Category Archives: Mobile

Payments in your pocket with Payjack

Once upon a time there was a baker who went to sell his hot cross buns at market. In return he wanted to buy more flour and some cheese and intended to barter. But the cheesemaker didn’t want any buns that day.

So he was goosed.

Modern commerce has moved on a bit since then and the introduction of currency has been followed by ‘flexible plastic friends’. But for many small businesses the ability to accept card payments hasn’t become a reality. However the new wave of mobile payments solutions is creating opportunity and levelling the merchant field, especially in the SME sector.

Payjack is one such mobile payment solution launched recently in the Irish market by WorldNet, a provider of multi-channel payment solutions. It enables small businesses to accept card payments using a mobile device and is the first product of its type to be made available here in Ireland. One of the cool features is a fully online application with an approval turn-around time of 48 hours. This aspect alone is a huge plus in contrast to the traditional merchant account set-up process which can take weeks and doesn’t suit the needs of many small businesses and sole traders.

With Payjack, the business can take a card payment (debit and credit) in any location using a smartphone. The Payjack app turns the phone or tablet into a mobile virtual terminal and is available for iPhone, iPad and Android devices. The customer gets a receipt by email or text message. The advantages are clear for sectors such as market traders, tradesmen, in fact anyone who services clients or sells goods in different locations. Many of these businesses have been dependent on getting paid in cash, by cheque or at a later time by invoice. The overhead in taking payments in these ways is obvious, as is the strain on cashflow. The ability to take a mobile payment on the spot puts payment control back with the business.

Mobile phone over timePayjack presents mobile payments in Ireland with a solution that is part and parcel of the mobile revolution. The graph above from Mary Meeker’s presentation on the state of the web illustrates the speed of change. Technology companies like WorldNet and others in the payments space are grasping the opportunities presented by mobile. While we’ve experienced a massive rate of change over the last decade, it’s still only cantering compared to the gallops to come.

Does anyone remember the years long wait for a landline from Eircom’s predecessor, Bord Telecom??

Hal9000 is pleased to be working with Payjack on their digital marketing strategy.