ss_blog_claim=bd50edc517cf0b7549fe6b5f63b6b5f8 The SLS Business Finance Blog: Way Out With WAY SYSTEMS: Visa/MasterCard Made Mobile

Friday, July 27, 2007

Way Out With WAY SYSTEMS: Visa/MasterCard Made Mobile

Technology affects every field including the merchant processing industry. Everything is getting smaller and more powerful just like computers, blackberries and that other good stuff.

Imagine looking down at your cell phone and being able to swipe a credit card through it!

What would that be technology worth? The Way Systems-Mobile Transaction Terminal or MTT as it is referred to in the industry, provides such an innovation. Just 4 inches tall and a little more than 2 ½ inches wide, the WAY Systems MTT combines low-cost mobile phone technologies with the capabilities of a Point of Sale terminal. It incorporates a built-in magnetic along with a mini stand alone printer (if needed).

A big additional benefit of the WAY System is that pricing for credit card transactions for the merchant is based on one big factor, whether the card is present or not present. Card present transactions pay less because there's a lesser risk of fraud than when the card is not present like when the order is phoned in, taken over the web or otherwise not personally signed for. So a business can be out in the field but still pay the lowest industry rates possible through card present transactions since the merchant can swipe the card on site with this system. This technology answers the question, "How will I take a credit card out in the field?"
Markets that commonly use the Way System include: art studios, business coaches, field sales, towing/wrecker companies and electricians(to name a few). Any mobile business that has been forced to deal with the issue of NSF's (that's the good old bounced check) and returned checks will benefit greatly from this technology.

Todd Rome
Director BankCard Services
Southern Lending Solutions

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