PAYware Card Reader	PAYware Key in	Signature Capture	Time of Funding
iPhones 3G, 3GS	X	X	X	1 day
iPhone 4	X	X	X	1 day
iPad		X		1 day

PAYware Mobile Chart

Since you have landed on this webpage, you probably already know about VeriFone’s PAYware Mobile app. You have probably heard that it can turn your phone into a credit card processor. Maybe you read about how customers often spend up to 15% more when they pay for items by credit and now you are thinking that being able to accept credit cards would be good for your business, but you are a little confused about how all that applies to your iProduct. This chart helps you see the differences and similarities at a glance.

For the iPhones 3G and 3GS, there are two options for entering the credit card data on your phone. The first uses the encryption sleeve. This hardware will read the data from the card’s magnetic stripe and encrypt it for transmission. Only some of your customer’s information will automatically display on your phone. As a security feature, only the final four digits of the card number show. The sleeve also holds a stylus so that you can capture the customer’s signature. Swiping the card reduces the chance of error and qualifies you for lower merchant rates.

If you do not have the card reader, you can still process credit cards using the key-in approach. On the iPhone 4 and the iPAd, information must be keyed in manually, but the data is still encrypted before transmission.

No matter which device you use, cards are processed in real time and the funds reach your account the next day.