We could be dead wrong, but this looks to be the first credit card reader for the iPad. It comes from the folks at AppNinjas. The reader allows merchants to process credit cards using their iPad, provided of course they’re connected to the Net via WiFi or 3G. Their compatible Swipe app costs 99 Cents in the App Store and all new customers approved for a merchant account will receive a free credit card reader worth $79. Cost to use their service is 24 cents per transaction plus 1.74 percent of the sale in addition to a $24.95 monthly fee. The Swipe reader is also compatible with an iPod or iPhone.
If it we’re up to us, we would have chosen a case that wraps around the iPad and employs a vertical credit card reader. Let’s also not forget about Square, which works with the iPad in addition to the iPhone.
Dublin, Ohio, July 22, 2011 – For its Swipe mobile payment application, AppNinjas introduced a new credit card reader designed to fit the iPad, CEO John Waldron announced today. With this app, merchants can process and swipe credit cards securely and easily from any location. The Swipe iPad version allows users to process payments via Wi-Fi or their cell carrier’s network.
“We’re excited that our new iPad reader will allow so many small businesses to accept credit card payments,” said Waldron. “I’d estimate that some 10 million businesses and/or nonprofits can benefit by taking mobile payments.”
Swipe costs 99 cents on the App Store. New customers approved for a merchant account will get a free credit card reader for their iPad worth $79. Along with the iPad, Swipe is compatible with iPhone and iPod touch devices and has appropriate swipers for each. It will soon be available on Android phones.
For qualified transactions, Swipe’s fees are very competitive: A transaction charge of only 24 cents, plus 1.74 percent of the sale. Qualified transactions are swiped at the time of sale using a credit card such as Visa, MasterCard, Discover, or American Express. Swipe has no monthly minimums, set-up or activation fees. A monthly charge of $24.95 includes everything needed to accept credit cards.
“In addition to costing less than competing mobile payment systems, Swipe is also recognized for customer support,” said Waldron. “We assign an account rep to each new merchant to answer questions and take them from the sign up through acceptance of the first credit or debit card payment using Swipe.”
To ensure security, Swipe employs SSL encryption that transmits information back and forth securely and stores login details in the Apple Keychain, which provides encryption and application isolation that further improves security. In addition the app supports Address Verification (AVS) for ZIP code and street address to authenticate the identity of the credit card holder and CVV fraud detection to recognize invalid credit cards.
Swipe developer AppNinjas was founded in 2009 and was purchased in 2010 by John Waldron, Derek Del Conte, and Ryan D. Johnson, partners at Inner Fence and Merchant Focus. At AppNinjas, Del Conte is President and Johnson is CTO.