How to Accept Mobile Credit Card Payments from Anywhere

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Mobile credit card readers help your business accept payments anywhere.

  • Small businesses can increase sales at events by using a mobile credit card reader, but not every brick-and-mortar company requires one.
  • When buying a mobile card reader, keep costs and security precautions in mind.
  • Customers may pay more conveniently with mobile credit card processing, which might give your company an edge over rivals.
  • Small company owners that are interested in learning more about mobile credit card readers should read this article.

Small businesses respond as customers take action. Small businesses are turning to mobile credit card readers to make it simpler for clients to pay from anywhere with just a swipe because they want to make transactions quickly and easily.

Processing transactions is simple whether you’re at a conference, a client’s remote office, or just at home when you pair your smartphone or tablet with a credit card reading add-on. Even better, you may use your mobile smartphone and mobile credit card reader to bring your goods to trade events and collect payments there.

Since your mobile phone and the add-on gadget take up very little room and can help your business generate revenue, you don’t need to bring a big credit card terminal or machine to every event. It’s a straightforward procedure that makes accepting payments simpler for small businesses.

What is a mobile credit card reader?

A mobile credit card reader is a device that you attach to your smartphone so that your phone can act as a credit card reader. These devices enable payment through traditional credit card swipes, chip payments or contactless payments.

How do mobile card readers work?

A SIM card that enables wireless connectivity with the mobile network is pre-installed in mobile card readers. The device employs GPRS technology to process the payment after reading the customer’s card data by getting in touch with the bank that issued the card to request authorization.

The machine’s built-in printer will provide a customer receipt after the payment has been authorized and the sale has been completed.

How to accept credit card payments on your phone

For businesses searching for a simpler way to accept credit cards, the market is flooded with an overwhelming variety of solutions. It’s not particularly difficult to learn how to accept credit card payments via mobile devices; however, you must first be familiar with the procedure and the major market players. When looking for the ideal mobile card reader for your business, it’s crucial to take the required precautions. The steps consist of:

1. Own a business.

Although it might seem simple, most mobile credit card payment companies demand that applicants produce proof of their business before they are allowed to register for the service. The fact that these platforms were created with small businesses in mind is wonderful news for business owners.

This means that almost any business, regardless of size, can be certified, regardless of whether you run a handyman business, own a boutique, or sell wool socks that you make in your spare time. Although businesses that travel or conduct events gain the most from a mobile credit card processor, other types of businesses can also use it.

Nathan Grant, a credit industry analyst at Credit Card Insider, said that while brick-and-mortar stores should still take into account mobile processors if they want the option of accepting payments away from the cash register as well. “Small business owners, street vendors, and businesses that set up at events throughout the year can benefit greatly from mobile processors,” Grant added.

Small businesses stand to gain the most from using mobile credit card readers because they are less expensive and far more portable than conventional solutions. Businesses that do not take credit cards are almost certain to lose some business.

If you run a small business, you’ve already completed the first step in getting a portable credit card reader. Again, it may seem basic, but you must abide by the regulations if you want to receive a card reader.

2. Pick a mobile device.

You will want at least one mobile device that is suitable before purchasing a mobile credit card reader. Don’t worry though, there are alternatives for almost all mobile operating systems, such as iOS, Android, BlackBerry, and Windows Phone.

Modern credit card readers have the primary advantage of working with the gadgets you currently own. This implies that, aside from the reader add-on itself, there is no need to carry about any more hardware. Most credit card readers are small enough to fit in your pocket and connect to your device via the headphone jack or charging port.

Many services allow users to make a transaction by manually entering credit card information into any internet-connected phone if they’d want to handle payments without a separate adaptor. However, the majority of small businesses should invest in a card reader add-on for the purpose of convenience, lower costs, and privacy.

A smartphone app is necessary to use some services. You can use the mobile credit card reader or an internet-connected mobile device properly after downloading that software. Be cautious to understand what services you’re obtaining because each company uses its payment gateway in a somewhat different method.

The majority of devices accept both debit and credit cards, but it’s a good idea to double-check with the business before buying the processor just to be sure. It’s good to make sure there aren’t any additional difficulties when using different card types because some clients might want to pay with a debit card. Using a debit card may potentially result in a different payment procedure. To better comprehend the prospective consumer experience, make sure you are familiar with the nuances of each payment method.

3. Pick a credit card processing company.

The hardest aspect of the procedure is picking the best service for your company. The initial expenses, fees, and compatibility must all be addressed in your business plan.

Competitive transaction costs, a quick and hassle-free application process, and a high acceptance rate are all features of the top credit card processing businesses. Although many of the top services provide comparable functionality, prices and other charges differ greatly. Key also lack some fundamental capabilities, such as the capacity to record a written signature or cancel transactions right from your mobile device.

According to Grant, the costs and fees involved vary depending on the types of payments you wish to be able to take for your business. “The main distinctions between standard processors and mobile processors are the charges and fees related,” he stated.

Fees are a crucial factor for small enterprises. Offering transactions via mobile credit card readers will your business save money, or will the convenience for clients affect the business’s financial health? It might be worthwhile to use more conventional credit card processing options if your company is unable to employ a mobile credit card reader.

For small businesses concerned about the costs of a mobile card reader, Grant provided this advice: “Consider setting a minimum payment for credit purchases if you want to be able to offer mobile payment methods but worry it could eat into your business.”

Let’s imagine you’re the owner of a neighborhood candy store and you’re at a downtown gathering. If a consumer wishes to use a credit card to make a transaction, you might want to consider setting a minimum of $10. This will ensure that only customers who spend $10 or more on merchandise at the event will be charged for using your mobile card reader. All transactions under $10 are cash only. There are ways to get around fees if they’re an issue so your firm can benefit more.

It’s crucial to consider the fees each company gives when choosing the best credit card processing service. It’s also crucial to consider the many features that every business provides. Make a choice for the credit card processing provider that most closely matches the requirements of your organization. Our top choice for the credit card processor with the most features is Merchant One.

4. Secure your device.

Take a moment to check that your device is secure and that all software is up to date before processing your first credit card payment. This includes making sure your mobile operating system has the most recent upgrades loaded.

Install programmes only from reliable sources. While programmes downloaded from other websites on the internet might not be safe, those from the Apple App Store, Google Play, BlackBerry World, or Windows Phone Store are likely fine.

Consider keeping the device you use for mobile transactions locked with a password throughout business hours. You can relax knowing your data is secure if the device is lost or stolen. Data security is a frequently disregarded component of employing mobile credit card readers, but businesses should give it serious consideration.

The repercussions of a mobile card reader breach could harm the reputation of your small business. Always strive to keep consumer data safe. 7-Eleven Japan recently experienced with a problem with processing mobile payments. The business released a mobile payment app, but due to a bug, a hacker was able to make payments totaling $500,000 on the cards of about 900 consumers. When receiving payments via your mobile device, security need to be your top concern.

5. Set up shop.

You are nearly there. When you sign up for a service, the majority will send you a free card-reader attachment for your mobile device. You’ll most likely need to download an appropriate app for your smartphone after receiving your reader.

Although each app is unique, most need to be set up. You’ll probably be able to choose, among other things, whether to ask users for their email addresses or to display a field for tips.

Test the credit card reader before the event if you plan to use it as your primary method of accepting money. A negative event would be missing out on sales because your payment processor wasn’t configured properly. By taking the time to correctly set up and test your gadget before receiving payments from clients, you may avoid that irritation. Ensure that clients can pay with no problems.

6. Promote your new mobile credit card payment option.

If no one is aware of a new mobile payment option, what good is it? If potential customers believe your company isn’t set up to handle credit cards, they might avoid doing business with you. You want people to understand how simple it is for them to purchase your goods.

Affirm that you are now accepting credit cards. And if clients come into your establishment, display a notice outlining the new payment choice.

Additionally, you can utilize your website and social media accounts to disseminate information, particularly if you plan to attend events or trade exhibits. Tell attendees that you’ll be taking credit cards during the event to attract more people.

The bottom line

Businesses that routinely organize or attend events may consider investing in mobile credit card readers. Examine overall pricing, fees, and security measures when choosing the best mobile credit card processor for your company.

Making it simpler for customers to pay from any location is the main objective of accepting credit card payments on your mobile device. Your company will be in good shape if you keep that objective in mind as you work to cut costs and improve data security.

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