🔒The right touch | Two Maine companies dive into iPad technology, while others dabble

When a veterinarian uses one of Idexx Laboratories’ digital X-ray systems to examine a dog’s broken leg or investigate swelling in a horse’s knee, they’re already one step ahead in the technology game. But while digitizing traditional film X-rays comes with a host of benefits for a veterinary practice, it can actually complicate one crucial […]

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Swiping credit cards, on the go

It may be tiny, but the Square credit card reader is making big waves in the retail world. The reader, which plugs into the headphone jack of an iPad, iPhone or Android device, allows merchants to accept credit and debit card payments in exchange for a flat, per-swipe transaction fee of 2.75%. The reader and its accompanying app, meanwhile, are free.

In the face of high swipe fees imposed by banks, Square’s model makes for an attractive alternative for many small businesses. The amount banks can charge for debit card swipes recently was capped at 21 cents, down from an average of 44 cents, as the result of recent legislation, but that’s still enough to dissuade some smaller merchants from accepting plastic.

Square, the California-based mobile payments venture created by Twitter co-founder Jack Dorsey, in June announced a $100 million cash infusion, and recently went mainstream by offering its reader at Walmart stores. The company has shipped 800,000 of its readers across the country, and is processing $2 billion in payments annually, according to a spokeswoman.

In Maine, the company reports nearly 2,000 merchants are using its mobile payment system. That includes Hannah Warren, owner of Eden Valley Bakers in Fryeburg. She began using the reader in July, after previously accepting only cash and checks. Now, she can email or text a receipt to her customers by the time they walk out the door, and have buyers of her breads and muffins sign for a purchase with the swipe of a finger on her iPad. “I wouldn’t go back to a cash register at this point,” she says.

The Square app also allows her access to new analytics. Warren, who worked in corporate financial systems for nearly three decades before opening the bakery in 2007, can track each item sold, the date and time, and the amount. By inputting the data into a spreadsheet program, she can examine a given timeframe to see, for example, how many baguettes she sold. Each transaction is confirmed by email and the funds are deposited promptly to her account, some days before she arrives at the bank with her cash deposits. “Not only does Square meet my needs from a credit card perspective, it also meets my needs from a more nimble cash register perspective,” Warren says.

The service can be slow, depending on cellular traffic at the nearest tower, as well as on the quality of the card being swiped. But Warren is confident that customers are spending more than they would with cash or checks. Instead of picking up just a loaf of bread with the bills they have on hand, customers will add some olive oil or a can of tea to their purchase, too, she says.

So far, her customers are intrigued by the new technology. “We can be technologically savvy here in the state of Maine,” Warren says.

Jackie Farwell

iPads on a smaller scale

While Idexx and Pine State Trading have invested heavily in custom tablet technology, plenty of Maine businesses are experimenting with iPads on a smaller scale.

Charles Petersen, president and CEO of Biddeford Savings Bank, saw his son toting around an iPad while home from college, and knew he had to have one. Petersen scooped up one of the devices for himself and brought it to a board meeting, loaded with a few relevant documents.

The bank’s other directors were intrigued, and soon the group decided it made little sense to print out, collate and mail a couple thousand pages of material each month for their regular meetings. Now, the seven directors and six bank executives each have an iPad, which they use to review, highlight and bookmark a PDF version of their board packets using an app called GoodReader. “Everyone was on board,” Petersen says. “And a couple of the folks were not people who were really into technology before.”

Biddeford Savings’ $6,500 investment in the tablets has also facilitated the executive management team’s quarterly book club meetings. The group recently used a Kindle app to buy “The Value Profit Chain,” its latest read, for much less than the hard copy version. “Historically, the business world was a PC world or a Microsoft world, but now the interface is a little bit easier,” Petersen says.

At MEMIC, the workers’ compensation insurer in Portland, about a dozen employees are experimenting with iPads, says Catherine Lamson, senior VP and chief administrative officer. The tablets come in handy particularly for reading documents and email, she says. “iPhones are great, but the screens are only three inches,” she says. The company has received good feedback after purchasing the devices about nine months ago, but hasn’t yet determined whether they’ll be a successful addition. “It’s a huge investment, too, these things aren’t cheap,” she says. iPad2s start at $499.

Still, the tablets are sure to shape business communications in the months and years to come, Lamson says. “I can see that these are going to be folded into our business lives,” she says.

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