SwiftPay requires no new hardware for the merchant to install, as it integrates directly into the retailer’s existing system. It doesn’t require an NFC-enabled phone or any new hardware to accept NFC payments, because it is all software-based.
The system works with both Apple and Android mobile devices and accepts credit and debit cards, or a checking account. SwiftPay is a digital wallet service that enables consumers to make shopping lists, scan manufacturers’ coupons from newspapers, and enter or scan loyalty cards to receive discounts.
SwiftPay is available to consumers as an Apple or Android-compatible app that is downloaded on to their mobile device once it is implemented by the retailer.
The app provides consumer with three different ways to shop with their mobile device. First, the consumer scans an item and creates a QR code with their payment information that was previously entered on the SwiftPay website or app. To check out, the consumer uses a PIN number and their basket of items is saved and an email receipt is sent to them. Second, if the consumer prefers to check out using a cashier, the cashier scans the items and the consumer uses the “Pay Now” button on the app. Finally, consumers can also “Scan, Pay and Go”, thus skipping the cashier entirely while the merchant can see and record sales, scan data and run banner campaigns from their portal.
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