Saturday, March 17, 2012
paypal on cellphones
This is a card swiping accessory that attaches to an iphone which enables a seller to accept credit card payment. This one is for paypal but there are other similat companies that provide the same thing. This has been my dream for a long time, for ANY business in the philippines to be able to accept credit cards, including theoretically a fishball street vendor, all you need is a net connection.
But my dream has a part 2. Part 1 actually has been possible for some time, just use a card swiper with a battery and the guts of a cellphone inside.
But this violates part 2 of my dream, affordability. Because afaik such card swipers have expensive monthly fees. So its no good for a seller unless credit cards are used frequently.
Part of making it cheaper is for the chinese to copy it (even though the paypal one above will be heavily subsidized) since it increases competition and user base and gives us many feature choices.