This is the Beacon Payments blog. Learn about the credit card processing and the merchant services industry. Hear about the successes of our outside sales people whose job it is to sell merchant services and sell credit card processing programs.
As of yesterday business owners in most states will be allowed to pass the cost of credit card processing on to Visa and Mastercard users through surcharges of up to 4%. This raises a big question: will merchants actually charge this fee? Customers may be put off when they realize that they are paying more to use their card and may prefer to shop somewhere else. It will be interesting to see how this plays out over the coming months and if the fact that this is now allowed will actually change they way the merchant services industry and retailers run credit card transactions.
This is a longshot - but it looks like Apple may be creating an Iphone that has fingerprint security! If they do release this technology it may help instill confidence in the ability to use your smartphone to make moble payments. With even less opportunity for a fraudulent transaction smartphone payments adoption may happen faster than we think. Will paying with your fingerprint itself be the next way to pay?
In the article below Henry Helgeson discusses what to look for from Mobile Payments in 2013. It looks like your mag stripe on your cerdit card is going away and paying with your smartphone is going to really take off this year!