Accepting payments, managing cash flow, and ultimately growing their business are more attainable and easier than ever for Canadian small businesses thanks to Dream Payments’ recent partnerships with key players in the financial services industry.

Dream’s cloud-based mobile payment technology — available through a retail distribution network — has been selling out since it came to market two years ago. The secure, affordable, mobile point of sale (POS) device connects to a mobile phone through Bluetooth, enabling small business owners to accept Interac debit and credit card payments. “Over half of all card payment transactions in Canada are actually debit,” says Christian Ali, the Chief Marketing Officer at Dream Payments. “So if you’re a small business and you can’t accept debit or if you limit the amount by which a customer can pay with debit, you’re losing sales and money.”

Unlike traditional POS solutions, like tethered cash registers and payment terminals, the Dream technology enables business owners to go completely mobile and to focus on growing their businesses. “It’s the first and only off-the-shelf device that accepts Chip and PIN cards and that allows owners to accept payments anywhere their business goes,” says Ali. “Unlike traditional service providers, which can take several weeks to get up and running, with Dream you can set yourself up and start accepting payments within minutes.”

Partnering with established players

With a proven cloud based infrastructure, software and technology, Dream is expanding and growing by bringing its mobile payment services platform to established players in the financial sector. “Companies like Chase Paymentech are leveraging the Dream platform to deliver mobile experiences to their customers that are vastly better than what they’ve been able to offer in the past,” says Ali.

Financial institutions have legacy systems that, while robust and reliable, are not flexible or easily adaptable to the new devices and technology on the market. “By the time these institutions bring new features and products to market, they’re already dated and obsolete,” says Ali. “Because the Dream platform is hardware agnostic and doesn’t require changes to the legacy environment, it can power whichever new technology and hardware the institution chooses. This puts them in a better position to service their small business clients quickly with something that’s customer-centric and meets the needs and expectations of today’s merchants and consumers.”

Seamless integration with other apps

Though usable primarily as a mobile payment device, Dream also integrates with other business and workflow apps. “Our ability to seamlessly integrate with app partners is meeting a huge demand for small businesses seeking inter-operability across the tools they already love to use,” says Ali. The company’s partnership with Intuit QuickBooks, which launched in February, is a perfect example. Using Dream, users now have the ability to reconcile all QuickBooks transactions instantly. “Every payment they take automatically updates their QuickBooks accounting in real time,” says Ali. “Sales line items, taxes, and inventory are all synced instantly, which allows small business owners to better manage their cash flow and overall business.” 

Compared to other solutions with similar integrations — where a batch update is performed at the end of the day and the business owner still has to go through the day’s transactions to reconcile — the Dream system has internal checks and balances built in. “We save business owners many hours of reconciliation in accounting efforts every month,” says Ali. “We’re giving them back time and saving them money at the same time.”

Going forward, Dream is expanding its retail distribution and partnerships in keeping with its mission of helping businesses succeed. “Whether it’s small businesses needing mobile payment technology or large financial service providers seeking to offer differentiated service offerings, Dream provides the platform and technology that helps businesses of all sizes grow and succeed,” says Ali.