Just in, the popular Cloud account service provider “FreshBoosk officially announced its mobile card reader with a price tag of $29.
This was first announced last December, the mobile card reader was among the first ever hardware to be offered by FreshBooks company.
The hardware is similar to Dongle that pioneered the mobile payment, now the FreshBooks card reader plugs will be plugged into your phone thru the smartphone audio jack in order to enable the payments acceptance.
FreshBooks charging merchants at $29 for card reader, 2.7 percent + $0.30 for Visa and the MasterCard transaction, and lastly 3.4 percent + $0.30 will be paid for the Express transactions in America, FreshBooks reader accepts magnetic stripe cards and new security-focused EMV chip cards.
So for FreshBooks, its venture into the mobile payments competition is not that really much at risk. Until now FreshBooks focused on a small business tools invoicing, time-tracking of the activities and the total expense of the management.
Going forward, low cost payment hardware offered as add-on to merchants whose account was tied into the company’s software ecosystem and even lure future clients due to payments /invoicing combo.