Tag: mobile payments service

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.

The new service that could result may give a considerable advantage over competition like Square.

Two of the largest players in mobile payments – PayPal and NCR – have just announced that they will be working together in a major new deal that may help to create a significant advantage for themselves within this marketplace.

This should help PayPal to gain a notable edge when compared to its competition.

This could be unwelcome news for Square, which is the primary competition within that sector. The assistance of the point of sale company, NCR, could give PayPal a great deal of additional weight. The agreement will bring mobile payments from PayPal into the apps and services from NCR that are commonly used by retailers and restaurants.

It will begin by simply adding a PayPal mobile payments checkout option within NCR’s Pay application.

This will provide restaurant patrons with the opportunity to use their smartphones to use PayPal to pay for their meals. However, the services will expand from there over time. Soon, there will be a PayPal dining experience in which it will be able to use its own mobile payments apps whenever a customer checks in at a participating NCR location.

Though this may sound like a light deal at first – particularly as PayPal has already recently announced that there are 23 retailers currently using its own point of sale solutions – this could end up being one of the mobile payments company’s most important developments as it seeks to lead its industry. NCR is not in any way new, having been established 128 years ago. It currently powers the POS for half of all of the major retail chains, as well as 38 percent of the leading 100 American restaurants. This will provide PayPal with a tremendous amount of reach as they gain access to millions of customers through NCR.

That said, NCR isn’t working exclusively with PayPal for mobile payments. It has also created a deal with Google Wallet and has indicated that it is available for agreements with other providers, as well.

Beyond mobile payments, the PayPal and NCR deal will also give consumers access to special offers, coupons, and other types of discount deals, starting in gas stations, restaurants, and small convenience stores, and broadening from there.