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Melbourne, 8 April 2009: SOHOs, SMEs and mobile business operator-owners can say goodbye to tight cash flow, irksome invoices and hours of administration, thanks to an innovative portable payment system now available at Officeworks.
MiniMint software from Mint Wireless is a simple, easy to use payment system that turns mobile phones into cash registers. A godsend for small business owners fed up with chasing outstanding invoices, the MiniMint allows for instant cash, credit card, cheque and account payments, including on the spot approval, decline and fraud detection, all via mobile phone.
Officeworks Business Machines and Technology Buyer, Sandy Young, says that effective money management for small business operators is critical in the current economic climate.
"Even just a few late paying customers can negatively affect the cash flow and productivity of a small business. But with MiniMint, the money is in your bank account as soon as a job is finished," Sandy said.
According to the latest Dun & Bradstreet (D&B's) Quarterly Trade Payments Analysis, Australian companies are under more pressure than ever as a blow-out in trade payment days hits business cashflow. Businesses averaged 56.5 days to settle accounts in the December 2008 quarter, the highest level recorded since 2001.*
"The MiniMint can help facilitate cash flow control by enabling secure and instantaneous transactions anywhere and anytime, meaning less time wasted chasing payments and more time spent earning revenue," Sandy said.
Tradies, personal trainers, photographers, plumbers, gardeners, locksmiths, removalists and caterers are among the hundreds of service providers that stand to benefit from this new technology.
MiniMint software is purchased on a yearly subscription basis and works on smartphones including Blackberry, Nokia and most Windows 5.0 and 6.0 PDAs. The software can work in conjunction with the user's existing bank credit card merchant account, or via a new account set up by MiniMint.
The MiniMint payment transaction involves four easy steps:
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The sale amount is entered into the program, using the mobile phone keypad
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The credit card type is selected
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If the phone has a touch screen, the customer signs on the screen
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The receipt is then emailed or sent via SMS to the customer
As soon as a credit card has been processed, the transaction is permanently stored on a secure online reporting website so users can easily access their records.
"The website also allows users to easily monitor field staff progress and track sales as they happen, which is a huge benefit for managers and accounting staff. Transactions can also be exported into existing accounting software, making it even easier to run up-to-date sales reports," Sandy said.
For users who prefer the convenience of swiping cards and printing receipts on the spot, a MiniMint printer card reader can also be purchased at an additional cost.
"MiniMint users and their customers can also have peace of mind knowing that the MiniMint is certified under 3DES PCI, the payment industry standard used by the major banks," Sandy said.
The MiniMint system subscription is $199 for 12 months. Each transaction is charged at $0.99, and the system can be configured to recoup this cost from a user's customers as a processing fee. Each 12 month subscription also includes 20 bonus credit card transactions.
MiniMint kits include everything you need to get started - a quick start guide, a user manual and a CD featuring online activation forms, support information and instructional videos.
To find out more about Officeworks, head to www.officeworks.com.au
ENDS
*Dun & Bradstreet Quarterly Trade Payments Analysis, 19 January 2009.
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