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With Mobile World Congress taking place this week in Barcelona there is the normal flurry of activity from all the major handset manufacturers with-regard-to new models, software updates and the latest trend – wearable technology.

Samsung Galaxy S6New technology fads aside, the news to pay attention to, particularly for small businesses, is Samsung’s announcement that its payment service, Samsung Pay, will be released this coming summer.

There is clever technology that underpins this payment service but the essence of it is that you’ll be able to use the Samsung Pay app to select your credit/debit card of choice and use your finger print to confirm. The app will work with all existing card terminals and all the big guys have signed up – Visa, MasterCard and American Express.

Samsung Pay will be rolled out in the US and South Korea first and will hit Europe, China and other regions shortly after.

So, what does this mean for your small business? If you cater to the teenage / young adult market, then you will have to prepare your business to accept Samsung Pay and other mobile payment apps. This technology is easy to integrate with your existing payment infrastructure so there is no reason for you not to be ready and able when the time comes. If you don’t, you can bet your bottom dollar that your competitors will.

With a projected summer release date in the US it’s highly likely that Samsung Pay won’t hit our shores until sometime in 2016.

First steps first, read our Forms of Payment Guide for a run through of the various ways your small business can get paid. Plus, we’ll be publishing more details on the mobile payment apps as they appear.

Be clear about one thing, mobile payments is coming to your business community and it will be a game changer. Be in the game, be mobile payment ready!

Marc O'Dwyer

After completing a Graduate program in Marketing, Marc’s impressive sales career began at Allied Irish Banks, Pitney Bowes and Panasonic where he received numerous Irish and European sales performance awards and consistently exceeded targets and expectations. In 1992, Marc’s entrepreneurial spirit led him to set up his own business, Irish International Sales (IIS). Initially, this company was a reseller for Take 5 Accounts and Payroll software. Within four years, IIS became the largest reseller of Take 5 in Ireland, acquiring four other Take 5 resellers. He also found time to set up two mobile phone shops under the Cellular World brand and a web design company offering website design services for small businesses. In 2001, he bought the majority share in a small Irish software business, Big Red Book. At that time, the company was losing money. The company became profitable within two months, and Marc then acquired a payroll company to compliment Big Red Books Accounting products. In 2003, IIS were appointed as Channel Partners with SAP for their new SME product, SAP Business One. Marc sold his Take 5 business and concentrated on developing this new market for SAP As a result, by 2007, IIS was recognised as the largest Channel Partner for SAP in EMEA (Europe Middle East and Africa). In 2008, the IIS Sales Manager bought the Company from Marc in an MBO. He launched Big red cloud in June 2012, the online version of big red book, to date the company successfully converts 59% of trials into sales and the number of customers is growing rapidly. Marc continues to run both Big Red Book and Big Red Cloud which now support 75,000 businesses. He is a very keen sportsman, having played rugby for 20 years, represented Leinster at under 16 and under 20 levels, and league squash with Fitzwilliam Lawn Tennis Club for 10 years. Marc has competed in 11 Marathons, including the London and Boston Marathons, and has completed several Triathlons and Half Ironman races. He has also completed six Ironman Races in Austria(x2), Frankfurt (Germany), Nice (France) , Mallorca (Spain) and Copenhagen (Denmark)

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