Elavon Transforms Mobile Phone into Payment Terminals
Elavon, a subsidiary of US Bancorp and a global payments provider, is piloting MobileMerchant, a payment solution that effectively transforms mobile devices into payment terminals, allowing small businesses to accept payments quickly and securely anywhere, anytime. The solution is currently running as part of a pilot programme in the UK, with full production availability scheduled for March.
Elavon MobileMerchant combines the ease of using a mobile phone for payments, with an affordable, easy-to-understand rate programme, making it the ideal solution for small businesses on the go. The app is downloaded onto the merchant’s existing smartphone, and a Bluetooth-connected Chip and PIN device securely captures and encrypts card data, ensuring that no information is stored in the smartphone. Receipts are sent to the customer via email or text message. The solution meets all the current UK banking requirements, so as to protect both cardholders and merchants from fraud, abuse and chargebacks.
“Elavon has responded to the call for innovation by delivering a convenient and secure solution that makes payment processing accessible to a new class of customers,” said Simon Haslam, president of international markets at Elavon. “Our goal is to make payment acceptance easy for all businesses, regardless of type, size or acceptance environment.”