Globe Telecom, a carrier based in the Philippines, has offered a new hardware and software solution for small and medium businesses to accept credit card payments on smartphones and tablets called Globe Charge.
"Filipino retail merchants and SMBs are now embracing the ease and convenience provided by Globe Charge, as they now have higher chances to receive payments instantly, resulting in a bigger customer base and more robust business revenues. Globe Charge significantly heightens the potential of turning each customer interface into a successful selling transaction," senior vice president for Globe myBusiness Martha Sazon said.
Globe Charge is similar to other mobile payment systems like Square. A card reader attaches to the edge of a device and a mobile app processes the credit cards. Support for debit cards is also in the works. The app is currently available for Android (News - Alert) on the Google Play store, but an iOS version is coming soon. It connects to a Google Wallet account.
"Globe Charge will be a game-changing service for the growing number of retail outlets, stores and SMBs, enabling them to grow their businesses. It will allow fledgling entrepreneurs to get started right away and accept local and international MasterCard (News - Alert) and soon, Visa credit and debit cards. Business owners can enjoy better rates and can receive the settlement as early as the next business day," Sazon said.
There are approximately 10 million cardholders across the Philippines. The small retail sector accounts for approximately 15 percent of the country’s total GDP and 33 percent of its services sector, according to the Philippine Retailers Association. Globe Charge will enable small retailers to serve even more customers who aren’t carrying cash.
Payment systems like these are attractive to small businesses because they eliminate a lot of the overhead in setting up traditional POS systems. They can also go in places where it’s difficult to install POS systems, such as farmer markets.
It’s also cheaper for them to process cards this way, small retailers find the fees charged by traditional card companies so steed they either only accept credit cards for totals over a certain amount or only take cash.
Globe Cash will be available with with a MyBusiness SUPERPLAN costing Php499 for 30 months, or $11 a month. The cost includes the card reader and a smartphone for processing payments.
Edited by Maurice Nagle
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