Barclaycard may be a little late to the party, but it’s ready to go head-on with established rivals
The mobile payments industry is one fraught with competition. There are countless copycats out there, all offering practically the same service as one another. The same goes for the world of MPOS solutions too, with only a few leaders in a sea of immeasurable others. So, it seems a little strange that Barclaycard would want to wade into this market.
Still, Barclaycard has unveiled a new app and card-reader combination that’s aimed at smaller merchants and large firms with the need for mobile sales. Named Barclaycard Anywhere, it lets users accept on-the-spot card payments and makes use of a PayLiquid chip and PIN reader that attaches to a smartphone. Customers will then receive a receipt via email or text, ensuring that this model is entirely paperless – which is always handy.
Barclaycard Anywhere also allows for merchants to keep track of transactions no matter where they are, allowing them to spot trends, sales performance, and a variety of other business intelligence-related functions.
“Our simple, low-cost, secure solution will enable many more small businesses and large enterprise sales forces to accept secure card payments on the move, helping them increase sales,” said Barclaycard global payment acceptance MD, Paulette Rowe, in a press release. “Having easy access to invaluable management information through the mobile payment app will enable time-poor business owners and staff to quickly learn about their customers’ spending behaviour.”
It’s an interesting market to go in for, especially as Lloyds bank has launched it’s own offering, as well as more established European alternatives with iZettle, PayPal and Payleven out on the street already. It’s also worth noting that MPOS devices haven’t really taken off in the UK like they have in other nations. But, a brand like Barclaycard is definitely more well-established in the payments world, so it’s likely that it could fare far better than some of its lesser-known competitors when it comes to consumer trust in a product.