PRINCETON, NJ -- Heartland Payment Systems, the nation's fifth-largest payments processor, is jumping on the mobile payments bandwagon.
The new solution, called Mobuyle, enables merchants on the go to accept credit, debit and giftcard payments through their smartphones. It also provides a flexible way for brick-and-mortar retailers to expand the availability of point-of-sale terminals as needed, depending on store traffic.
Merchants download a phone application and purchase a portable card reader from Heartland that they plug into their phone's audio jack. When a card is swiped (or manually entered), all sensitive information is encrypted before it leaves the reader. After the transaction is complete, merchants can email receipts to their customers. They can also access comprehensive processing reports on their smartphones or mobile devices. Mobuyle rates are reportedly similar to those for traditional card processing.
The Mobuyle application currently is only available for Android smartphones, but Heartland has plans to begin releasing applications for other smartphones and mobile devices such as the iPhone and iPad later this year.
Heartland says it's blazing a trail by launching its own mobile payment system. Competing payment processors have formed alliances with the technology providers, such as First Data's partnership with Google. Verifone, a major supplier of point-of-sale card readers, has also partnered with a number of mobile payment alliances.