Credit card processing is a powerful functionality for modern-day merchants. Instead of making investments in the otherwise expensive Point of Sale systems, feature-rich credit card processing apps function on tablets or smartphones,enabling merchants to leverage cost-effective hardware and an affordable software fee.
If you have recently started a new business that processes less than $3,000 every month, a mobile-based credit card processing solution can serve as your best payment processing method. Mobile-based credit card processing is also an excellent option for sole proprietors, seasonal businesses, and freelancers.
Why Use Mobile Credit Card Processing Apps?
In the modern era, a number of businesses have started relying solely on mobile-based credit card processing solutions in the form of applications for Android and iOS devices as the sole means of accepting credit cards. It serves to be a highly cost-effective way to ensure card payments for specific business types -individual contractors, trade show vendors, single-register locations, and so more. Still, high-volume businesses and large-scale enterprises will be effectively served by leveraging a mobile-based payment app as a backup processing option.
In most cases, a mobile-based credit card processing app will help your business save ample money as you will pay a processing fee for every transaction -nothing more. There are no annual or monthly fees or long-term contracts. You will also come across minimal equipment leases. To get started with a reliable credit card processing app, you need access to a dedicated card reader and an application that can be used on a tablet or a smartphone. As your business grows, you can think of adding accessories.
Best Apps for Mobile Credit Card Processing
As a business, if you are processing over $3,000 every month or require a dedicated merchant account, go through our reviews of the best mobile-based credit card processing apps.
Host Merchant Services
Host Merchant Services offers access to payment processing solutions that your merchant business requires. You can access full-range merchant services and payment systems for different types of businesses. With Host Merchant Services (HMS), you can get a dedicated credit card processing system that can be easily customized for POS (Point of Sale), mobile, and e-commerce credit card processing.
The merchant account provider also helps minimize your merchant service fees while significantly improving the overall customer services. You can choose from a wide range of mobile credit card processing solutions with Host Merchant Services -right from retail processing to restaurant processing, mobile processing, e-commerce processing, and so on.
Host Merchant Services offers access to a mobile-based payment system known as HMSPay. It is available for free. In addition to serving as a payment processor, HMS also offers access to POS or Point of Sale solutions.
The company boasts one of the best payment processing apps. Along with the register feature to be used for accepting payments through the app, Square also includes the fully featured POS software for tracking inventory, managing customer information, and running sales reports. You can download and use the app for free. You are only expected to pay for processing. The app functions on both iOS and Android devices.
With Square’s payment processing app, you can think of including more business features by subscribing to paid services like email marketing or payroll management. Otherwise, you can also consider integrating the app with third-party applications -like accounting software. Upon accepting credit cards with the help of the card readers on the tablet or phone app of Square, you have to pay a flat rate for every transaction. There is the absence of any monthly, annual, setup, PCI compliance, payment gateway, or early termination fees.
PayPal is regarded as one of the few payment processors that allow both individuals and businesses to accept payments instantly. Therefore, it is an excellent choice for consultants, freelancers, small-scale businesses, and solopreneurs. PayPal is available with a flat-rate pricing structure without any contracts. You are only expected to pay for processing services utilized by your business. The best part is that the payment processor also allows you to close your account anytime without paying any penalty.
PayPal has garnered itself a significant name in the global payments industry. Currently, the famous payment processor is known to serve around 26 million merchants, along with 361 million consumers across the globe -in more than 200 nations and regions. When you have access to a dedicated PayPal Business account along with the PayPal Here application, you can go ahead with accepting debit, credit, and PayPal-based payments in-store and online.
It was introduced in 2012. Now, the company has garnered the respect of being a leading mobile-based payment processing app that works with multiple businesses across 31 nations. Some of the notable customers of SumUp are DHL, Bosch, Staples, and so more. The payment processing provider boasts flat-rate, transparent pricing without any long-term contract.
SumUp can be your ultimate choice in the form of the best mobile card reader for iOS and Android devices. It is primarily used for Apple devices because it is inexpensive and accepts chip, magstripe, and contactless forms of payment -including the ones made by the Apple Watch. The card reader has a longer battery life and can be easily connected to the iPad or iPhone through Bluetooth. Therefore, it can be effectively used on both old and new devices. While it is an excellent pick for an iOS card reader, it can also be utilized with Android-based devices as it is a mobile application.
For any e-commerce business opening up pop-up shops or searching for a way to accept credit cards, Shopify Payments is a great choice. It is available as an in-house credit card processing solution provided by Shopify. Shopify Payments is available as a cloud-based e-commerce platform capable of serving over 800,000 merchants across 175 nations of the world. Some leading brands associated with Shopify Payments are Red Bull and Nestle.
Shopify Payments can be your ultimate choice for mobile-based credit card processing when running an online business. It is because the application makes it simpler for you to accept payments through different channels -on social media, blogs, the website, and even in-person at different locations with the help of the tablet or phone.
Choosing the Best Mobile Credit Card Processing Apps for Your Business
Whether you work with a direct processor, an ISO/MSP, or a payment facilitator for credit card processing, you should expect some basic features in the mobile payment processing app to ensure seamless payments. Some of the top features to look out for are:
- Selling mobile-based EMV card readers at affordable costs
- Providing a free credit card processing app
- Allowing you to accept all significant credit cards -including American Express, Discover, and others
- Providing customer support through phone or email
When you select a mobile-based credit card payment facilitator, ensure that the free application is compatible with your tablet or smartphone. While the best credit card payment facilitators feature apps for both Android and iOS devices, some of them offer support for a single platform only. Most processors will feature a list of devices that are compatible.
Even when the application is available for both platforms, the set of features offered might differ. One app might deliver more features than the other. At the same time, some tablet and iPad apps might have more features than phone-based apps.
Every credit card processing mobile application will have its dedicated POS software or register to help you manage the overall sales. When you choose a credit card processing mobile app, you should be capable of:
- Prompting customers for tips
- Managing a product catalog such that you are able to easily find and attach items to a ticket
- Generating sales reports
- Accepting customer signatures on the tablet or phone screen
- Connecting to a printed, a barcode scanner, and a cash drawer
- Sending emails, texts, or printing receipts
Understanding Mobile-based Payment Processing Fees
Mobile-based credit card processors usually charge minimal fees in comparison to full-service processors. The best ones out there do not charge any standard fees at all. This implies a lack of monthly fees, monthly payment gateway fees, annual fees, monthly minimum, non-compliance, or PCI compliance fees. There is the absence of any payment gateway setup fees, app setup fees, or early termination fees.
With most apps out there, the only additional cost you will encounter is the chargeback fee in case the customers will dispute some charge. These are quite common in online sales -not in in-person sales. These fees are charged only when the customers might be dissatisfied with some purchase or do not recognize the brand name on the respective credit card statement.
To ensure the success of your online or physical business, you should choose between the best mobile-based credit card processing apps to process payments on-the-go.