Technology is the backbone to a thriving economy. It allows for greater access, especially in developing nations where physical cash and credit cards are not an option and technology infrastructure is scarce. The mobile payment processing industry has seen tremendous growth over the past few years as more people become comfortable with using their smart devices to make purchases online or offline without needing any type of card.
The “best mobile credit card processing” is a service that allows merchants to accept credit cards from their customers. The service is available for both online and brick-and-mortar stores.
Plastic payments have been a tricky issue for small companies for years. Plastic is becoming more popular as a method of payment, and it is becoming increasingly anticipated that you provide it as an option. Credit cards, on the other hand, come with complicated hardware configurations, expensive contracts, gateways, and support networks. It was an untenable scenario for small firms on a short budget.
Fortunately, there is now an answer. Small companies may accept credit card payments with the use of mobile card readers, which are very low-cost. We chose the finest among five main brands of mobile credit card processors. Here is the full text of our review. Start here if you want to learn more about picking a POS system.
We looked at five different payment processors.
Square was one of the first mobile CPUs to gain traction with consumers. It was created by Twitter co-founders Jack Dorsey and Jim McKelvey, and it prides itself on its simplicity and ease of use, which it typically achieves. It features a very straightforward price structure, a beautiful, practical, and self-explanatory user interface, and it’s quite compact and portable. Square’s software provides a straightforward, uncomplicated user experience, which is ideal for busy small company owners who don’t have time to learn a new system.
picture courtesy of square.com
Square is very much compatible with any Apple device running iOS 6.0 or above, starting with the iPhone 3GS. In terms of Android, 4.0 and above is the norm, and Square maintains a list of devices that are known to operate as well as a list of devices that are known to have issues on their website.
Square, on the other hand, has two reoccurring issues: a lack of customer support and the freezing of cash. To begin with, kids simply have access to online assistance. While there is a hotline, getting through to a live person is tough, and there isn’t the same extensive support community as other mobile processors.
Square’s second issue is that, since it’s so simple to put up, it’s also quite easy to abuse. As a consequence, they are a bit more aggressive in freezing cash for suspected activities than other firms. When these issues are combined, Square customers’ assets are at risk of being frozen, with no one to contact to find out why. Here’s a quick summary of Square’s features:
- Signing up is completely free.
- There are no transaction rates that are too low or too high: Square doesn’t mind whether you process $1 or $1 million.
- Multiple accounts are possible.
- Tablet devices have no decreased functionality.
- Sales summaries and QuickBooks/Xero connectivity are included in Square Analytics.
- Pricing structure that is transparent
- 2.75 percent each swiped transaction, every Square Sites sale, or per Square invoice paid.
- 3.50 percent plus 15 cents every transaction manually input
- Invoices that have been paid in full: 2.75 percent
- There is no chargeback fee.
- The following working day, your transactions will reflect in your bank account.
- The setup is simple and quick.
- Within seven to ten business days, the Square Reader will come in the mail.
- From the iPhone 3GS forward, the majority of Apple devices
- iOS 6.0 must be installed on Apple’s devices.
- Android 4.0 or above is required.
- Headset jack with microphone (3.5mm)
- Location services are now available.
- Internet access is available.
They’re more costly per unit, and they continue to have issues with overzealous anti-fraud procedures and bad customer service.
2. GoPayment by Intuit
With GoPayment, Intuit, the company behind QuickBooks, joined the mobile processor market. GoPayment’s fundamental concept is to bridge the gap between small and aspiring entrepreneurs and the larger world of merchant accounts. As a result, they vary from other mobile CPUs in many key aspects.
To be a GoPay-er, you must have an Intuit merchant account. This isn’t exactly a negative thing, but it does mean that their setup procedure is a bit more difficult; however, if you’re already a QuickBooks user, you’ll be up and running “in seconds,” according to the GoPayment website.
GoPayment’s price structure is even more convoluted. The first option has no monthly costs but higher transaction rates; the second option has reduced transaction fees but a monthly payment. In addition to a portion of whatever you sold, they charge a predetermined fee every transaction. This, too, varies depending on the plan (as seen below).
All of these facts hint to a variation in organizational structure. GoPayment is a more professional organization, with a banker’s approach to mobile processors, as opposed to Square’s more casual attitude.
Both organizational mindsets have virtues; it just depends on who you wish to collaborate with. A good example is the cancellation policy. When you cancel Square, you simply stop processing transactions. If you’re with GoPayment and have the pro plan ($19.95 per month), you’ll need to submit a letter or fax to the company requesting termination. If you don’t, you’ll continue to lose twenty dollars every month.
- Option for high-volume pricing
- Accepts all major credit cards, even those from other countries.
- QuickBooks connection is seamless.
- Up to 50 people may utilize it.
- In addition to phone customer care, there is online chat, FAQs, and other help.
- SMS invoicing and customised invoices with your business name and logo are examples of invoicing services.
- Option 1: Basic
- Per swiped transaction, 2.40 percent + $0.25
- Per keyed transaction, 3.40 percent + $0.25
- Non-qualified transactions incur an additional $0.15 transaction charge.
- Batch cost of $0.20
- Option 1:
- The monthly charge is $19.95.
- Per swiped transaction, 1.75 percent + $0.25
- 3.15 percent plus $0.25 each transaction typed
- Non-qualified transactions incur an additional $0.15 transaction charge.
- Batch cost of $0.20
- Remember that the basic option is the most cost effective unless you’re doing $3,500 or more each month.
- For shady merchant behaviour, GoPayment maintains the right to charge clients $500.
- If you’re already an Intuit client, it’ll happen quickly; if you’re not, it’ll take a bit longer.
- Setup is free if you’re a new client.
- If you’re a repeat buyer, you’ll need to purchase the $50 swiper.
- Within five to seven days, swipers come.
- iOS 6.0 or above is required for Apple devices.
- The majority of Android smartphones running OS 2.2 or above are OK, however there are a few exceptions.
- They contain long lists of devices reported to have compatibility concerns, including Windows and BlackBerry smartphones. They do say, though, that while certain devices aren’t supported, it’s worth trying out the app to see if it works.
Despite the allure of Integration with QuickBooks, their opaque pricing scheme and per transaction costs are more likely to hurt small companies than benefit them.
3. You Can Pay Anywhere
PayAnywhere is a very standard mobile payment processor. Their prices, security, compatibility, setup timeframes, and customer service are all on par with the industry standard. They offer a single price mechanism for mobile processors, comparable to Square or PayPal. Mobile shops feature a distinct price structure, with reduced per transaction fees but a monthly cost. The funds are deposited into your account the next business day.
PayAnywhere complies with PCI standards and provides end-to-end encryption. However, it does not explain how it does this. PayAnywhere, on the other hand, is likely to have the same amount of security as any other mobile processor. User evaluations, like Square’s, claim that their anti-fraud initiatives lead to excessive freezing of funds, resulting in a negative user experience.
They claim that customers may “start taking credit cards in less than five minutes” after completing their setup. That’s really quick—if it’s accurate—and might be a sign of their cash-flow troubles (similar to Square).
PayAnywhere’s customer service and personalization will set them apart; they provide 24/7 phone customer service, as well as online chat support, FAQs, a YouTube channel of assistance videos, and a dedicated Twitter account, and claim to be the most responsive staff in the industry. Unfortunately, review after review complains about the confusing structure and excessive wait times. With so many channels, though, most fundamental inquiries should be answered.
PayAnywhere provides an API that allows you to simply integrate their payment system into your website, centralizing all of your sales (and sales data). It’s a useful tool, but not a game-changer. Finally, PayAnywhere provides a storefront package that contains everything a small company needs to have their PayAnywhere shop up and running.
- Analytics inside the app
- A picture of the goods and a description are included on receipts.
- PayAnywhere can keep track of tips and taxes.
- Integration with QuickBooks
- Inventory on the internet
- All major credit cards and PayPal cards are accepted.
- 2.69 percent erased
- 3.49 percent plus $0.19
- Chargeback fee of $25
- Non-Sufficient Fund (NSF) fee of $25
- Every time a consumer requests a sales receipt for a specific transaction, there is a $15 retrieval charge.
- According to the website, this may be done in about five minutes.
- iOS 7.0 or later is required.
- iPhone 4 and later, as well as all iPads
- Android requires Android OS 4.0 is the latest version of Android. or above, a 3.5mm headphone port with microphone, a regular or big screen size, and access to the internet and location services (they have a list of compatible devices on their website)
When things go wrong, which appears to happen rather often, there are a lot of unfavorable complaints concerning their customer support.
Flint Mobile is number four.
Flint Mobile has taken a new approach to business. Instead of offering a complimentary card swiper, they ditched the device entirely, deciding to scan credit cards using phone cameras instead. There is no reduction in security, and they continue to provide accounting connectivity, a superb user interface, as well as invoicing and tracking for other businesses.
picture courtesy of appadvice.com
They may, however, undercut the market’s transaction rates owing to the substantial cost savings of not creating card swipers, which they do with zeal. They only took VISA and MasterCard at the time we published this post, but they’ve just added Discover and American Express to the mix, making them more competitive. They do, however, have certain strict guidelines: no more than $1,000 every scanned transaction, $500 per written transaction, and just $1,000 per day and $2,000 per week. After that, any money will be retained for 30 days. With a modest credit check, you may, nevertheless, boost those.
- Setting for card scanning that may be customized
- Analytics inside the app
- QuickBooks integration
- There may be up to nine distinct users.
- Most major credit cards are accepted.
- For debit cards, the fee is 1.95 percent each transaction.
- For credit cards, the fee is 2.95 percent per transaction.
- Without having to wait for a swiper to come, you may get started right away.
- It takes a few days for the minor credit check to increase your Flint credit score.
- On iPhones 3GS and above, iOS 6.0 or higher is required.
- Android OS 4.0
It’s a bit constricting not to be able to upgrade to a larger POS system. However, the business model is a brilliant concept that keeps more money in the wallets of enterprises.
5. Click Here to Use PayPal
picture courtesy of paypal.com
PayPal’s entry into the mobile processor market was a significant step forward for the online eCommerce processor. Their UI is recognizable, and their reputation is respected for its security, with powerful systems and 110 million active accounts (despite some complaints in recent years). PayPal Here (PPH), a mobile card reader for Android and Apple, is their first foray into the mobile market.
PPH connects to your smartphone through a headphone connection and allows retailers to conduct credit card, cheque, and debit transactions fast and effortlessly. PPH is free and simple to establish up, however they do examine your company, including your account history, credit check, and a review of your business concept. This is a very high-level process that is nearly totally automated, and 90% of cases are accepted immediately. However, it might take up to two days.
However, if you already have a PayPal business account, the setup is a little annoyance. The funds are immediately accessible, and if you have a PayPal debit card, withdrawing real cash from an ATM is a breeze. When you swipe your card through the PayPal card reader, the money are instantly accessible. You may get up to $4,000 instantaneously from credit cards you enter in or scan using your phone camera, and the remainder is retained for 30 days. This is a precautionary step, since credit cards that are typed in have a greater fraud rate. The amount you have accessible right away is determined on the results of your credit check. Here’s all you need to know about PPH.
- Signing up is completely free.
- Processing capabilities include checks, cash, credit cards, and debit cards.
- Support is available online, via support forums/communities, and by phone.
- There are no commitments or cancellations.
- Within a week, the majority of users will be accepting transactions.
- Existing PayPal customers will find the UI to be incredibly user-friendly.
- Several users
- Sales reports by date, person, payment method, and products bought are available.
- 2.70 percent card swipe (U.S. cards)
- 3.50 percent + $0.15 for card key-in or scan (U.S. cards)
- Rates on international cards are 1% higher, thus 3.70 percent and 4.50 percent, respectively.
- Checks are free of charge.
- Chargeback fee of $20 (this is refunded in the case of customer error)
- A credit check might take up to two days.
- The card swiper might take up to a week to arrive. You can get it for $14.99 at places like Staples and Office Direct, and PayPal will pay you.
- You must first get the PayPal App from either the Google Play or Apple App Store (it is free).
- iOS 5.0 is available on iPhone 3GS and later, as well as iPad devices.
- Android 2.3.3 (Gingerbread) or later is required.
- Headset jack with microphone (3.5 mm)
- Location-based services are supported.
- Internet access is available (via WiFi or cellular data network)
- A number of Android tablets
Overall, because to its age, PPH is a reasonably priced alternative with a more robust system than its rivals. Customer service and the variety of payment options it takes are its key selling points.
The winner is…
PayPal Here is the obvious victor among the mobile payment processors we looked at. Because that is what it all boils down to for small enterprises. Customization and letter-headed receipts are excellent features. But actually, all you have to do is take payments from your consumers and put as much money in your pocket as possible. PayPal Here is the obvious winner, with competitive price, quick acceptance of any payment option, and easy connection with the rest of the PayPal empire.
What is your preferred mobile payment processor? Have you had any positive or negative encounters with them? Please let us know in the comments section.
Watch This Video-
The “free mobile credit card processing” is a service that allows users to create and process mobile payments. This service has been widely used by many businesses because of its ease of use, reliability, and low fees.
Frequently Asked Questions
What is the fastest payment processor?
A: We recommend using Paypal.
Which online payment system is best?
A: PayPal is the best online payment system.
Is square the best?
A: I do not know if square is the best because there are many different shapes that can be used to make a rectangle.
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