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Accept: Take cards without complications

Digital change doesn’t just mean replacing classic card payments with an app. Rather, mobile technology is being cleverly used to expand established payment methods.

With accept, Wirecard has developed a mobile solution for smartphones, which is also an attractive white label solution for resellers. It is ideal for merchants, service providers and self-employed professionals who are often on the go and have a manageable number of transactions. With no contract term or minimum sales requirement, accept is a cost-effective alternative to traditional card readers without the need for customers or merchants to lower their payment handling and security standards. Aside from a card reader, sellers only require a smartphone, the accept app and an internet connection.

In order to accept payments, sellers attach the mobile card reader to their smartphone, enter the amount, swipe the customer’s card and allow the customer to confirm the transaction with a signature on the touchscreen (Swipe & Sign). Customers later receive the receipt via email. Merchants can evaluate transactions, print receipts, conduct cancelled sales and reimbursements or configure Couponing & Loyalty campaigns at any time using an intuitive web interface.

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Mobile card readers gain acceptance
Mobile card readers are experiencing rapid growth: 451 Research predicts that the number of readers will triple worldwide between 2015 and 2019 to more than 54 million devices. Half of US companies employing between 500 and 10,000 employees can envisage integrating mobile POS terminals into their existing infrastructure. Still, experts expect the highest rate of expansion to occur in the APAC region (Asia Pacific), where they anticipate a seven-fold increase within the same time frame. After all, it is those regions where infrastructure is lacking and where residents have limited access to cash machines that flexible mobile point-of-sale solutions are becoming increasingly common.

Security for merchants
Nevertheless, what about the matter of security when compared to paying with cash? The European Central Bank announced at the beginning of this year that around 899,000 counterfeit euro banknotes were removed from circulation in 2015. Of these, 83 per cent were counterfeit 20 and 50 euro notes, as these denominations are most frequently used to pay for goods in physical stores. The resulting economic damage is considerable. In contrast, the risks of mobile payment can be minimised through the appropriate steps.