An Introduction To Mobile Credit Card Processing

What are the most common mobile payment solutions you can use for your business operations? Since there are several ways you can pay using your mobile device, let’s see which methods mobile credit card processors offer and which ones are best for different business types. 

• Mobile credit card readers: this is usually what people think when they mention mobile credit card processing. Business owners can get a card reader so that customers can use their credit and debit cards to pay.  This point-of-sale system is increasingly popular since it’s so convenient and works great for both merchants and customers. In some cases, merchants can use an app to process payments instead of a physical card reader. 

• Mobile eCommerce: one of the most common mobile payment processing solutions is eCommerce, used for customers who want to shop online and pay for their purchases made on websites using their mobile devices. These payments can be through apps or mobile sites and are usually secure transactions that make it very easy for customers to shop. Most businesses create their sites so that they can boost sales and increase the convenience for the customers. The customers enter their details into secure payment gateways, meaning that the process is fast and straightforward. 

• P2P mobile payments: peer-to-peer payments aren’t necessarily of interest for mobile merchant services since they include platforms like Venmo and Google Wallet. P2P is generally used between friends and family members. In some cases, people use this method to pay at pop-up stores and similar settings. 

• In-store mobile payments: this is an in-store payment method when the customer pays using a mobile device with contactless technology. This avoids direct card payment and using a card reader and speeds up the entire payment process. 

How can you find the best mobile payment processing service for your business? Choosing a processor can be very tricky since there are many options available on the market. Aside from keeping your account safe, the processor should offer low transaction fees. If you’re a high-risk merchant, choosing great payment service providers can help you get the account you need. High-risk businesses often find it hard to open any type of account due to the nature of their business. 

The processor you’ll choose has to offer an affordable package and low fees. Aside from the decent credit card processing fees, you also need to take a look at all the other fees that are a part of the agreement. You also need a service that will guarantee the safety of your data. Since many high-risk businesses are refused by banks due to fraudulent transactions, that’s something you want to avoid at all costs. The processor should offer safety for all the transactions and keep the privacy of your customers. A data breach is a serious problem for any business; therefore, you have to be very careful with your choice.