The game of credit card processing has reached new levels since mobile credit card processing became available.
The first time I witnessed a mobile card swiper was at an estate sale. I made sure prior to going to the sale to stop at the ATM and pad my wallet with plenty of cash.
After perusing and selecting several furniture items, I made my way to the makeshift checkout desk they had set up in the living room. The woman added up the amounts and gave me my total.
As I was reaching into my pocket to retrieve cash, she asked if I would be paying by card or with cash.
I stuttered, somewhat confused, and asked “Can I?”
She smiled and said “Can you what? Pay with your card? Yes.” She then produced her smartphone with a little attachment on the top.
I was intrigued and although I was completely prepared to pay cash, I gave her my card instead. I really wanted to see how this was even a possibility.
She took my card, slipped it through the little attachment (which I quickly figured out was a magnetic stripe reader), punched a few buttons and then handed me back my card.
There have been very few things in my everyday adult life which have really amazed me, and this was one of them.
Of course the type of card swiper attachment she used isn’t the only type of mobile credit card processor available. But it is one of the coolest for sure! I would argue it is also one of the easiest too.
And these mobile payment machines are far more prevalent these days, what with a PayPal or Square mobile phone card swiper (or a RedFynn one) just a couple of days away by mail.
If you are a business owner who makes a lot of house calls or maybe you own a food truck, this form of payment system is perfect for you.
It transforms your business from a one-dimensional, “cash only” mobile business into a mobile payment processing machine!
People like having the option to pay however they choose. And let’s be honest, these days most people prefer to pay with a credit or debit card. It’s quicker, easier, and helps them keep track of their spending.
Cash is King, yes, and a lot of people carry around cash in their pockets in addition to their plastic. But this doesn’t mean they should be pigeonholed into only paying with cash. They should have the choice.
You, as a smart business owner, understand this and want to provide them the convenience of paying with their card no matter where they are purchasing items from you.
Do you travel to your clients’ homes to provide professional services? You can now process their payments right there in their living room with one of these mobile card processors.
All you need is a card reader or swiper, an internet connection, and payment software installed on your device. Most software lets you email them their receipt.
How convenient is this for you and your customers? They don’t have to worry about making sure they have cash on hand to pay you, and you are better able to keep track of your accounting.
There are a lot of different mobile credit card processing services out there for you to choose from. Each one has their own fees associated with the services they provide.
Their fees are usually determined by a few different factors. The size of your business being one factor considered, as well as the amount in payments you accept in a given time.
Many of these services charge a flat percentage fee per transaction. This fee is in addition to whatever fees the credit card company or bank associated with the card charges. Just as with payment processing with stationary terminals, the fees vary depending on the type of card.
You’re bound to have a payment disputed by a customer eventually. The reasons for a payment being charged back vary and often are due to customer dissatisfaction, non-delivery (or late delivery), fraud or technical errors.
Some mobile credit card processors charge a fee for these chargebacks and some do not. It probably isn’t too much of a concern for your business if you rarely experience chargebacks.
These charges are typically within the $10-$25 range. Refunds are typically free, but chargebacks (initiated by the customer and/or his bank) cost money.
It is important to find out what the application fees, setup fees, and cancellation fees are for mobile services, as these tend to be the most significant costs to you.
Mobile credit card processing is really no different than traditional “in-store” credit card processing except for the actual hardware involved. You’re still logged into the Internet, either through Wi-Fi or your phone’s data service. You still use a payment gateway which you get through a merchant service. But you can swipe/dip a card from anywhere!
Mobile payment processing has proven to be a very convenient and useful tool for business owners who are constantly on the go and do most of their business (if not all) from the road.
Check out RedFynn’s mobile credit card processing programs and compare our low costs to other business ballooning services available. I think you’ll agree we offer some of the best, most competitive rates available and our customer service is second to none!
Give us a call at (888) 510-9871. We can’t wait to answer any questions and help you fulfill your mobile processing and business goals!