Flint taps phone cameras for card payments

Flint taps phone cameras for card payments

US start-up Flint has unveiled an app that lets merchants accept payments by snapping cards with their iPhone cameras and raised $3 million in series a funding.

Unlike Square, PayPal Here and others, Flint does not require users to attach a card reader to handsets. Instead, merchants use their phones' cameras to scan customer card numbers and then manually enter the verification details.

The Flint app, currently available as an invite only beta, instantly sends an authorisation request through its PCI compliant payment gateway partner. No card data or images are stored on the phone.

Flint charges 1.95% and $0.20 per transaction for debit cards and 2.95% and $0.20 for credit cards.

The firm is also pushing its social marketing tools, with merchants able to customise receipts with loyalty offers and customers able to post reviews and recommendations about businesses to Facebook pages.

The $3 million financing round, led by Storm Ventures and True Ventures, will be used to accelerate product development, hiring, and customer acquisition.

Greg Goldfarb, co-founder and CEO, Flint Mobile, says: "Our first product takes the hassle out of on-the-go credit card processing and provides an easy on-ramp to capitalise on social marketing. Essentially, we are starting to turn credit card transaction fees into an investment in online customer engagement."

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