5 reasons mobile credit card processing is good for you

5 reasons mobile credit card processing is good for you

Mobile credit card processing has made it easier for people to do business outside of bricks-and-mortar stores. This new technology uses software applications, or apps, to make an iPhone, iPod Touch or another mobile device a credit card processing terminal. Merchants can benefit in a variety of ways from this new method of collecting funds.

1. Increased sales. Different types of industries are increasing sales by switching over to mobile credit card processing. Customers don't always carry cash on them; offering them another method of payment can boost sales. Offering a convenient and easy way for them to pay will also keep them coming back.

2. Portability. You will have the ability to accept credit cards anywhere you do business. Installing an app on your iPhone or iPod Touch is also much easier than having to transport additional hardware. Plumbers, electricians, carpenters and delivery drivers are just a few examples of those who can benefit from accepting credit cards on location.

3. Secure transactions. Your data is securely transmitted when you're on the go. Checks can get lost while on the road or credit card numbers can be seen and exchanged by multiple people. This sensitive information used to be written down and manually keyed in when merchants went back to their offices. Customers can feel safe knowing that their information is securely transmitted, and merchants have reduced cases of chargebacks and fraud during processing.

4. Fast processing. Depending on your merchant account, most applications are approved on the same day or during the next day. It is quick to set up an account and you can get your funds transferred to your bank instantly or within a few days.

5. Low cost. Some mobile credit card processing services do not have contracts, termination fees or monthly minimums. This is a great option for businesses with a low volume of credit card processing. There is also no need to purchase expensive wireless credit card processing terminals with high interchange fees.

Published: June 10,2023