What Is Mobile Credit Card Processing?
Mobile Credit card processing allows businesses to accept credit and debit card payments using a smartphone or tablet. Instead of requiring a traditional credit card terminal, mobile processing utilizes an app and card reader that plugs into your mobile device’s headphone jack or connects wirelessly via Bluetooth.
There are a few well-known mobile processors like Square and PayPal Here. But plenty of alternatives exist too. When choosing a provider, compare features and pricing to find the best fit for your business needs and size. Be sure to read reviews from other users as well.
The world of retail and service transactions is shifting towards mobility. By leveraging mobile payment processing in your business, you can gain flexibility plus potential cost savings – while still offering your customers the speed and convenience of paying with credit or debit cards. It’s a win-win for both sides.
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Benefits of Accepting Credit Card Payments on Your Mobile Device
Taking credit card payments via your smartphone or tablet offers some key advantages for small businesses on the go. Some of it’s benefit includes:
1. Convenience
Accept payments anywhere, anytime right from your mobile device. No need for a physical card reader terminal.
Great for businesses at events, markets, delivering services, food trucks, and more. Meet customers where they are.
Quickly take and process orders using your device as the point of sale system. Streamline payment collection.
2. Flexibility
Choose from a variety mobile card reader options that plug into devices or operate via Bluetooth. Compatible with iOS and Android.
Select a mobile payment processor that offers fair rates and transparent pricing. Look for no hidden fees or complex contracts.
Accept all major card payments and even contactless payments like Apple Pay or Google Pay. Expand payment options.
3. Enhanced Customer Experience
With a mobile credit card processor, customers experience more diverse ways of making payment and they can also digital receipts without stress through email or SMS text message.
4. Quick setup
One of the most outstanding and loving feature of an mobile credit card processing is that it’s very easy to setup. The methods and processor can be setup within a week.
5. Seamless integration
Number of this service providers offer tools to sync transactions with popular small business software and accounting platforms.
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How to Choose the Best Mobile Credit Card Processor
Consider the following factors when making your choice:
1. Transaction fees and rates
This is one of the biggest factors that can affect your profits. It is necessary you pay attention to transaction fees, payment deposit times, monthly fees, and percentage-based rates.
2. Supported mobile devices
Make sure the card reader device and app are compatible with your phone or tablet. iOS and Android are the most common, but some also support Windows.
3. Security and compliance
Look for processors that use point-to-point encryption (P2PE) to protect card data. They should be Payment Card Industry Data Security Standard (PCI DSS) compliant.
4. Features
Determine what features are mostly required for your business, such as signature capture capability, digital receipts, reporting tools, inventory management integration, etc.
5. Customer support
Check reviews and test out customer service channels to ensure your payment questions and issues can be addressed promptly.
Prioritize criteria like rates, security, and device/OS compatibility based on your business needs. Weigh pros and cons of leading processors like Square, PayPal Here, Stripe, and Intuit QuickBooks GoPayment.
Taking time to make the right choice now will pay off every time you process payments seamlessly and economically!
Top Mobile Credit Card Readers for Small Businesses
When evaluating mobile card readers for your small business, here are top options to consider:
- Square Reader: This slim, white square-shaped reader plugs into your phone’s headphone jack or lightning port to accept chip cards and contactless payments like Apple Pay. Easy to use, affordable, and no monthly fees.
- PayPal Here: This triangular mobile reader connects via Bluetooth and allows you to accept credit cards as well as checks with their check capture feature. Also no monthly fee. Syncs with your PayPal business account.
- SumUp Air: A petite Bluetooth mobile reader with WiFi connectivity. In addition to credit cards, it accepts Google Pay, Apple Pay and Samsung Pay contactless payments. No monthly fees make it budget-friendly.
- Shopify Reader: Specifically designed for users of Shopify’s ecommerce platform. Features the ability to collect tips and signatures right on your mobile device screen. Seamlessly integrates with your Shopify checkout.
No matter which secure mobile payment processor you choose, look for one that easily pairs with your smartphone or tablet, comes with transparent transaction fees, and fits your business needs related to inventory, accounting, invoices and more.
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FAQ’S About Processing Credit Cards on a Mobile Device
Here are some asked questions about using a mobile device for payment processing:
1. What type of card readers can I use?
Most mobile card readers plug into the headphone jack or charging port on your smartphone or tablet. Popular brands include Square, PayPal Here, and SumUp.
Wireless Bluetooth card readers like Square Contactless can accept EMV chip cards and tap-to-pay without physically plugging into your device.
2. What payment types does it accept?
Most mobile readers accept all major credit and debit cards like Visa, Mastercard, American Express, and Discover.
Many also take contactless payments like Apple Pay and Google Pay. Some integrate with popular wallet apps too.
3. How much does it cost?
Expect to pay 2.6% to 3.5% plus $0.10-$0.30 per transaction in processing fees. Rates vary across providers.
You’ll also need a mobile card reader, which can range from free to $50+. Opt for a reader suited to your business needs.
4. Is it secure for customers?
Yes – data is encrypted when transferred from the card reader into the associated app on your mobile device. This helps prevent fraud or leaks.
No customer payment data is stored on your device either. It’s securely sent to the payment processor.
Make sure your device is password protected for an added layer of security as the business owner.