Sage Pay, the UK and Ireland payment processor, has introduced a new mobile payment solution aimed at small businesses. The new product, Sage Pay Mobile, enables businesses to accept card payments using their mobile phone to authorise transactions.
Sage Pay Mobile changes the way businesses without a fixed location are able to accept payments. The highly-secure, handheld terminal connects to a merchant's smartphone via Bluetooth, and encrypts the data from a customer's card at source, so the merchant and their phone never see the card details. The solution is already approved with the major UK acquiring banks and meets the very latest PCI terminal security standards.
By enabling businesses to accept card payments through mobile devices, the new Sage Pay solution is set to transform business opportunities for UK small businesses. With 136 billion* worth of card transactions made in the UK every year, this technology can also enable small businesses in the utilities and services sector such as electricians and plumbers to extend credit payments to their customers for the first time and unlock small business growth. The mobile solution seamlessly integrates with the Sage 50 Accounts Mobile service to help retailers effectively manage their entire business flow, end to end and on the move.
Sage Pay CEO, Simon Black commented: "There are over half a million businesses in the UK who are still unable to accept card payments. Small businesses need to be able to take payments anywhere and at anytime with a reliable card reader. Furthermore, this solution provides a real boost for Sage 50 Accounts Mobile users by enabling connected services"
Mat Peck, head of innovation at Sage Pay, added: "This solution brings innovative payment technology to the UK and Europe, in a manner that is standalone, cost-effective and highly secure. The Sage Pay solution uses the only mobile card reader in the European market that meets all the latest security, encryption and Chip and PIN standards."
The Sage Pay Mobile product is a collaboration between Sage Pay, payments specialist CreditCall and hardware supplier Thyron, utilising the combined expertise of all three businesses to deliver this innovative payments solution.
Sian Bosley, CreditCall's Commercial Director explained, "Drawing on CreditCall's 14 years payment experience, we settled on nothing less than full compliance with all the industry security standards, so the solution is one in which cardholders, merchants and card schemes can have total confidence."
The initial release of Sage Pay Mobile will be as a pilot scheme.