After opening an emu account, merchants in the UK can create a customised payment page that can be used on multiple devices, such as smartphones, tablets and PCs. The payment is processed by entering the customers card details on the page. emu then sends customers a link to complete the transaction.
The service is free of charge for the first GBP1000 (USD1612) and then carries a monthly flat fee of GBP4.99.
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This is the latest lof a series of point-of-sale applications that turn mobile devices into card readers. Square lead the way in the US, launching the first m-payment dongle in 2010. In March 2012, PayPal rolled out a similar reader, PayPal Here, in the US, Canada, Australia and Hong Kong.
In Europe, Swedish provider iZettle launched the first reader working with chip-and-signature rather than with swipe-and -signature, in November 2011.
Among these card processing services for mobile devices, emu is the only one that does not require a dongle, but uses cloud technology. The company said the payment processor complies with the Payment Card Industry (PCI) Data Security Standards. No sensitive information is stored on the devices and all data traffic is encrypted.
Unlike its predecessors, emu does not carry swipe fees, which are as high as 2.95% for mPowa, 2.7% for PayPal Here, and 2.75% for iZettle and Square- although the latter has recently launched a new deal including a flat monthly fee of USD275 and zero swipe fee.
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By GlobalDataemu is currently available only in the UK, but the company plans to expand the service in the rest of Europe.
