March 17, 2012

Popular Mobile Payment Platforms: Features & Pricing Comparison


Below is a feature comparison of different mobile payment platforms. Most of these mobile payment platforms are extremely new to the market and would surely evolve in terms of  feature offerings. We will keep the following feature list updated so keep visiting
Features of Square platform
  • Cost: 2.75% on every transaction.
  • Compatibility: iOS, Android.
  • Hardware / Design features: Square-shaped attachment to your smartphone
  • Current User Base: 1 million+ customers, $4 billion annual transaction fees
  • Encryption: Data encryption and PCI compliant.
Mobile Payment platform PayPal Here 
  • Cost: 2.7% fee on every transaction (1.7% for signed-up merchants with PayPal debit card because of instant 1% merchant back)
  • Compatibility: iOS
  • Hardware / Design features: Triangle shaped about the same size as Square's square.
  • Current User Base: New (Not many customers yet)
  • Encryption: Fully encrypted and PCI compliant.
Verifone Payware Features
  • Cost: $49 yearly activation fee + "additional merchant fees"
  • Compatibility: iOS
  • Hardware / Design features: Like a small docking station where you drop your phone in rather than attach it to the top.
  • Current User Base: PAYware Connect payment solution is being used in $10 billion of annual transactions
  • Encryption: Fully encrypted and PCI compliant.
Features of Intuit GoPayment
  • Cost: 2.7% of every transaction (1.7% for opting high-volume plan with $12.95 monthly fee)
  • Compatibility: iOS, Android
  • Hardware / Design features:  GoPayment is a rounded dongal that attaches to the top of your phone.
  • Current User Base: A company rep declined to say.
  • Encryption: Fully encrypted, PCI compliant.

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