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New mobile payment system includes merchant services features

September 12, 2012

One of the latest trends to gain popularity with consumers in some parts of the country is mobile payment systems.

One of the latest trends to gain popularity with consumers in some parts of the country is mobile payment systems. The ability for people to use smartphones as digital wallets has made the process move quickly in many cases.

In an effort to take advantage of this, Fiserv, a financial services company, recently introduced a mobile credit card terminal that it says will meet the needs of the evolving consumer. The SpotPay system not only conducts transactions for customers, it includes many merchant services as well. Retailers using the product will be able to use a remote deposit system for checks.

“The ability to pay anyone, anytime, anywhere is revolutionizing commerce as we know it,” said David Keenan, general manager of network solutions at Fiserv. “Financial institutions are an integral part of this revolution, as they are in a unique and trusted position to ensure the safety and security of these transactions.”

Merchants accepting mobile and other types of credit card payment need to be aware of security concerns. One of the best ways to do this is to achieve PCI compliance, following the standards agreed upon by industry experts.

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