There's nothing new about paying for stuff without using cash, but what is new is the growing number of ways people can transfer money electronically.

The latest addition to that growing list is Swipe HQ, which turns smart phones and iPads into portable eftpos systems.

Hamish Pilkington is a regular at the market in Parnell where he sells a range of macadamia nut products.

He already uses an iPad to tell customers more about his family business, but that iPad could also become an electronic money terminal thanks to the Swipe HQ.

“It'd be great to have one less device on the store, so if we could get rid of our eftpos terminal and use a smart phone that would be fantastic, ” says Mr Pilkington.

Swipe HQ is the brainchild of Auckland business Optimizer HQ.

Other companies are doing a similar thing overseas, but the founder Manas Kumar says the system is a first in New Zealand.

At the market, punters were most concerned about security.

But Mr Kumar says the technology meets the industry standard security regulations.

“Nothing is stored on the cellphone itself, ” says Mr Kumar. “All card transactions are done through a completely secure channel. Security has been a very important focus for us in this case.”

Handyman and painter Roger Singleton says the new technology will make it much easier for clients to pay tradespeople on the job.

“It saves a lot of paperwork, saves a lot of ringing up and saying you've forgotten about your bill, and a lot of embarrassment. It's a pretty good idea.”