8 Tips for Selecting the Ideal Mobile Credit Card Merchant

Even people who concentrate solely on internet marketing are sometimes going to have inventory that they will need to sell.

This can be merchandise that relates to your own site, products you’re selling as an affiliate, etc.

Whatever you’re selling, it is important to make sure that it is as easy as possible for people to pay you, and that’s why you should look into mobile credit card processing.

Here are some tips to help you choose the merchant service that is best for you.

  1. Brand Recognition
    At this point, just about everybody is familiar with Square.
    This does not mean, though, that it is the only wireless credit card machine available. Every day it seems like there are more and more card swipers entering the market.
    PayPal has its own now, too. While you don’t have to choose one affiliated with a well known payment processor, you’ll have an easier time convincing people to trust their credit card information to you if they recognize the name with which you’re working.
  2. Fees
    Every mobile credit card processing merchant is going to charge you a transaction fee. This is how the company makes money. Compare the different transaction fees. You don’t want to end up costing yourself money, do you? Typically the fees range from 2-3%. Be wary of any processor that tries to convince you that more is fair.
  3. Customer Service
    You don’t want to get stuck in support ticket limbo when you need an issue to be fixed. You want to be able to make one phone call, talk to a real person, and get the problem corrected as quickly as possible—especially if you have a buyer staring at you. Don’t trust any card processor that doesn’t have live agents available 24/7.
  4. Related Equipment
    Obviously if you want to take mobile credit card payments, you’re going to need a card reader that will plug into your phone or tablet. Some sellers like to be able to print physical receipts and send them via email or text.
    There are a few different peripheral pieces of equipment that you might want to have on hand if you’re going to accept mobile payments.

    mobile credit cards
    Photo Credit: Global X

    At the same time, if you want to be truly mobile, you don’t want to have to juggle a bunch of stuff. Choose a mobile credit card processing merchant that will give you the equipment you need but that won’t force you to buy or deal with equipment that isn’t necessary.

    This is not how you want to feel when you process a payment! Photo Credits: randychiu

  5. Multiple Currencies
    When you think of mobile payments processing, you probably think of credit cards. A good mobile payment processor, though, will give you the ability to track your cash sales as well as scan in checks. This way you won’t have to tally a bunch of different numbers at the end of the day because you’ll be keeping them all under one “bank.”
  6. Analytics
    Keeping track of your sales is important. These numbers help you run other areas of your business. You can try to do this longhand, but that leaves a lot of room for error. A good mobile payment processor will keep track of analytical information for you. At the very least, you should be able to figure out exactly what you’re selling to each customer, how much of it you’re selling, how often someone buys from you, etc.
  7. Ease of Use
    How easy is the card processor to use? Interfaces are important, of course, but in this case we’re talking about the physical reader. Square, for example, is famous for its picky card readers that like to tell the person taking the payment to “swipe quickly” a few times before actually accepting the card information and processing it. Most merchants will send out at least one card reader for free. Test out a few before you make your final decision as to who you like the best.
  8. Reviews
    What do other merchants and sellers think of the payment processor? Check out the processing company’s reputation and ask around. While opinions are going to vary, if everybody hates a specific processor, you’ll know to steer clear of it yourself. It’s important to also check out the company with agencies like the Better Business Bureau—you want to read both professional opinions as well as personal opinions before you make your decision.

It’s easy to get bogged down in the details so much that you start to feel too scared to make a final decision. Eventually what it boils down to is this: After you’ve accumulated the knowledge, which company seems the best to you based on what you’ve learned? Remember: If one doesn’t work out, you can always switch to something different!

Erin Steiner is a freelance writer who writes about a variety of topics including but not limited to those that relate to small business and internet marketing.

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