Merchants that want to accept debit card payments now have the option of using their smartphone or tablet to do so with a new hardware accessory from Moneris.
Launched today, Payd Pro is the first mobile payment accessory that will take debit card payments using chip and PIN technology. Other solutions on the market like Square and Payfirma will only accept credit card payments. Moneris also has been selling its Payd device for accepting credit cards on a mobile device for more than a year.
Rather than working as a dongle that connects directly to a headphone jack on a mobile device as other mobile payment solutions do, Payd Pro works via Bluetooth. The device is about the size and weight of a smartphone and also comes loaded with a suite of mobile commerce management tools that enable transaction tracking and sending receipts to customers via e-mail. Merchants use an app available for iOS and Android platforms to operate the wireless accessory. Moneris says the Payd Pro device will be compatible with iOS and Android devices.
Moneris announced the device on its Facebook page and was fielding some questions about its availability and operation.
Security concerns are addressed by encrypting card data at the time of the transaction, Moneris says. The portable device also uses Bluetooth encryption and prohibit unauthorized devices from accessing the tool or information passed through it.
Canadians are being invited to register now for the Payd Pro device. A monthly fee of $19.95 plus tax will be waived for the first three months for those that register before Feb. 28, 2014. The service includes 200 free debit transactions each month and a 2.75 per cent rate on credit card transactions.
The service will go live in February2014, Moneris says.