Verizon has taken a lot of heat in recent times because of its data limits and earlier on because of their deal with Google, which some perceive to be ‘anti net neutrality’. But now, Verizon has come up with a fairly revolutionary hardware/software solution that I think is going to very useful to a lot of people.
Mobile Credit Card Reader
Imagine that you want to set up a business. One of the more important aspects of running a business, is setting up a way of allowing your customers to pay you. Thanks to Verizon’s latest invention, setting up a payment system is going to be a real breeze. Verizon’s Intuit GoPayment credit card reader can be installed on an Android smartphone. The required hardware add on is a card slot. The software handles the actual credit card transfer.
The card slot add on does not require any special technical knowledge to install. You hook it up using the audio jack, in which you’d normally put your headphones. Looks like you won’t be receiving payments while listening to your favorite mp3 list. The card reader will work on any Android device, so tablets could also make use of it. BlackBerry and iOS also support this mobile payment system.
Something tells me that mobile devices already have one hell of a lot more computation power than any regular ole’ cash register. Imagine the software plugins a guy (or gal) could possibly write to work along with the Intuit GoPayment system. You could completely automate your entire accouncy work. Tough times ahead for accountants!
Naturally, there will be fears over this mobile payment system. People are going to be asking themselves whether or not their data will be secure. Android Community claims that no actual credit card data is ever stored on the phone that reads the card. Furthermore, the data is encrypted twice: once in the card reader itself and once by the software.
That all sounds safe to me. I’d probably use this system myself if I were running a shop. I have a feeling that this sytem will quickly conquer people’s hearts, despite initial security fears. The fact that the paid version of this system is a very affordable $12.95, will probably also help a lot in the mass adoption of it.
A few months ago, Google announced their Google Wallet initiative. Shortly after Google’s announcement, various sources on the web reported that mobile payments were expected to get real big in the near future. PayPal is also doing mobile payments already. The Intuit GoPayment is another mobile payment system added to the mix. I have a feeling there will be a lot more in the near future!