Credit Card Gist

A new service, called blinging, allows you to pay without cash, debit or credit cards. Blinging works by placing a small microchip sticker called a Bling Tag on the back of the cell phone. You pay your bill by tapping your phone against the hand held Blinger in the restaurant. The machine sends a signal to your bank and money is transferred from your checking account to the business.

(Via NewsChannel5.com)

Learn how to lower your card acceptance cost

Learn how to accept credit and debit cards at the lowest processing costs. The Payment Card Acceptance kit contains a video and an e-book:

• Video – Card Acceptance Best Practices for Lowest Processing Costs (18 min).
• E-Book – Payment Card Acceptance Guide (19 pages).

As the mobile payment industry is starting to get traction, an ever increasing number of apps is being developed for iPhones and other smartphones to allow consumers to use them as credit cards. As with any other new industry, there are many unknowns at the beginning. BBB’s Erin Dufner talks about how to use them safely.

(Via YouTube.com)

Learn how to lower your card acceptance cost

Learn how to accept credit and debit cards at the lowest processing costs. The Payment Card Acceptance kit contains a video and an e-book:

• Video – Card Acceptance Best Practices for Lowest Processing Costs (18 min).
• E-Book – Payment Card Acceptance Guide (19 pages).

Apple’s mobile retail store initiative is set to launch on Tuesday an iPhone app that would allow quick access to store information, technical specs, the Concierge reservation system, and the ability to make reservations for purchasing the new iPhone 4 in-store.

The application is to be installed on the iPod touch-based point-of-sale (POS) system, which Apple debuted in November 2009. Future application features may include the ability to scan product barcodes, automatic Genius Bar appointment check-ins by sensing the presence of a visitor’s iPhone and sending product announcements to the iPhones of consumers passing by the store.

Several Apple patents and trends in mobile finance point to the company’s ambition to eventually enable iPhones to be used for purchases within the stores, replacing debit and credit card payments or cash.

The current EasyPay Touch system handles credit, debit and cash transactions, as well as certain product returns. When making purchases with a credit card, customers write their signature on the iPod touch using a stylus.

(Via Ifoapplestore.com)

MasterCard launched last week a new application for both the iPad and iPhone. Called MoneySend, the app facilitates person-to person money transfers. MasterCard MoneySend is available for free download at the iPhone App Store.

“MasterCard MoneySend allows users to ‘Send,’ ‘Pay’ or ‘Request Funds’ for a wide range of reasons including the everyday ‘IOU,’ informal services purchased from friends and family, payments to a personal trainer, roommate, babysitter, gardener, housekeeper or repairman,” explained Joshua Peirez, Chief Innovation Officer, MasterCard Worldwide. “With MoneySend, users avoid the hassle of making payments with cash, check or money orders and collecting funds is as simple as a text message with the ‘Request Funds’ feature of the app.”

With MasterCard MoneySend users in the U.S. can send or request money via their iPhone through participating banks and credit unions. Alternatively, consumers can create a prepaid account through Bancorp Bank, and the bank then charges fees for money transfers and other services. MasterCard said it also is trying to enlist other financial institutions to join the MoneySend program.

(Via MarketWatch.com)

Several credit card companies have developed free iPhone apps for their cardholders and a handful of them have set new standards for customer service, according to CardRatings.com.

• Bank of America developed one of the first iPhone banking apps, which still remains one of the best because of its simplicity.
• American Express’ app lets cardholders track reward points and manage business expenses across multiple AmEx accounts on the same screen.
• Discover Card’s app enables cardholders to track cash back reward amounts and sign up for special promotions instantly.

Some apps go a step further, letting users manage accounts from multiple financial institutions:

• Personal Assistant collects balance and transaction information directly from credit card issuers’ websites.
• Mint’s app offers snapshots of daily and monthly spending, along with the website’s popular online budgeting and expense tracking.
• AT&T Mobile Banking’s app reports credit card transaction details for banks that lack dedicated iPhone apps.

(Via CardRatings.com)