TransFS.com Launches Free iPhone App for Credit Card Processing
Transparent Financial Services (TransFS) has announced the launch of its TransFS Card Terminal, "an iPhone app that provides businesses with credit card acceptance capabilities in virtually any location. TransFS Card Terminal™ is the first iPhone app of its kind to be free of cost and provide complete freedom of choice in credit card processor selection." TransFS has also made the source code of the application available as open source software.
Previously, the cost to download an iPhone app for card processing was as high as $50 per device. Further, most apps require the user to contract with a specific processor, introducing the complication of multiple invoices and the risk of unexpected price increases. TransFS Card Terminal offers businesses the ability to introduce or test mobile card acceptance without the fear of wasted cost or unwanted commitments.
TransFS Card Terminal provides card acceptance capabilities without the cost of purchasing or leasing terminals. For new merchants and those just beginning to accept credit cards, this offers potential savings of hundreds of dollars per point of sale.
"Using an iPhone to accept payments adds mobility and freedom for professionals in the field or in an office," said Sean Harper, CEO of TransFS. "We believe this freedom should also extend to the price of the app and the choice of credit card processor, and our Card Terminal delivers on that belief."
TransFS is an online marketplace that helps businesses keep more of their money, through a private and secure reverse auction in which credit card processors bid to win each merchant's business. Credit card processors in the TransFS network undergo a stringent certification process, and are contractually and financially bound to rules regarding price transparency and customer service.
Businesses that download the TransFS Card Terminal have multiple processor selection options:
- Quickly configure the app to use an existing processor of choice, regardless of whether that processor is part of the TransFS network
- Instantly set up a new merchant account with a competitive, pre- negotiated rate plan offered by a TransFS Certified processor
- Secure the lowest rates by having the full network of TransFS Certified processors competitively bid against each other, quickly and confidentially
The TransFS Card Terminal app and additional information are available at http://www.transfs.com/iphone.
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