No Hardware No Problem: Flint Aims to Simplify Merchant Processing

Dongles. Who needs them?

Apparently not Flint, as they hope to provide mobile merchants and small businesses with card processing options without the hardware requirements.

The California startup, which recently received $6 million in Series B funding led by Digicel Group, provides merchants with a mobile app on iOS and Android to process credit and debit cards.

The app requires a smartphone or mobile device with a camera. The app captures the card information, which is not stored on the device; it’s encrypted and sent to the payment processor. The sale is finalized after the customer provides their signature on the device with a finger swipe.

This might take some getting used to, especially for consumers worried about security and credit fraud.

Getting past that potential barrier, using Flint has some clear incentives. The most important one being that there are no hardware requirements besides having a smartphone camera.

The rates are competitive, especially for debit card transactions. Flint takes a 1.95% + $0.20 cut of debit purchases, and 2.95% + $0.20 for credit.

Square for example, has a flat rate of 2.75% per swipe.

What’s next for Flint?

That $6 million infusion from Digicel, a mobile phone carrier that’s a major player in the Caribbean, might hint at an overseas expansion.