A new payment system being introduced by AIB and Eircom will allow SMEs, micro-enterprises and sole traders to accept debit and credit card payments on the go.
The Pogo system is a mobile card reader which enables credit and debit card payments anywhere with wireless coverage via smartphone.
The SME or sole trader can enter a new product or service to be paid for or select an item from the catalogue or scan a barcode on their smartphone.
The customer then inserts their credit card or debit card to the Pogo card reader, enters their pin securely and the payment is processed in seconds.
An email address can be entered after the payment is made if the customers wants a receipt emailed to them.
The merchant will receive the funds direct into their nominated bank account within days.
AIB Merchant Services, a payment processing joint venture between AIB and First Data, formed a strategic alliance with Eircom Business Services to offer the Pogo system to merchants and consumers.
The product will be distributed through Eircom Business Solutions’ sales channels as well as through AIB’s branch network.
AIB Merchant Services general manager David Courtney said the system can be used by everyone from stalls at farmers' markets to restaurants or coffee shops which do occasional outside catering.
“People who used to just accept cash and cheques can now accept credit and debit card payments. Dyno-Rod is our first customer. They can accept card payments when they go to people’s homes for a job.”
He said the system is an important advance in enabling Irish businesses with new payment solutions at a time when the National Payments Plan is encouraging SMEs to migrate from cheque and cash usage.
He said smartphones have led to a rapid convergence between payment processors and telecoms industries, and will be a key channel to enable banking customers to manage their businesses.
“There is a convergence between payment providers and telecoms companies as smartphones are being used for purchases more and more," he said.
David Walsh, director of commercial and SME at Eircom Business Solutions, said SMEs' needs are evolving, and innovation in the mobile and banking industries "is critical to deliver new solutions for our customers".
AIB said it was also rolling out a Clover system with Eircom following a successful pilot programme.
The Clover system replaces the cash register, payment terminal, receipt printer and barcode solution with an all-in-one terminal.
A cloud-based system means sales can be viewed in real time from anywhere. Inventory can be managed remotely, revenues can be tracked and reports generated.
