Product: Mobile Swipe
Company: Semtek Innovative Solutions Corp.

Many types of merchants could benefit from accepting card payments while in the field, and companies in the electronic payments industry are making much effort to enable everyone from plumbers to pizza deliverers to take plastic.

Some kinks still exist in the system, however. Attaching card readers to mobile devices such as cell phones and PDAs, though convenient, is not very efficient in terms of extending the device's battery life. Constant use drains the power supply, especially when something is attached.

Semtek Innovative Solutions Corp., which specializes in mobile payment solutions, recently received a patent (US 6,944,782) on a magnetic stripe reader (MSR) that serves as the backbone for its new Mobile Swipe solution.

The MSR only uses the electrical power that is supplied by the mobile device. Unless a card is being swiped, the MSR remains in sleep mode, barely taking a scratch out of the battery's life.

Credit card transactions also can be keyed in, if necessary, and there is an instant authentication response. The card data are triple-DES encrypted right at the card reader.

To complement the hardware, Semtek offers Mobile Swipe on the Web, its backend processing software solution for mobile payments.

Mobile Swipe on the Web enables merchants to track the card processing activity by the device's user and the device itself. It also allows for card-not-present transactions for e-commerce and MO/TO merchants and "anytime" access to reports of merchants' sales activity.

The Mobile Swipe solution works with a variety of handheld devices and cell phones.

Semtek Innovative Solutions Corp.
858-300-3380
www.semtek.com