SmartSwipe is a new personal credit card reader invented by a young entrepreneur from the city of Regina in the Province of Saskatchewan, Canada.
The device seeks to revolutionize the current online payment process used by millions of online shoppers when conducting online credit card transactions, and in doing so replace PayPal as the #1 trusted method of making online credit card purchases.
The device is of high interest to owners of online stores (online merchants) due to its promising potential of eliminating the need for Payment Gateways that charge a transaction fee to process credit card payments for each purchase made on the merchant’s web store.
At this point, it all depends on the adoption rate of the new device.
What Makes This Trend Stand Out
- Personal Credit Card Readers
- Personal credit card readers will become more popular in online transactions as people become more concerned about security.
- Eliminating Payment Gateways
- The increasing popularity of personal credit card readers poses a potential threat to Payment Gateways, as they may become obsolete.
- Advancements in Online Payment Processes
- Personal credit card readers represent the next step in the evolution of online payment technology.
Sectors Adopting This
- E-commerce
- Personal credit card readers have the potential to disrupt the e-commerce industry, as they could lead to the elimination of transaction fees for merchants.
- Online Payment Processing
- The emergence of personal credit card readers could disrupt the online payment processing industry by providing a more secure, efficient alternative to traditional payment gateways.
- Technology
- The development of personal credit card readers is an example of the continued advancement of technology in the financial sector.
