Consumers are concerned about mobile payment security, according to a new SAP report.
Credit: Mobile payment security image via Shutterstock
Businesses that are run from a traditional storefront or are trying to make the checkout process a little simpler for customers often turn to mobile credit card processing. In order to do that, it is critical that they have a credit card reader that can attach to a mobile device. While the iPhone might get the most attention, Android phones are actually more popular, so having an Android credit card reader is an important step for businesses looking to accept mobile payments.
Android credit card readers give mobile businesses an easy way to ensure they are giving their customers as many payment options as possible. Mobile Android credit card readers work with a business's merchant account so that it can conduct secure payment processing, manage its account online, text and email receipts to customers and gather customer contact information to help with future marketing campaigns.
When choosing an Android credit card reader, there are a number of things small business owners should be looking for, the most important of which is cost. The cost to establish a merchant accountthat accepts Android credit card processing can include setup fees, charges for the use of the physical card reader and ongoing monthly and transaction fees. It is essential that business owners shop around to find the service that is most cost-effective for their needs.
Other things they should be looking for include the hardware offered and the transaction features that are provided, such as the ability to capture customer signatures, calculate sales tax and accept tips. BusinessNewsDaily's sister site, TopTenREVIEWS, does extensive in-depth reviews to help business owners find Android credit card readers and credit card processing services. Here are TopTenREVIEWS' top three recommendations for the best Android credit card readers:
Flagship Merchant Services
Flagship Merchant Services is the top-rated credit card processing service and earned this year's TopTenREVIEWS Gold Award for Android credit card processing. Businesses owners can apply online and are quickly approved 98 percent of the time. The Android card reader costs users nothing, and the mobile app includes features that demonstrate that Flagship understands what business owners expect in a point-of-sale (POS) system. Its Android credit card reader accepts all types of credit cards, as well as debit cards. Should the mobile device lose its signal, businesses can continue to make sales because the system will store all of the data and then transmit the transactions once the device is back in range.
Pricing: It's free to apply for the service, as is the Android credit card reader once the business is approved. There is a $7.95 monthly wireless-access fee, as well as a cost per transaction, which is 19 cents plus a percentage, which can range from 1.58 to 2.56 percent of the cost of the purchase.
Hardware and Compatibility: In addition to supporting Android phones, the ROAMpay hardware provided by Flagship can attach to iOS and BlackBerry devices. The hardware is small and light, and it plugs into standard headphone jacks. Should business owners run into any problems with their hardware, support services are available by toll-free telephone and email 24/7, 365 days a year.
Transaction Features: The Flagship service supports payments via American Express, Discover, MasterCard and Visa. It can also record all cash transactions. In addition, the service has the ability to build a targeted marketing campaign based on the customer contact information that the system captures. The service also lets businesses build in tax calculations and accept tips, and allows customers to sign for the transactions using the mobile phone's touch screen. The service is extremely secure: Its mobile app is password protected and Payment Card Industry (PCI) compliant. In order to be PCI compliant, Flagship adheres to such practices as not supplying default passwords, protecting stored credit card data and encrypting each transaction session.
Leaders Merchant Services
Leaders Merchant Services earned this year's TopTenREVIEWS Silver Award for fees that are substantially more affordable than most of its competitors', as well as its array of features, including the ability to accept all types of payments. The service also offers top-notch security in the form of transaction encryption and password protection. For those who run into trouble, customer support is offered around the clock.
Pricing: There is no charge for the Android card reader, and no charges for applying or setting up an account. For transactions during which a customer runs an actual credit card through the Android credit card swiper, the transaction fee is 0.35 percent; however, that cost jumps to as much as 1.99 percent when the credit card number has to be keyed in manually. There are also flat fees per transaction that run between 10 and 26 cents.
Hardware and Compatibility: Leaders Merchant Services also teams up with ROAMpay Data to provide the Android credit card reader, which plugs directly into phones via the headphone jack. The devices' magnetic strips can read both credit and debit cards.
Transaction Features: The service provides recurring billing options, the ability to accept tips and the chance to use saved customer data for future marketing campaigns. Leaders also strictly follows the security guidelines defined by the Payment Card Industry to minimize the impact of credit card fraud and to keep merchants and customers safe.
Intuit Merchant Services
Inuit Merchant Services was given this year's TopTenREVIEWS Bronze Award for its low pricing, top transaction features and ability to integrate with Intuit's QuickBooks accounting system. Intuit's GoPayment service allows businesses to accept payments on all Android phones.
Pricing: There are no fees for setting up the account or the Android card reader itself. In addition, there are no transaction fees, except for American Express sales. Unlike its competitors, Intuit offers flexible payment choices, including aflat monthly service fee or a pay-as-you-go option. For businesses that choose a monthly service fee, the average rate for swiped transactions is 1.75 percent and 2.75 percent for keyed-in transactions. Businesses that select the pay-as-you-go option pay 2.75 percent for card-present sales and 3.75 percent when the card is not present.
Hardware and Compatibility: In addition to working with Android phones, Intuit's GoPayment service is compatible with iPhones, iPod Touch devices and iPads. However, Blackberry devices are not supported.
Transaction Features: Intuit's GoPayment allows users to see transaction details from within the app, add sales tax automatically based on their location and void transactions when necessary. The GoPayment app is password protected, and all transaction sessions are encrypted.
Originally published on BusinessNewsDaily.