If you’re a small business owner, you know how important it is to be able to accept credit cards. Large businesses have the luxury of being able to pay for expensive point-of-sale systems, but smaller businesses often have to make do with less sophisticated and more expensive methods of credit card processing.
Mobile credit card processing is a great solution for small businesses. It’s convenient, it’s relatively affordable, and it allows you to accept credit cards anywhere you have an Internet connection. In this article, we’ll give you a detailed guide on mobile credit card processing so that you can decide if it’s the right solution for your business.
What is Mobile Credit Card Processing?
Mobile credit card processing is a way for businesses to accept credit cards using a mobile device, such as a smartphone or tablet. There are a few different ways to do this, but the most common is to use a card reader that attaches to your mobile device.
When you use a mobile credit card processor, you’ll typically be charged a higher transaction fee than you would with a traditional credit card processor. However, the convenience and flexibility of mobile credit card processing can be worth the extra cost for many businesses.
Mobile Credit Card Processing Options
There are a few different options available for businesses that want to start accepting credit cards using a mobile device. The two most popular options are Square and PayPal Here.
Square is a popular option for businesses that want to start accepting credit cards without a lot of upfront costs. There’s no monthly fee to use Square, and you only pay per transaction. Square also offers a free card reader that plugs into your mobile device’s audio jack.
PayPal Here is another popular option for businesses that want to start accepting credit cards using a mobile device. PayPal Here has a slightly higher per-transaction fee than Square, but it doesn’t have any monthly fees. PayPal Here also offers a free card reader that plugs into your mobile device’s audio jack.
In addition to these two options, there are a few other mobile credit card processors available. Each has its own pros and cons, so be sure to do your research before choosing a processor.
Mobile Credit Card Processing Fees
As we mentioned earlier, you’ll typically pay a higher fee to use a mobile credit card processor than you would with a traditional processor. The exact fee will vary depending on the processor you choose, but it’s typically around 3% of the transaction amount.
For example, if you process a $100 transaction using a mobile credit card processor, you’ll likely pay a fee of $3. This may seem like a lot, but it’s important to remember that mobile credit card processing is convenient and flexible – two things that are worth a lot to many businesses.
Is Mobile Credit Card Processing Right for Your Business?
Now that you know more about mobile credit card processing, you can decide if it’s right for your business. If you need a flexible and convenient way to accept credit cards, mobile credit card processing is definitely worth considering. Just be sure to compare processors and fees to find the best solution for your business.
We hope this guide has been helpful. If you have any further questions about mobile credit card processing, feel free to contact us and we’ll be happy to help.