Small and medium businesses may now be able to accept credit card payments using a cellphone-based card swiping device offered by Globe Telecom through its wholly-owned subsidiary G-Xchange, Inc. (GXI), the operator of GCash, and Globe myBusiness.
Dubbed as Globe Charge, the service harnesses the integration of a smartphone and a mobile card reader into a mobile-POS unit, eliminating the need for traditional and more expensive card terminals. Most SMBs today don’t accept credit card payments because of the Php30,000 upfront fee and the Php50,000 monthly transaction that has to be maintained with the traditional card terminals.
Martha Sanzon, senior vice president for Globe myBusiness, said that Globe Charge is more affordable because SMB owners can avail of the device for free at Plan 999, which comes with a Samsung Galaxy Win, surfing-texting-calling combos, plus consumables. Aside from a smartphone and a mobile card reader, Globe Charge also features the Globe Charge mobile app, downloadable free of charge from the Google Store and soon App Store, and a Globe Charge merchant account, created via the Globe Charge mobile app, free of charge with no recurring fees.
Sanzon adds that with Globe Charge, merchants will enjoy better rates (less than 3%) and deals compared to banks, and will receive the settlement as early as the next business day, thus enabling businesses to maintain their cash flow. With the traditional card terminals, payments are normally settled after 14 days, a primary reason why many cash-strapped SMBs don’t accept card payments.
“With just a mobile card reader plugged into a smartphone or tablet, Globe Charge will open up more opportunities for business growth and payment generation for any form of trade which accepts cashless transactions through credit and debit card payments, particularly Mastercard, and very soon, Visa,” said GXI President Paolo Baltao.
Asked about the security features of the device, Baltao claims that the device has fraud management features that prevent security breaches such as stealing of data stored on the card.
Technology from Swiff enables secure and patented 2-Factor Authentication, which permits mobile tracking, user authorization, and fraud prevention. Swiff’s suite of solutions is EMV Level 2 certified and accommodates Chip & Pin, Chip & Sign, and Swipe & Sign payment methods.
“Our strongest differentiator lies in our ability to seamlessly integrate into any acquirer, allowing that acquirer to rapidly provide an mPOS service to existing and new merchants, like Globe Charge,” said Paul Hubbard, Swiff Country Manager for the Philippines.
“On the commercial front, we are opening doors for telcos to achieve a richer level of engagement with their merchants, supporting the creation of the new revenues that mPOS brings,” added Belinda Aka, VP Business Development of Swiff.
Globe Charge can be purchased from select Globe Stores within Metro Manila. Accreditation as a Globe Charge merchant takes place within 7 business days, after a face-to-face validation with a Globe representative called the Know-Your-Merchant (KYM) Process.
“We have spotted a real need in the marketplace. This simple device changes the way any mobile salesperson or SMB accept payments,” said Peter Bithos, Globe’s Chief Operating Advisor.