HSBC Merchant Services transforms smartphones into card payment terminals

HSBC Merchant Services has launched a new product to allow sole traders, freelancers and mobile merchants to take card payments anywhere.

The firm, which is one of the largest independent payment processors in the UK, has teamed up with eMerit Solutions Limited to produce the device, which allows entrepreneurs to complete card transactions using the internet connection on their smartphone.

The chip and pin device is expected to particularly appeal to merchants and retailers with a flexible working location, such as mobile hairdressers, taxi drivers, market stall traders and small businesses, such as cafes.

SagePay Mobile launched a similar product earlier this year and the latest offering from HSBC – which is fully secure and compliant with all major card schemes – will become universally available by the end of 2012.

Chris Davies, managing director of HSBC Merchant Services said: “The current economic climate has resulted in increased pressure on sole traders to retain loyal customers.

“By accepting credit, debit and gift card payments through smartphones and mobile devices, the eMerit device gives merchants the ability to process payments that will ultimately drive forward repeat business – quickly and easily.”