On 13th February 2014, mobile payments company New Media Insight Group, Inc. announced the launch of its mCard Cloud Payments solution in the U.S. mCard Cloud Payments enable merchants to accept payments from a consumer's mobile, mCard wallet on any wireless or Internet connected device. New Media Insights Group focuses on changing the way large scale Mobile, Email and Social Media organizations generate revenue.
- mCard Cloud Payments feature allow merchants to accept payments from a users’ smartphone.
- Consumers click "send payment" and the merchant clicks "accept" on their iPhone, iPod Touch, Android, Tablet, iPad, Mac, Laptop or PC.
- mCard Cloud Payments enable retailers to accept payments from anywhere in their store.
- A restaurant server could accept the payment at the diner's table or a clothes vendor or salon could accept a payment in any department in their store according to the company.
Some Features of their platform:
- Gives detailed customer profiles such as Average Spend, Frequency of Visits, Durations Since last visit, Marketing ROI, Direct Consumer Feedback, Social Media mentions.
- Customized marketing plans are provided as based on in-depth analysis of your customer spend and actions. You can track exactly how much every customer spends related to every marketing dollar spent.
- mCard Cloud Payments are not credit card transactions. They are simple payments between 2 mobile wallet accounts says the company. The transaction fee for mCard Cloud Payments is a mere 0.05%.
- New Media mCards do not require any new hardware, software or training of staff. Their mCards can be transacted through existing MasterCard Terminals.
"mCard Cloud Payments reduce merchant transaction fees to 0.5%, compared to typical credit card processing fees, in which the average the transaction price is approximately 2.75%," said CEO of New Media Insight Group, Michael Palethorpe. "The savings, security and convenience aspects of mCards and Cloud Payments will provide extraordinary benefits to both customers and merchants over more traditional payment solutions."