California Small Business Services, Eclipse Disappearing Screens and a California restaurant called Le Blue Zen are just three companies currently using a handheld-based mobile payments solution from eProcessing Network.
Using Palm VIIx or Palm i705 handhelds, eProcessing Network’s handheld payment application, the Palm.net service, and Scanning Devices clip-on magnetic stripe reader, card and transaction data is being captured at the point of sale and processed by eProcessing Network. Signatures are captured and emailed to the retailer for their records.
eProcessing Network has deployed about 60 Palm VIIx and i705 handhelds to retailers since November 2001. The solution is sold to retailers by 375 ISOs nationwide.
In addition to providing merchants with the hardware and software required to accept mobile payments, eProcessing Network provides a secure online merchant support center where a merchant can log onto eProcessing Network’s system to do reporting, control their batch, etc.
Some competitors are offering similar mobile payment solutions but there is one key difference. eProcessing Network is the first PDA-based payments solution to be certified for swiped transactions, not MOTO (manually keyed in) transactions. Manually keyed transactions incur a higher authorization fee than swiped transactions, since the risk of fraud with a swiped transaction is less because the retailer actually had the card present when the purchase was made.
Another difference with eProcessing Network’s solution is that they don’t require a unique merchant account for each handheld device, so it is easier to administer this mobile solution than one that requires separate accounts for each device.
How a Transaction Works
eProcssing Network software on their devices is Palm software that reads the mag stripe reader and send the card and transaction information to eProcessing Network across the Internet. That information is processed and the retailer gets a response on the screen of their Palm handheld. If approved, eProcessing Network prompts for signature on the screen. Once the signature is entered on the handheld the retailer can point the Palm at a printer through IR to print a receipt with the signature… they can also transmit the signature to eProcessing Network who formats it to a ping file and emails it to the merchant’s main email address so the merchant can retain the signature on file as required by the card associations. A Ping file is small, 200-300 bytes, so easy to store. The retailer can pull it up in their browser when they click the attachment. eProcessing Network also offers transaction services via an online terminal, USB swipers that work with a PC, and online transactions.