Scanning and processing card payments without a card reader

The SmartTrade app is a software solution for taking credit and debit card payments from customers. It does not require any hardware, like card readers or card reader attachments to phones, and allows for secure and encrypted scanning of payment card details. All that is required to take a payment is to download the SmartTrade App on a smartphone from the App store or Google Play stores, for Iphones and Androids respectively. To receive payments into your bank account, all you need to do is to provide the necessary ID verification and business details during or after the sign up process. It is equivalent to taking a mobile e-commerce payment, by submitting the credit or debit card details in a form to the payment processor.

There is no pin verification in the payments so there does remain a risk of card fraud. This risk can be mitigated entirely by using the new Pay by Bank app payment with the SmartTrade App as the customer will require to authenticate themselves within their mobile banking app on their telephone to process the payment.

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