Infintech, Cincinnati Bell partner on smart payment technology

Infintech, a Cincinnati-based electronic payment processor, has teamed with Cincinnati Bell to use BlackBerry technology so credit cards can be used anywhere there's a wireless signal. It's an innovation expected to be welcomed by the mobile workforce, such as delivery drivers, who can process payments more cheaply while on the road.
 
Electronically swiping credit cards at the point of service can reduce processing costs by 45 percent or more compared to manual processing, Infintech says. It can also increase cash flow and reduce paperwork, allowing businesses to be paid when they render services. The product, called MobileCharge, can also be used for inventory control, hooking up directly with a company’s accounts receivable software. The BlackBerry can still be used to make calls and check e-mail. "The BlackBerry isn’t just for e-mail anymore,” says Dennis Hinkel, a Cincinnati Bell VP. Ryan Rybolt, an Infintech exec, says small businesses with a mobile workforce can sometimes wait weeks for payment using traditional invoicing, but the MobileCharge product allows them to receive a secure payment on the spot. Sounds like smart business.

Writer: David Holthaus
Source: Teresa Hoelle, Infintech