Smartphone Apps

In 2014, Anyone With A Smartphone Can Take Credit Cards

The mobile credit card processing field has undergone astronomical growth in the past few years. In the past, it may have been necessary to have specialized cellphones, or bulky equipment to swipe a card and make a transaction in the same manner that it was done via landline. Since 2011, apps like Square have merged swiper hardware (in the form of the now-ubiquitous "dongle") with downloadable applications. Paypal Here, Intuit GoPayment, Verifone Sail or PAYware, and Ingenico ROAMpay all offer pocket-sized card authorization. How much you pay for the convenience depends on the way you have set up your account, but the average fixed-rate cost hovers around two and three quarter percent of each transaction. For micro-businesses and fundraising efforts that don't ever plan on averaging more than ten grand a month on processing, these devices may be just fine.

Mobile Payment Processing Equipment

Mobile Payment ProcessingThe mobile processing field also extends to tablets and phablets at the same time. If you have a WiFi connection, you can take cards in iPads and similar tablet computers. For merchants who have an existing relationship with an ISO, there may be requirements for the type of app installed and the nature of the cradle used to swipe the card.

Mobile Credit Card Terminals

A nearly forgotten aspect of mobile processing comes in the form of mobile terminals, which can really set an established business apart from all the amateurs with their dongles. Terminals like the Verifone VX610 or VX680, Dejavoo M3, Mobilescape 5000, Hypercom Optimum M4230, and First Data FD400Ti all have wireless or GPRS capabilities that allow for a much more professional experience. When you can print a receipt, show a real credit card terminal, and swipe a card through something that doesn't look like a kid's toy, then you have an advantage over other people selling the same products. These terminals also indicate that you've got a real merchant account, and on your end you can get processing rates that are exactly the same as what you'd get with an in-store machine. Many of these terminals also do something that dongles can't: they can read EMV cards. While there are currently only a few of these on the market, more of them are expected to be prominent thanks to recent data breaches and consumer awareness.

Who uses mobile credit card machines and wireless terminals? Before the explosion of DIY processing, the biggest merchants were (and still are) contractors, delivery companies, sellers at antique shows, convention vendors, and roadside stands. Some seasonal companies and pop-up shops will rent mobile credit card processing equipment for use at fireworks stands and farmer's markets.