Allied Irish Banks and telco Eircom have teamed up to launch a mobile card reader allowing small businesses and sole traders to accept card payments.
The joint venture, dubbed ‘Pogo’, allows traders to accept card payments via smartphone anywhere within wireless coverage.
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AIB Merchant Services general manager David Courtney said: "People who used to just accept cash and cheques can now accept credit and debit card payments. Dyno-Rod is our first customer. They can accept card payments when they go to people’s homes for a job.
"There is a convergence between payment providers and telecoms companies as smartphones are being used for purchases more and more," he added.
To use the mPOS device, the merchant enters a product or service to be paid for, selects an item from the catalogue or scans a barcode on their smartphone.
The customer can then insert their card into the reader and enter their PIN, as with a normal reader and has the option of receiving a receipt by email. The device comes with an accompanying app, which is free from the App store or Google Play, whereas the reader itself costs 100 ($136) up front.
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By GlobalDataA monthly merchant services fee of 10 applies, as do processing fees of 2.75% per Visa or MasterCard credit card payment and 50 cents per Visa or Maestro debit card payment. The reader can be used to pay for anything up to 1,000.
Competitor mPOS provider iZettle charges £59 per device and transaction fees start at 2.75% and drop to 1.5% with high sales volumes.
Square, which does not operate in the UK or Republic of Ireland, charges 2.75% per card transaction but provides readers for free and there are no other costs.
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