Accepting payments via mobile devices is one of the fastest-growing and easiest ways to process credit card transactions. Using a mobile credit card processing service, businesses can use a smartphone or tablet to take payments wherever there is mobile service. Whether you want to be able to take payments anywhere in your store or everywhere you and your business go, accepting payments using a mobile device is easy as plugging in a pocket-size card reader into your audio jack and launching an app to process transactions.
With so many mobile credit card processing services available in the market, the hard part isn't using the service. The challenge is in choosing the right one for your business. From payment options to security features and service costs, there are several factors that you need to consider before signing up.
BusinessNewsDaily's sister site, TopTenREVIEWS, does extensive in-depth reviews to help you find the best mobile credit card processing service for your business. The site also hosts a mobile credit card processing calculator to help you figure out exactly what each service will cost you and how much you will save based on your expected monthly revenue. To keep your customers' and your business's data secure, all reviewed services are Payment Card Industry (PCI) compliant, use Secure Socket Layer (SSL) encryption, are password-protected, and do not store credit card information on devices.
Editor’s Note: Looking for a way to accept credit cards on mobile device? If you’re looking for information to help you choose the right mobile credit card processor, use the questionnaire below to have our sister site, Buyer Zone, provide you with information from a variety of vendors for free:
Here are TTR's top 3 recommendations for the best mobile credit card processing services.
Flagship ROAMpay Merchant Services earns the Gold Award for a number of reasons, including its easy application process, which has a 98 percent approval rating, competitive pricing and a free mobile reader. There are no annual contracts, with service on a month-to-month basis. Completed transactions are credited to the businessaccount within 48 hours, with other options for accepting payments should the mobile service be interrupted.
Hardware and Compatibility:Android, Blackberry and all iOS (iPad, iPhone or iPod Touch) devices.
Transaction Features:Accepts all major forms of credit cards. Service allows for exporting all transactions into the business's accounting system and recording all customer contact info to help build marketing campaigns. The service is password-protected.
Costs:Flagship ROAMpay currently has a transaction fee of 19 cents per transaction and has the highest estimated annual savings. To compare costs, visit TopTenREVIEWS' Best Mobile Credit Card Processing Services review.
Leaders Merchant Services receives its high marks for boasting some of the lowest advertised pricing. There are no startup, statement, application or customer service fees. Users can key a credit card number into their phone or tablet, but each transaction costs less if they swipe cards through the credit card reader that Leaders provides free of charge.
Hardware and Compatibility: The Credit Card Processing Merchant Account app is specifically designed for the iPhone, iPod Touch and iPad. However, Leaders has partnered with ROAM Data to offer service to BlackBerry and Android devices.
Transaction Features: Accepts Visa, MasterCard, Discover and American Express, as well as debit cards. Easy options are also included for voiding transactions. Offers customers the opportunity to get a digital receipt and add a tip.
Costs:Leaders currently has a transaction fee of 10 cents to 30 cents per transaction. To compare costs, visit TopTenREVIEWS' Best Mobile Credit Card Processing Services review.
Intuit GoPayment takes the Bronze Award in part for offering a free credit card reader that works with any mobile phone. In addition, it offers options to pay as you go or pay a monthly flat fee. There are no setup fees, monthly minimums or monthly service charges, and no cancelation, gateway or annual fees.
Hardware and Compatibility: Supports Android and all iOS (iPad, iPhone or iPod Touch) devices. Intuit GoPayment is not available on BlackBerry devices.
Transaction Features: Automatically adds sales tax into each transaction, captures customer signatures on touch-screen phones and syncs with QuickBooks accounting software. It allows up to 50 employees taking sales and processing credit cards on their phones from one account. The app is password-protected to avoid fraud if a phone is lost or stolen.
Costs: Intuit GoPayment currently has a transaction fee ranging from no charge up to 15 cents per transaction and has the lowest estimated annual savings of all reviewed services. To compare costs, visit TopTenREVIEWS' Best Mobile Credit Card Processing Services review.
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Originally published on BusinessNewsDaily.