Tag: mobile payment app

This new service is geared toward companies that receive funds through traditional paper checks.

WePay, a startup located in Palo Alto, California, has just announced that it is taking its first steps into the mobile payments marketplace by using its technology to help to replace paper checks.

The first app from the company was released last week and is designed for use by iOS only.

Though the company had previously provided online services, this app opens it up to mobile payments on iPhones and iPads. The application allows both the owners and employees of small sized businesses to be able to process credit card transactions and create invoices through their tablets and smartphones.

Though this may sound similar to other mobile payments services, it does stand out in some ways.

According to the CEO of WePay, Bill Clerico, though it may sound as though it is somewhat like Square or GoPayments, it is unlike them because it does not use an external credit card reading devices in order to make the transactions faster to process. Instead, the digits of the cards will be entered into this system the “old fashioned” way, but using a numeric keypad to type them in.

Clerico explained that “If you’re running a food truck or something where you have hundreds of customers a day, there is no way you’re going to use our app,” however he did go on to say that the app is not aimed at those customers. Instead, it is meant for businesses that employ 10 or fewer people, and whose transactions are primarily made up of checks. He explained that “I think our biggest competitor is paper.”

Clerico also added that when all is said and done, this mobile payments app means that small businesses can process transactions in a number of different ways, and this will help to keep them all in one place. He believes that this is an important step for the company, as smartphones and tablets are becoming increasingly important for processing, and desktops are losing importance in this area. He feels that the niche that his company has found will help to secure its position in the “noisy” market.

Though there were a number of missteps throughout 2012, many believe 2013 will turn things around.

Last year, many of the players in the mobile payments industry had expected the use of smartphone wallets and similar services to take off, but the actual figures fell far short of the mark.

This year, experts in the industry believe that 2013 will represent a major turnaround in this area.

That said, the experts don’t believe that it will be Google, Isis, and the other joint venture mobile payments wallets that will take off this year. Instead, the attention is turning toward the banks that have been lining up to make their own way into the world of smartphone transactions.

This opinion is shared among a panel of 200 mobile payments industry experts.

This panel is made up of industry executives, insiders, and developers, who all share the belief that 2013 will be the year that is the most compelling for consumer mobile payments applications. They also stated that social networking and location apps will play an important role in the industry as a whole.

The results of a recently conducted survey by Chetan Sharma Consulting have shown that mobile payments and mcommerce will not only take off, but the power behind them will not be the traditional internet players. Instead, it will be the traditional financial companies.

According to the participants in the survey, they feel that Google, carriers, and the various popular new startups such as Square have had their chance to appeal to consumers and make it big, but that as a whole, they failed to make the impact that they had been hoping to make. Instead, it is the turn of the large credit card companies (such as Visa and MasterCard) and the banks and other established financial companies (such as PayPal) to step in and clean up the damage that was left behind.

It is those companies, said the survey participants, who will make the largest difference in mobile payments, and that will offer consumers the mobile security level and the type of services that they have been waiting to see before taking part.