The ability to process credit cards using a mobile device is gaining well-deserved attention across the credit card processing industry. Joseph Brady, an avid entrepreneur in various industries since 2006 and featured writer for BizOffice.com, recently updated business owners on the available mobile processors.
Square Credit Card Processing, the major name in mobile credit card processing, has gained a large following since Jack Dorsey the co-founder of twitter also became a founder and CEO of Square. Receiving slightly less press but nevertheless major players in the mobile processing world, Pay Anywhere and Inuit GoPayment are making major strides to accommodate their customers.
Brady ranks Pay Anywhere as number one for mobile payment solutions “with no startup costs, monthly minimum, monthly service fee, competitive rates, multi- device platforms, and very few complaints with the Better Business Bureau Pay” (http://www.bizoffice.com/top-three-mobile-payment-solutions). The swiped rate with their free credit card reader is 2.69%; keyed transactions are priced at 3.49% and $0.19 per transaction.
Intuit GoPayment, listed second for mobile processing solutions by Brady, is a reliable source for both Android and iPhone devices. The benefits for Inuit GoPayment match Pay Anywhere for the most part; Brady finds their competitive edge in their service for both low and high volume merchants. Brady suggests those who process a low volume seriously consider Inuit since no “monthly minimum opens up the market of people who would like to process cards from time to time but not enough to justify the monthly fees that come along with a typical merchant account.”
Compatible with Android, iPad and iPhone devices, Square is rated third because of the degree of restrictions it places on its users. Square lacks customer service and keyed transactions, a constant necessity when swiping falls, is placed within a monthly minimum. Exceeding that minimum results in keyed transactions funds being held for thirty days, a major hindrance to up and coming businesses.
Mobile payment solutions are hitting the processing industry with force. The convenience for customers to pay and quickly have businesses run their credit cards is beneficial on both ends of the payment. Brady’s insight into the mobile processing world is highly appreciated. His ideas in full are found on the Biz Office website at http://www.bizoffice.com/top-three-mobile-payment-solutions.