Credit Card Processing

Credit Card Processing

How to Implement Mobile Credit Card Processing

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In the past, credit card payment processors required cumbersome terminals and merchant accounts with hefty fees. Today, thanks to modern technology, it's possible for many companies to implement mobile credit card processing within key divisions of their business.

All you need to receive mobile payments in the field is a compatible smartphone and a dongle from the merchant provider. In many cases, the merchant provider will provide you with a free mobile card reader upon request, and additional readers can often be bought at relatively nominal rates.

The ability to accept credit cards in the field is a vital feature because so many customers today choose to pay with plastic instead of cash. When you meet a prospect, if they are immediately sold on your product, would you rather seal the deal immediately, or wait for a check in the mail? In some cases, the customer might simply move on to a competing vendor if he or she can't close the deal right away. This extends across a variety of industries: Consumers expect a smooth, seamless process, and wise businesses will find a way to give it to them.

Features to expect

When you choose a mobile payment provider (leaders in the field include Sage Software, National Bankcard, Data One, and First Data, among others), some of the most important features to look for include:

Although mobile payments were developed primarily for business professionals to take credit card payments while on the go, another advantage is that businesses are now able to forgo expensive point-of-sale (POS) systems and instead use tablets and even smartphones to process payments.

Key considerations

When evaluating mobile credit card processing providers for your business, consider these points before making a final decision:

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