Allied Irish Banks and telco Eircom have teamed up to launch a mobile card reader allowing small businesses and sole traders to accept card payments.

The joint venture, dubbed ‘Pogo’, allows traders to accept card payments via smartphone anywhere within wireless coverage.

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AIB Merchant Services general manager David Courtney said: "People who used to just accept cash and cheques can now accept credit and debit card payments. Dyno-Rod is our first customer. They can accept card payments when they go to people’s homes for a job.

"There is a convergence between payment providers and telecoms companies as smartphones are being used for purchases more and more," he added.

To use the mPOS device, the merchant enters a product or service to be paid for, selects an item from the catalogue or scans a barcode on their smartphone.

The customer can then insert their card into the reader and enter their PIN, as with a normal reader and has the option of receiving a receipt by email. The device comes with an accompanying app, which is free from the App store or Google Play, whereas the reader itself costs €100 ($136) up front.

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A monthly merchant services fee of €10 applies, as do processing fees of 2.75% per Visa or MasterCard credit card payment and 50 cents per Visa or Maestro debit card payment. The reader can be used to pay for anything up to €1,000.

Competitor mPOS provider iZettle charges £59 per device and transaction fees start at 2.75% and drop to 1.5% with high sales volumes.

Square, which does not operate in the UK or Republic of Ireland, charges 2.75% per card transaction but provides readers for free and there are no other costs.

 

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