The merchant payments business has undergone a massive disruption thanks to rapid growth in the smartphone market. The legacy players in the merchant payments space have suffered mightily; consider VeriFone’s (NYSE:PAY), whose stock has been cut nearly in half in the past year.
The leader in this megatrend is Square, whose co-founder, Jack Dorsey, actually was one of the masterminds behind Twitter.
However, Square is not the only company the industry needs to worry about. Many others are making a push, including Flint.
Flint’s process has a bit of a twist: Rather than a card swiper, Flint instead relies on a phone’s camera to read the credit or debit numbers.
The company also offers some cool features that allow merchants to improve sales, such as allowing merchants to put together email or push notification campaigns to boost offers or promotions. Flint also makes it easy to allow customers to post testimonials on Facebook (NASDAQ:FB) — though that’s also a driver for its own business.
To learn more, I recently conducted a video interview with Flint CEO and co-founder, Greg Goldfarb. Here’s what he had to say about how his partnership strategy has been a key to success:
Tom Taulli runs the InvestorPlace blog IPO Playbook. He is also the author of High-Profit IPO Strategies, All About Commodities and All About Short Selling. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.