Small and Medium-Sized Enterprises (SMEs) and charities will reap the benefits of a low-cost credit card gateway just launched in New Zealand.
Called, ‘Swipe HQ,’ the facility is reportedly a virtual credit card that allows businesses to accept credit card transactions without a terminal.
Auckland based Optimizer HQ’ (a Cloud technology company) has introduced the service, claiming that transaction fees could be ‘as low as 0.65%,’ and at costs that are lower than its competitors.’
The company’s Chief Executive Manas Kumar said that the new gateway will reduce costs for SMEs keen on entering the online shopping arena.
“Low volume online traders have struggled to make an e-commerce venture profitable as banks and offshore payment gateways charge a fixed monthly fee, in addition to initial set up cost and other fees, which can be 4.5%,” he said.
Mr Kumar hopes that Swipe HQ would reduce barriers to creating e-commerce sites with a flat 2.75% per transaction and 0.65% for registered charities.
“As a person who started as a small business owner, I am aware of the pressure that fixed monthly overheads place on cash flow. I wanted to help break down some of the cost barriers associated with getting Kiwi businesses online. That means we are able to offer no monthly or set up costs and no contracts,” he said.
He said that adding credit cards as a payment option for invoices has several advantages, improving the average age of debtors and cash flow.
He believes it will also help to encourage businesses to export their products and services and allow owners to view their sales from any location using a smartphone.
Financial incentives
Mr Kumar is offering financial incentives to web designers and other potential partners for referring customers.
As mentioned in these columns earlier (Indian Newslink, February 1, 2012), Optimizer HQ was established in 2003 as a web development company.
It has grown to provide a wide range of products and services, including ground-breaking technologies to businesses.
According to reports, at 32, Mr Kumar is the second youngest chief executive in the world to be listed on the Deutsche Boerse, behind Puma’s Jochen Zeitz.
Kumar, 32, is the second youngest chief executive in the world to be listed on the Deutsche Boerse, behind Puma’s Jochen Zeitz.
Swipe HQ Checkout is stated to be the first credit card processing innovation to be released by Optimizer HQ.
The company’s first product, Swipe HQ Reader, is awaiting international announcement of new industry standards for processing mobile card payments from credit card companies.
photo:Manas Kumar
