Mobile credit card processing is a boon to small businesses that don’t want to be limited by a brick-and-mortar storefront. This post compares the features of some industry leading payment processing providers.
Editor’s note: This post is inspired by a very big supporter and twitter friend of mine, Allison Todd {@AllisonSmiles}. She is the CEO of management group 820 Butterfly. A few weeks ago she tweeted:
This tweet couldn’t have come at a better time since I’m actively trying to find the right credit card processor for my newest business venture Celebrate Atlanta. Personally, I’m looking for a fast paced or mobile payment method for my customers. As I began researching I realize how daunting this task can be and knew that I needed to reach out to the experts for their advice and opinion about ALL things pertaining to merchant services. This guest post is provided by Sarah Levy, a content writer for Merchant Express. Credit card processing is more than just comparing features there is a lot more to the industry that small business owners should be aware of to make the best decisions for their business. For this reason CardFellow’s content expert Ben Dwyer author of Credit Card Processing Exposed, will be sharing very important tips and advice for small business owners about the credit card processing industry here on Small Biz Diamonds next week. Stay Tuned!!!
Point-of-sale (POS) retail is no longer confined to a brick-and-mortar environment. Merchants and service providers are increasingly venturing into the field to meet consumers’ expectations, and they want to be able to collect payment on the spot. Fortunately, credit card processing has kept pace by going mobile and opening up new worlds of opportunity for small business.
When choosing a merchant services provider for your mobile credit card processing needs, keep a few points in mind. First, consider software and hardware compatibility with the smartphone or mobile device that you plan to use. Then consider the transaction features that go beyond the basics to best meet your requirements, including signature capture, tip add-on, information management and email receipts. Last but not least, make sure you understand all the applicable fees, such as set-up fees, monthly service fees and transaction fees, which break down into the base rate and the processing rate. The service provider should be able to use your average sales figure to help you calculate which package deal will deliver the biggest bang for your buck.
There are almost as many mobile credit card processing options as there are merchant services providers, and sorting through your options can be tricky. Given the relatively new technology that’s required and your need for fast, secure and reliable processing, it makes sense to choose a provider with an excellent track record in the industry. Here are five that fall into that category along with some of their selling points:
- Most payment types, including credit cards and checks
- Simple rate per transaction
- Free card reader and app
- Live customer support
- Manage multiple users
- Free credit card reader
- Works on any phone with mobile Internet access
- No set-up fee, no monthly minimum, no monthly service charge
- Synchronizes with QuickBooks
- Virtual terminal supports simultaneous users
- Works with existing bank account
- Card reader plugs into iPhones, iPads and Android phones and tablets
- Free app, no set-up or monthly fees and no contract
- Customized email or SMS receipt
- Tip prompt and sales tax calculator
- Accepts all major credit cards and signature debit
- Single-screen entry for speed and convenience
- Secure, PCI-compliant data transmission via SSL connection
- Advanced fraud detection with AVS support alerts
- Reduced processing fees through mobile swipe capability
- Emphasizes customized services
- Apps and services for Blackberry, Android, iPhone or any phone with Internet access
- Resells different processing programs to achieve low price offerings
- External card swiper not always required
- Email receipts
Processing credit cards from your smartphone or mobile device gives you the freedom to pursue the sale wherever it may take you, and that’s something a traditional POS credit card terminal just cannot deliver. The card never leaves the customer’s sight, SSL encryption ensures that sensitive account and personal information is secure, and emailed receipts make the whole process very green!
Merchant services providers and options for mobile credit card processing abound, so be sure to carefully consider the services and features that will best serve your small business’s requirements and then choose the processor that most closely matches them.
Are you using a mobile payment processor? Who do you use and what has been your overall experience? Share your small biz diamonds in the comments section below.
Sarah Levy is a small business freelance writer currently working with Merchant Express. Follow Sarah on twitter @sarah_levy81.