Bank of America Merchant Services, America’s top-rated electronic payments processor, announced the December release of Mobile Pay on Demand last week.
Mobile Pay on Demand, which was designed for small businesses, transforms a customer’s smartphone or iPad into a mobile point-of-sale station. The new program will include a free mobile app, secure card reader and will be free from monthly and annual fees.
“In today’s economic environment, small businesses are looking for secure, easy and portable ways to confidently accept payments beyond cash and promote their business to a broader customer base,” Tom Bell, the CEO of Bank of America’s Merchant Services, said. “With Mobile Pay on Demand, we are making it even easier for small business owners to accept secure payments anywhere. The product is fully integrated with existing Bank of America accounts and services, allowing deposits made into a Bank of America small business checking account to be processed as soon as the next business day.”
Merchants who sign up for the new offering will also be able to access BankAmeriDeals and iDeals Marketing Platform Pro, both of which are designed to link merchants and new customers through promotional offers, deals and coupons.
Other features of the Mobile Pay on Demand program include data encryption to ensure the security of transactions, self sign-up with no fees and various pricing for different card networks.