Square has a new competitor in the mobile payment field. ERPLY’s new on the field but they are not playing like an expansion team. First the equipment seems to have been planed out from the start to work well with the iPad. Rather than a universal adapter like the Square reader; ERPLY’s new credit card reader attached to an iPad’s charging port and does both NFC and regular card payments.
The ERPLY card reader encrypts a user’s credit card information before sending it to ERPLY’s system. The point-of-sale and inventory management software is free on iTunes. There is one part of this system that will hold some back from jumping ship to ERPLY; the card reader is $50. They do however have a very low transaction fee of 1.9%
The inventory system gives you the ability to monitor transactions and stock flows in real time. Both will automatically send a receipt to consumers via text or e-mail. There is no iPhone version of the reader or app but one is promised soon.
ERPLY Introduces Portable Credit Card Reader for Retailers to Securely Process Payments on Mobile Handheld Devices
Comprehensive POS Solution Now Includes a Low-‐Fee, Convenient Card Processing Technology for On-‐the-‐Go Sales & Inventory Management
New York, NY – August 23, 2011 – ERPLY, the leading provider of cloud-‐based mobile, laptop, and desktop POS and retail inventory management solutions, today announced the ERPLY mobile credit card reader for handheld mobile devices to deliver secure, fast and convenient payments for businesses large and small. The new credit card device connects to an iPad or iPhone and transmits a customer’s encrypted credit card data to the ERPLY point-‐of sale software and inventory management software suite to process payments. This gives retailers the ability to view real-‐time data and inventory analytics through the ERPLY inventory management system.
The ERPLY credit card reader is priced at $50 with a 1.9% transaction fee that is considerably less than fees charged by competing technologies offered by Square and Verifone.
Providing Options for Consumers & Retailers
In today’s retail environment, customers and retailers are faced with a confusing array of mobile payment options including Near Field Communications (NFC), digital wallets and carrier billing as well as traditional credit cards and cash. Customers prefer to pay via differing methods and savvy retailers need to be ready. The ERPLY reader is designed to meet the demands of customers and retailers today and in the future, since it is enabled for traditional credit card processing as well as the new NFC payment options just coming to market.
“With our mobile credit card reader, we are providing retailers with the full range of technology options they will need to accept and process payments and make real-‐time decisions that affect their business,” said Kris Hiiemaa, CEO, ERPLY. “As technology changes, we are giving consumers the ability to pay for items the way they want to, whether it is with cash, credit cards or with NFC technologies in phones. The ERPLY inventory management backend provides the foundation for our comprehensive POS solution, so retailers are ready for wherever the market may take us.”
Changing Landscape of POS Technologies
In its recent market study “Next Generation Point of Sale Systems and Retail Technology,” ABI Research forecasts that growth in this market will continue for the foreseeable future as retailers invest in the latest technology. ABI Research anticipates retail technology spending will grow to nearly $21 billion in 2014, from $14.8 billion in 2009.
With the ERPLY reader, a retailer simply attaches the device to an iPad or iPhone’s charging port and this communicates with the ERPLY POS software to process the transaction and record the sale in inventory. The credit card information is encrypted inside the device, ensuring that the transaction is safe and secure. A sales person can be assisting a customer with information about a camera, for example, use the ERPLY inventory software to check on inventory, go to the storeroom and collect a particular model, and use the same iPad with the credit card reader to process the customer’s credit card right there on the store sales floor. The customer is then sent an email or text message receipt.
The ERPLY mobile credit card reader is available now for the iPad and will be available within three months for the iPhone. The ERPLY reader works exclusively with the ERPLY POS and inventory management solution.
With prices starting at only $70 per month, over 20,000 retailers, ranging from Fortune 500 corporations to SMBs, currently use ERPLY’s cloud-‐based POS and inventory management software.