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Merchant Account and Credit Card Processing
Mobile Processing
Mobile Processing
Mobile Processing is one of the most rapidly expanding fields in the electronic payment industry. Mobile processing allows merchants to accept transactions via their iPhone, Droid, Blackberry or other smart phone device. When combined with an electronic strip reader, these have become viable options to take swiped transactions from anywhere you have cell phone service, without the traditional drawbacks of wireless credit card terminals. Or used alone they can take keyed transactions from anywhere at any time.
Some advantages of mobile processing include:
Accept payment anywhere – wherever you have cell phone service, you can accept a payment.
Swiped and keyed entry - can be combined with a card reader for swiped transactions or manually keyed transactions. Swiped transactions are less expensive to accept than keyed transactions typically by at least .5% discount rate.
No need for separate equipment – for keyed transactions there is no additional equipment required, and for swiped, all you need is a compact card reader that plugs in to your phone. No need to purchase and carry a whole separate machine
No need for additional service contracts – Wireless terminals come with activation fees and monthly usage fees per terminal. When you process via your cell phone you can avoid these fees.
Mobile Processing w/POS features
In other settings, iPad and the iPod Touch have began to fill the niche of local mobile processing. Local mobile processing is an intermediary form of mobile processing when utilized in conjunction with a Wi-Fi network and card reader.
These devices can be used for much more than just transaction processing. They can remotely communicate with a POS system over a limited radius in order to provide a number of other inventory and order processing functions. Some examples are:
Wait staff at restaurants can send orders directly from the table to the kitchen without having to enter into a POS station. Payment (cash or credit) can as well be processed right from the table.
In retail settings , bar code scanners can be combined with these devices to scan items and if needed make sales directly from the sales floor. As well allows for inventory management.
And the best part is these systems can be put in place with just a few hundred dollars worth of equipment and often cost under $20 per month! Compare that to POS systems that can cost thousands to purchase and install and require hundreds of dollars per service call to maintain and repair. Which would you rather have your business be reliant on?
