Mon, May 6, 2013: Bank of the Philippine Islands (BPI) has launched a system that allows business owners to use their smartphones or tablet to accept credit card payments, reports Inquirer Business.
The system works with iOS and selected Android devices. The users just need to download the mobile point-of-sale app into their devices and attach a specially designed dongle onto the device to accept credit card transactions provided with Internet access. After transaction made, the merchant can send the receipt to customers via e-mail.
According to BPI, the merchants will be charged a transaction fee of between 2 to 3.5 per cent per transaction depending on the type of business. Currently, they are running the system in pilot phase which only involving 500 devices.