Navy Federal Credit Union has partnered with California-based mobile payments company Square to allow its Business Services group to offer simple and affordable credit card payment services for small business members.
According to the credit union, the business services members who sign up for Square will have low card processing costs with no activation or monthly fees.
Square offers cost-effective options for businesses of all sizes, including salons, contractors, restaurants, retailers, taxis, artists, and contractors.
The full suite of hardware and software tools of Square will allow businesses to accept credit cards on the go, manage a full point of sale system, and sell products online.
Navy Federal business services vice president, Jim Salmon, said: "By partnering with Square, we’re able to provide them with an easier way to accept credit card purchases and track their sales.
"The convenience of accepting credit cards anywhere for one low rate on an iPhone, iPad, or Android device will be very attractive for many of our small business members."