05/06/2014

Coming This Summer to a Mobile Device Near You: VT4®

Coming This Summer to a Mobile Device Near You: VT4®

We announced our mobile payments product, VT4®, during last month’s Transact 14: Powered by ETA conference. Our team has been hard at work creating the fastest and most secure mobile payment solution for you. VT4 will provide merchants a convenient way to accept credit, debit, gift card, and cash transactions from a smartphone, tablet, or laptop. VT4 turns mobile devices into a point of sale, and will be accessible through our iOS app or a Web browser.
VT4 received a warm welcome from conference attendees who had the opportunity to see a demo of sales, refunds, and voids on smartphones and tablets, and VT4 is already stirring quite the buzz with our excited merchant customers. Here, we’d like to take a moment to answer the top questions we’ve been receiving about our newest product.

Can I use an existing Merchant ID (MID)?
Yes, any established MID can be used with VT4. There is no need to establish a new MID in order to use VT4, although you absolutely can if you need and/or want to.

Can VT4 accommodate multiple MIDs?
Yes! You will be able to assign an unlimited number of MIDs to your mobile devices using VT4. Users can easily toggle back and forth within seconds between any of the MIDs that they have the authorization to access. Account administrators can set users’ privileges and settings to allow them access to only one or all of the MIDs that you are using with VT4.

Where do I get the hardware (swipe devices) needed?
VT4 works with approved P2PE-enabled swipe devices, such as the ones offered by ID TECH and ScanSource, to ensure the highest level of cardholder data security during transactions. Here is the list of approved swipe devices for smartphones, tablets, and laptops.

To purchase ID TECH devices in quantities up to 499, merchants can visit the ITSCO mobile products page. Merchants purchasing in bulk (over 500 units) can contact ScanSource.

Can I use VT4 to accept cash or mixed-tender payments?
Yes, VT4 can do both! You can accept cash, credit, debit, and gift card payments from any mobile device using VT4. You can also accept mixed tenders within a single transaction.

When can I get VT4?
During the upcoming HITEC conference, Shift4 will introduce VT4 and announce its official availability date. We are expecting to have VT4 available to our merchant customer base this summer.

How much will VT4 cost?
We will make an announcement once pricing has been finalized.

In the meantime, visit our VT4 Web page for more information on how our latest innovation is going to raise the bar – yet again – for the way payments are processed.