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How to Select Mobile Credit Card Processing

By Edited Nov 13, 2013 0 0

Mobile Credit Card Processing Overview

Selecting Mobile Credit Card Processing
Mobile credit card processing is a fast and easy way to complete customer sales transactions from any location, and you can do it right from your own phone. Instead of carrying around a bulky credit card processing terminal, you can use your phone to download mobile credit card processing payment applications and make fast transactions. Mobile credit card processing is the perfect solution for dealers who sell products at flea markets or craft shows. These devices are also great for service businesses who usually accept payments at the customers home. If your customers cannot make a cash payment or write a check, mobile credit card processing ensures you can always accept payments. Mobile credit card processing also returns immediate authorization for charges in real-time, so you can quickly complete sales transactions without the risk of fraud or declined charges.

Mobile credit card processing options can be cost-effective, compared to a regular credit card processing terminal. A credit card processing terminal can cost as much as $500, plus additional fees. You don't have to purchase a credit card processing terminal for mobile use, because you would be using your current phone. However, mobile credit card processing may or may not be available through your current phone. You will have to contact your provider to find out. There are many mobile credit card processing payment applications available for a variety of smartphones, including iPhone. You simply download the mobile credit card processing application and then complete the sale through a secure toll free number and confirmation number. The set-up costs for mobile credit card processing varies, but some only cost $20 to start. The cost for purchasing specialized mobile credit card processing phones can get pretty expensive to buy, but can provide lower transaction fees. You can also separately purchase mobile credit card processing equipment that can be attached to your phone for card swiping.

Mobile Credit Card Processing Security Concerns

Obviously security is a concern with these devices, but in reality, phone credit card processing does not store credit card numbers in the merchants phone. The transaction is completed through a secure mobile service provider via toll free number and confirmation number for automatic transaction. This not only protects the merchant from fraud, but it also protects the customers credit card number. You can visit stored sales transactions in your online merchant account any time. You can also do all of this right through your phone which is a big advantage over a regular credit card processing terminal. Some mobile credit card processing services provide options for downloading sales transactions into programs such as Quickbooks. Overall, mobile credit card processing is proven to be safe and efficient.

Mobile Credit Card Processing Considerations

Step 1

Consider mobile credit card processing equipment costs and merchant account expenses. The costs really depend on the type of phone credit card processing option you select. If you're not going to use your existing phone then you'll have to purchase a new one. You can buy a phone designed specifically for mobile credit card processing. Many of them even have the magnetic card slider on them. If you're going to use your own phone, you'll need to carefully consider all of the fees and associated costs. Phone credit card processing costs include equipment costs, software, activation, processing fees, swipe fees, monthly fees and reactivation fees for seasonal businesses.

Step 2

Check with your current phone provider to see if you can integrate mobile credit card processing. Your provider might charge extra fees or increase your monthly bill to pay for the extra costs of phone credit card processing. Some companies allow it to be added to your service for a low cost. Depending on your monthly sales income, you might need to take a look at other options and consider another provider for mobile credit card processing.

Step 3

Carefully consdier your current business income, or expected income, to choose the appropriate phone credit card processing service. Companies charge a base fee ranging from fifteen to thirty cents per transaction, plus the possibility of additional fees. The swiping mobile credit credit processing phones sold through Bluetooth cost a lot to buy, but they charge a lot less in fees. Investing in this type of phone could save you a lot of money in the long-run.

Step 4

Decide if you need a mobile credit card processing phone with special features. Some touch-screen phone credit card processing features allow the customer to enter a tip, or add a signature. Other features include a gps system that keep tracks of hot spots for business, while others keep track of taxes and allow receipts to be sent to the customer.

Step 5

Most owners already have a small business credit card processing account. Find out if the mobile credit card processing service can be used with your current account. If you don't have one, most phone credit card processing companies will help get you set up with one of their own.

Step 6

Find out if you can use small business credit card processing with your current phone. Odds are that you probably can. Mobile credit card processing is now commonly available for many types of phones with internet and touch-screen capabilities. Not every phone will be compatible with mobile credit card processing. If you're not sure, make the call to find out.


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