SCHAUMBURG, Ill., March 15, 2011 /PRNewswire/ — Network Merchants Inc. (NMI) today announced the launch of a mobile processing module. A simple, fast, and secure application for the iPhone/iPad/iTouch to process credit cards anywhere in the world over a cellular or WIFI connection.
“Mobile payments is an emerging technology growing exponentially while more and more merchants enjoy the versatility of processing with a secure solution for their business,” said Matthew Schmidgall, NMI’s Chief Technology Officer.
The mobile processing module will process keyed or swiped transactions using cutting edge hardware encrypted card readers, geo-tag locations on the receipt where the transaction occurs, e-mail receipts, capture digital signatures, and perform partial or full refunds within the transaction history log. The application is free to download and incurs no additional per transaction fees.
More Mobile Payments Services, No Mobile Fees
Mobile payments processing is becoming de rigeur for payment processors and gateway operators. Network Merchants Inc (NMI) now has software (for keyed transactions) and encrypting hardware (for swiped transactions) to enable the mobile channel for its merchants. Intriguing features are the inclusion of the “geo-tag” location on the receipt and the lack of mobile transaction fees. Square recently dropped their per transaction fees as well. That approach may put pressure on Intuit and Verifone’s PayWare offerings to reduce or eliminate their own per transaction fees.