Mobile Credit Card Readers Quiz

Staff

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About This Quiz

Small businesses that don’t work out of a brick-and-mortar location, along with individuals who sell products and services on the side, are taking advantage of the convenience of mobile credit card readers. How much do you know about them?

Which of the following mobile credit card readers is the brainchild of Jack Dorsey and Jim McKelvey?

Jack Dorsey of Twitter fame and his friend Jim McKelvey came out with the Square, which was among the first popular mobile credit card readers to come onto the market.

Which company was the first to come out with a mobile credit card reader that was NFC-enabled?

Erply announced in August 2011 that it was coming out with a mobile credit card reader that was NFC-enabled. NFC stands for near-field communication and refers to the technology that allows customers with credit card information stored on their smartphones to wave the device over an NFC-enabled reader to conduct the transaction -- no swiping required.

At the 2011 Black Hat security conference, which mobile credit card reader did hackers use to demonstrate how to take advantage of its lack of encryption?

Using the Square reader and software, hackers Adam Laurie and Zac Franken demonstrated how it was easy for hackers to transmit stolen credit card information into a smartphone without physically swiping a card.

Credit card transactions aren’t free for merchants. What kind of fees do mobile credit card services charge?

A service providing mobile credit card software and reader might charge per-transaction fees and/or monthly fees.

What's the name for the process of converting credit card information into unreadable data to send it over a network safely?

Encryption involves converting sensitive credit card data into a code that isn’t usable for those who might intercept the information.

Which mobile credit card reader allows you to track payments with QuickBooks accounting software?

The GoPayment is made by Intuit, the same company that makes QuickBooks, and small businesses can easily use them together.

Which company is behind the PAYware mobile reader?

VeriFone uses the PAYware mobile reader for its mobile credit card service.

Which of the following services does not require a merchant account?

Square quickly became popular among individuals because it doesn't require a merchant account.

What's the name for theft of credit card information, usually by means of a scanning device?

Skimming refers to stealing credit card information, usually using a scanning mechanism. Criminals are known to attach these to credit card scanners at gas station pumps, for instance.

VeriFone’s CEO accused which company of not using encryption for its credit card reader?

Douglas Bergeron of VeriFone said Square was unsafe for consumers because it didn’t encrypt data before transmitting it into a smartphone. Square’s CEO responded that these claims were not fair or accurate.

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