Today Newspaper 7 March 2006
Retailers on the move now have another payment collection option other than cash. Local wireless network operator Digital Network Access (DNA) Communication is collaborating with Mobile Credit Payment (MCP), a wireless solutions provider, to offer retailers a portable, wireless credit card payment system.
All the merchants need is a lightweight and compact credit card read from MCP, called the McPrinter, and a special mobile phone from DNA communications.
Loaded with proprietary software from MCP, the phone serves as a point-of-sale terminal and can be used for ordinary voice and walkie-talkie communications.
The McPrinter accepts Visa, MasterCard and American Express credit cards.
It also functions as a printer to churn out receipts instantly once a transaction has been approved.
"This solution is best suited for companies to enable their mobile workforce to collect payment promptly,"said Mr Anthony Koh, marketing and IT director at MCP."Since the launch, customers including law firms, travel agents, exhibition companies, mini-mart operators, bridal shop owners and watch retailers have signed up for the service."
Clients using MCP's wireless system including Ademco (Far East),Church of St Mary's of the Angels, East Asia Law Corporation and Christian Armani L/G Tailors.
Merchants can rent the terminal with the phone on a daily or yearly lease. Rental charges can be as low as $1.50 a days, inclusive of air-time data transactions.
If you are concerned about security, the phone application developed by MCP incorporates a feature that requires the verification match of unique subscriber identity module number, the registered phone number and the user’s identity card number.
In addition, credit card data is encrypted ant the first 12 digits of the credit card numbers are masked. "No records of the user's credit card details are stored in the phone to further protect the cardholders," said Mr Koh.
MCP's wireless credit card payment system is also available in South Korea, where there are more than 20,000 users currently.