technology used to make this information unreadable by the unintended person. Only the authorized systems are able to decode the data, read and understand it’s meaning.

After a sale has been completed successfully, the buyer’s information is stored by the processing bank. Sensitive client information is not stored on the phone due to safety issues. If by bad luck the phone gets in to the wrong hands, there is no data in there that may be leaked out. This ensures that client information remains confidential as it should always be.

An iPhone credit card reader is a device that influences the way payments are processed. Those who visit clients at their premises, for example, can now do so and get paid without much hustles. Transactions are completed fast and securely which reduces the risk for everyone involved.

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The Pros And Cons Of The Square IPhone App

June 10, 2012 · Posted in Merchants · Comment 

Despite worries regarding the security of financial details that the Square iPhone app uses, it is becoming increasingly popular. This is because it is a simple and incredibly useful invention that utilizes the iPhone which is growing in popularity. With the advances in technology that are occurring everyday this app is likely to be used by many more people across the world.

One of the possible issues that causes the most concern for users is the risk that the app poses in relation to security and fraud. As it is so quick and easy to use this means that if it were stolen it could easily be used by the thief. However, as these risks are relatively low it has not affected the popularity of the equipment.

For people that have busy lives and a limited time in which to buy their breakfast or lunch this app is very helpful and saves time. It should result in shorter queues and less time spent waiting for payments to process. This may only cut a few minutes time off, but it also results in lower stress levels that are caused by repetitive queuing.

Unfortunately as things become easier for people to make payments they also become easier for theft and fraud. While there are security measures in place it is also relatively easy for this app to be manipulated and used to steal funds. However, the possible damage is limited as only small payments can be made using the app.

Although both this app and the iPhone are becoming more popular, not everyone owns one and this is reflected by the fact that not all cafes and restaurants own the equipment to receive this type of payment. As the smart phone becomes a necessity in every home it is likely to become a standard payment form across the world. However this progress is yet to come.

As this type of app has become so popular there are different version that are also being made. The different types of smart phone are not always compatible with apps for the iPhone. Because of this there needs to be either one that is compatible with all smart phones, or equipment in shops that is compatible with all apps.

While the Square iPhone app is becoming increasingly popular it does come with some risks. Many people are not concerned about the risks as they have insurance against fraud and this is advisable whether the app is used or not. Overall the app is suitable for old and young alike and should be more available in the near future.

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