May 11, 2010 by Michael Moran Alterio

The iPhone Sled allows vendors to make wireless credit card transactions easily. The flea market business has always operated on a cash basis, but an innovative hardware and software solution may now change all that. One of the newest trends in retailing is the development of custom applications, or apps, for use with the iPhone, and one of the newest apps is the PayWare Mobile program using the iPhone Sled to read and transmit credit card transactions, currently being offered by Data Payment Systems. FleaMarketZone recently conducted an e-mail interview with co-owner and vp-marketing John Sabatino to get some basic info on the hot product.

FleaMarketZone: Could you tell me about your company?

Data Payment Services is headquartered in the northwest suburbs of Chicago. Our executive staff has over 15 years combined experience in the bank card industry with a background in risk management and sales management. Our experience has enabled us to form partnerships and alliances with several well respected financial institutions in the world. We specialize in providing merchant services at rates you can afford.

FMZ: When was the company founded?

Our company was founded about 18 months ago from relationships in the bank processing industry.

FMZ: How long have you been carrying the iPhone Sled? What’s the story behind that?

We were one of the first wireless providers to carry and market the iPhone Sled. It has been released to the public within the past 30 days, but we have had the Sled for more than six months now. Due to our lasting relationships in the merchant services industry and our unbeatable customer service backed by the industry leader (First Data), we were chosen to launch the iPhone Sled alongside Verifone, who supports the PayWare Mobile Application.

FMZ: Do you do a lot of business to flea market vendors?

We have chosen flea markets as one of our areas to introduce the iPhone Sled due to their constant “On the Go” style of business.We also offer supporting wireless units if consumers don’t have the iPhone. It’s not our primary field, but it’s definitely a market we are looking in to help save money.

FMZ: Who are your customers?

Our customers range from small individual merchants that do $500 a month in processing to nationwide franchises doing hundreds of thousands of transactions a month.

FMZ: How important is the Internet to your sales?

We do a good percentage of business from our Internet marketing, but what company doesn’t?

FMZ: Do you have any really new products that have been released just this year?

The iPhone Sled is our newest and trendiest product we released this year. With the Sled you can take payment anywhere anytime at a low flat rate of 1.59 percent. You can view this at iphonesled.com.

FMZ: What else is newsworthy about your product?

Data Payment Services has partnered with the Make a Wish Foundation, an organization that grants the wishes of children with life-threatening medical conditions. Every time your customer pays with their credit card, Data Payment Services makes a donation from their proceeds to the Make a Wish Foundation.

FMZ: What is your pricing? Do you offer any volume discounts or incentive packages for new customers?

Our most popular pricing for merchants is a flat rate of 1.59 percent with transactions rates from .03 to .15. with monthly fees at $10. We do have a major merchant program with large discounts if they do over 20,000 transactions a month. For our new customers we offer a free equipment package.

FMZ: How can people find out more?

We have a couple blogs on our Web site that you can review. You can reach our office at 877-877-6072 or view us on the Web at iphonesled.com or datapaymentservices.com.

Data Payment Services announced that iPhonesled.com is selected as the preferred provider of new merchant accounts for buyers of VeriFone’s PAYware Mobile iPhone (News – Alert) card payment solution sold through CPR Retail and the CPR Store online beginning April 6, 2010.

iPhoneSled.com, a subsidiary of Data Payment Services, is a global company in payment processing and merchant acquiring. iPhoneSled.com is an ideal partner in providing merchant processing services to small businesses who purchase the PAYware Mobile card encryption sleeve for iPhone.

Douglas G. Bergeron, CEO of VeriFone,

“Taking payment on the spot will be instrumental in achieving the goal to make it as easy as possible for merchants to acquire PAYware Mobile for iPhone. Douglas also said that the small businesses will no longer lose sales because of unfitness to accept payment by credit card or check.”

VeriFone’s sleek and long-lasting card reader slips over iPhone to accompany card swipes and allow merchants to avoid high-cost card-not-present fees. It integrates a stylus for signature capture and a
mini-USB port for charging iPhone. The PAYware Mobile card encryption sleeve incorporates VeriFone’s end-to-end encryption technology and assures secure payment processing.

Users gain access to the PAYware Connect gateway, a complete customizable and reliable gateway service which is ideal for small businesses. Details of all iPhone payment transactions are available in real-time within the Merchant Portal on the payment gateway. It enables businesses to strengthen payment reporting from multiple PAYware Mobile-equipped iPhones.

VeriFone Holdings, Inc. is the global company in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the retail, hospitality, financial, government, petroleum and healthcare vertical markets. VeriFone has a cost-effective and end-to-end payment solution for businesses. VeriFone solutions are planned to meet the merchants’ needs, processors and acquirers in developed and emerging economies. VeriFone’s devices and systems process a broad spectrum of payment types including signature and PIN-based debit cards, credit cards, EMV smart cards, contactless, value-added applications, and signature capture. The company’s solutions incorporate existing and emerging technologies, comply with the latest global security standards, and take advantage of the latest connectivity options from GPRS, CDMA, and Wi-Fi to IP and Bluetooth-enabled devices.

Accept Credit Cards On Your Iphone And Get Help 24/7 On Tech!

You can’t do it alone. Business is a team sport, even for the solo practitioner. You need suppliers, mentors, consultants and customers (!) helping you. With the right technologies you can get more done in less
time and you don’t need to employ as many people.

Here are a couple of tools I’ve discovered recently which can help you in two profound areas of your business. This is all about getting you a competitive advantage and letting you be more profitable in your business without incurring a lot of expensive overhead.

Verifone PAYware Mobile For Your iPhone

If you’re mobile in your work with customers, you’ve probably had times when you wish you could accept credit card payment right on the spot. You find out immediately if the card is valid, you process it quickly and you can focus more on the customer. Today, with a new system from Verifone, you can do that on your 3G and 3Gs iPhone.

It consists of a device and some software you’ll download from the iTunes App store (software is free). Once you have the App software, you slide your iPhone into the “sled.” You swipe credit cards through this device
(very small) and it gives you the ability to process credit cards anywhere you can take your iPhone.

My first concern was for security. This system uses an encrypted end-to-end system as it processes the card. Because it uses a swipe method it is more stable from the start than entering a CC number. The system
uses the SSC (Security Standards Council) procedures for the latest security. It is one of the most secure methods of CC transmission available today.

For convenience, this is ideal. A small business owner can take it on sales calls and process everything needed for the transaction on the spot. You eliminate the delay and time-wasters that come from taking paper and other materials back to the office for processing.

Be aware, though, that you need to have a steady stream of business to justify it. You’ll pay a one-time boarding fee of $99. Then there is the monthly gateway service fee of $25. Plus you’ll have a per transaction fee of 30 cents. In addition to this you’ll be responsible for normal interchange/discount fees levied by processors and card brands. Bottom line: This is a great tool if you 1) Have a 3G or 3Gs iPhone and 2) (most
important!) You have sufficient business flowing on a monthly basis to justify the on-going monthly and per transaction costs. For those who qualify, this is a god-send.