Product: All Inclusive Mobile Merchant (AIMM)
Company: CardWare International, Resource Leasing Co.
As in prior years, the 2012 Electronic Transactions Association Annual Meeting & Expo presented a showcase for product innovation. One such offering was the integrated mobile payment solution All Inclusive Mobile Merchant. AIMM is the brainchild of Biff Matthews, founder and President of CardWare International, and Chip Nichols, Chief Executive Officer at Resource Leasing Co.
Matthews and Nichols recognized that bundled systems for mobile payments were not as accessible as traditional POS systems. This raised questions about device ownership and whether an ISO's existing processor could process mobile payments. Through AIMM, merchants can now pay one monthly device fee and receive the complete package, according to Matthews and Nichols.
In designing the program, two issues facing mobile merchants needed to be resolved: the potential misuse of the devices for activities unrelated to business and the risk and cost associated with loss of the devices once in operation. To address the first issue, AIMM employs C-Cure-Loc, a proprietary system that reportedly removes nonessential applications from the mobile devices, such as games and social media, and once removed, prevents the apps from being reloaded.
Pairing AIMM's "proprietary remote management advantage with the device's GPS" solves the second concern, Matthews said. He added that this enables merchants to pinpoint device location and to control the device remotely. For device retrieval, merchants can send a return device message to the user, lock the device to prevent further usage until returned or clear all programs from the device.
According to Matthews, remote management also permits diagnostics, hardware and software problem solving, device configurations and upgrades done remotely, by unit or ensemble. Should a replacement device be required, a preconfigured, enabled and tested device will be shipped. AIMM smart devices come equipped with calculator, calendar, global positioning system, phone function and a browser that links to a merchant-designated website.
"From experience, Chip knew that buy rate was key to incenting the true MLS [merchant level salesperson]," Matthews said. "So we based AIMM's monthly service fee on a competitive buy rate, allowing the MLS to establish the selling price that gets them the deal while making them money." He added that with AIMM, MLSs can maintain their existing processors, and because the program is based on a month-to-month plan, no long-term contracts are necessary.
Resource Leasing Co.
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