{"id":2285,"date":"2015-03-10T11:43:56","date_gmt":"2015-03-10T15:43:56","guid":{"rendered":"http:\/\/www.nationaltransaction.com\/credit-card-merchant\/?p=2285"},"modified":"2015-03-10T11:43:56","modified_gmt":"2015-03-10T15:43:56","slug":"ultimate-guideline-in-taking-credit-card-payments-on-your-phone","status":"publish","type":"post","link":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/ultimate-guideline-in-taking-credit-card-payments-on-your-phone\/","title":{"rendered":"Ultimate Guideline in Taking Credit Card Payments on your Phone"},"content":{"rendered":"
\"Wedge<\/a>

“>Credit: Flickr<\/a><\/p><\/div>\n

If you can\u2019t accept credit cards for your business, you are losing out on potential revenue. Most people don\u2019t carry more than $20 in cash with them at a time, and people who use credit cards tend to spend more than their cash-carrying counterparts.<\/p>\n

These days you can turn your smartphone or tablet into a credit card reader, but which service should you choose? What do you need to consider when deciding?<\/p>\n

NTC is here to help you understand all the intricacies of taking credit card payments with your smartphone or credit card.<\/p>\n

Credit card reader or Wedge are useful in a variety of industries and for businesses of all sizes. Arts and crafts business accepting credit card payments at conventions and other events. A pub that gives its servers credit card readers rather than having to pay for everything at the bar. POS systems with a mobile integration can swipe your card on the spot rather than taking credit cards over the phone when ordering delivery.<\/p>\n

If you work in one of these fields it might be time to think about getting a wedge:<\/strong><\/p>\n

Arts and crafts vendors:<\/strong>\u00a0Do you sell your wares at conventions, art shows, and other big events? You could be a book reseller, an artist, a jewelry maker, a clothing retailer, or even a makeup seller.<\/p>\n

Food Service:<\/strong>\u00a0Food trucks were among the earliest adopters of mobile card readers, but there is no shortage of restaurants that are using them now. There are companies both offer POS systems in addition to their mobile card readers, which is perfect for delivery services.<\/p>\n

Service providers:<\/strong>\u00a0If you don\u2019t have a brick-and-mortar office or base of operation where customers visit you, or if you\u00a0conduct your business\u00a0in\u00a0your customers\u2019 homes (carpet cleaners, plumbers, lawn care, mobile dog groomers, exterminators, etc.), a credit card reader\/wedge gives you flexibility as well as credibility, as well as added security.<\/p>\n

 <\/p>\n

Understanding the Costs of Accepting Credit Card Payments <\/strong><\/p>\n

In the traditional business model, to accept credit card payments you would have to set up a merchant account. A merchant account typically entails a detailed look at your credit history and business.<\/p>\n

Credit card companies assess a small fee to merchants for processing payments. With merchant accounts and card readers, the cost is built in and deducted automatically, so you don\u2019t have to worry about paying it yourself. With a merchant account, you typically get lower rates because of the decreased risk.<\/p>\n

It\u2019s not just the standard fees that you need to worry about when you want to accept credit card payments. There are costs hidden everywhere, so let\u2019s address some of these issues:<\/p>\n

Internet Availability<\/strong>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <\/strong>Typically, smartphone and tablet\u00a0card readers need some sort of Internet connectivity, via a cellular signal or Wi-Fi. Most smartphones these days are capable of becoming Wi-Fi hotspots, so you can create your own Wi-Fi. However, this option relies on your phone\u2019s data plan. The more transactions you make, the more data you use.<\/p>\n

Compatibility \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong>You also need to make sure that your devices are compatible with the card reader. Check the list of compatible devices before you commit to one service over another.<\/p>\n

Also note that you\u2019re going to usually have to enable location services on your phone.<\/p>\n

Card Compatibility, Manual Entry Fees, Location \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/strong>There are card readers that seems to work best with a specific device. You\u2019re typically going to pay more \u00a0 \u00a0for manually entering credit card numbers because of the greater risk – the card doesn\u2019t have to physically \u00a0 \u00a0be present to complete the transaction.<\/p>\n

Likewise, you\u2019re usually going to pay more for accepting international cards, and you\u2019re not always going to be able to accept payments outside the U.S.<\/p>\n

Taxes and Tips \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <\/strong>Several mobile credit card readers will let you add sales tax to the base purchase without requiring you to calculate it, which is handy if you\u2019re not fond of math or just want the transaction to go more quickly.<\/p>\n

As an alternative, you can build the sales tax into the listed prices, which some of your customers might appreciate.<\/p>\n

Finally, depending on your industry, you may want to check that the credit card reader you use allows your customers to add a tip.<\/p>\n

Time to Get Your Money \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/strong>The final cost to consider for credit card readers is more of a convenience fee than anything\u00a0\u2014 it\u2019s the time before you can access your money.<\/p>\n

If you\u2019re in a high-risk industry or have a high volume of business, you are probably better off obtaining a merchant account and using one of their mobile solutions.<\/p>\n

You\u2019re also going to want to worry about refunds and chargebacks. If, for whatever reason, a consumer complains to his or her credit card company and there\u2019s a chargeback.<\/p>\n

 <\/p>\n

Features to look For in Your Credit Card Reader \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong>Features-wise, you can at least expect the basics to remain consistent across smartphone credit card readers: you can swipe cards, manually key them in, and issue receipts. It\u2019s the little things that will ultimately set one service provider apart from the rest. Some of the things you may want to look out for include:<\/p>\n

Record-Keeping for Cash and Checks \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/strong>Sure, you can manage your cash intake the old fashioned way and let your bank deal with checks. But some credit card readers, (which doesn’t actually require you to swipe cards, but more on that later) will let you create digital receipts for cash and check transactions as well.<\/p>\n

POS Integration \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong>Depending on your needs, you might want to look for a service that has easy POS integration.<\/p>\n

E-Commerce Integration \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong>Likewise, look for easy integration with an online store, if you have one. Easy integration is ideal for centralizing your accounts.<\/p>\n

 <\/p>\n

Accounting Integration & More \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/strong>Do you use an accounting service? If so, you might prefer the ability to transfer your data directly from your card swiping service to your accounting software.\u00a0<\/strong><\/p>\n

Invoicing \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong>If you do custom orders, offer services, or provide goods to a business, you\u2019re all too familiar with invoices. With some services, you can generate invoices through them and send them to clients via email. The biggest advantage to this is simply that you get your money quicker because there\u2019s no need to cut a check and send it through snail mail.<\/p>\n

Voids and Refunds \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong>It\u2019s unfortunate, but you do need to make accommodations to process refunds and void transactions. Sometimes your finger slips on a key and you don\u2019t notice until afterward, and sometimes the customer just changes their mind. Make sure that you understand how to use these features in whichever service you choose.<\/p>\n

Card Reader Design \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong>Needless to say there is more than a bit of awkwardness trying to balance a phone with a 5.1-inch screen in your hand while also stabilizing the card reader while swiping the card. Especially when you\u2019re working with limited table space. It\u2019s worth looking at the card reader and the device it\u2019s attached to and making sure that the design works for you.<\/p>\n

Permissions for Multiple Users \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong>Do you have\u00a0several\u00a0employees? The ability to give permissions to multiple\u00a0users comes in handy here. With it, you can enable employees (or your friends) to accept payments without giving them full access to your account. This is great if you happen to have multiple booths at events, or if you send multiple employees out on location and each one needs to be able to accept payments.<\/p>\n

Accepting credit card payments doesn\u2019t have to be a terrifying prospect, even if you\u2019re running just a small-time business. You can get a mobile credit card reader for free in many cases, and while you won\u2019t pay the lower fees associated with traditional merchant accounts, the costs are still readily manageable. What you need to consider are the hidden costs \u2014 not necessarily in the service providers, but the ones that come from using a data connection, or requiring Wi-Fi. How soon you get your money should also be a top priority.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

If you can\u2019t accept credit cards for your business, you are losing out on potential revenue. Most people don\u2019t carry<\/p>\n

Continue Reading<\/a><\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69,149,31,150,41,53],"tags":[1960,1049,1161,1446,14,7,1158,25,377,2745,2744,75,1035,2216,2746],"class_list":["post-2285","post","type-post","status-publish","format-standard","hentry","category-best-practices-for-merchants","category-credit-card-reader-terminal","category-mobile-payments","category-mobile-point-of-sale-2","category-smartphone-2","category-smartsd-cards","tag-pos-systems","tag-card-reader","tag-chargebacks","tag-credit-card-reader","tag-credit-cards","tag-e-commerce","tag-high-risk","tag-merchant-account-2","tag-merchants","tag-mobile-card-readers","tag-mobile-integration","tag-pos","tag-processing-payments","tag-service-providers","tag-wedge"],"_links":{"self":[{"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/posts\/2285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/comments?post=2285"}],"version-history":[{"count":1,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/posts\/2285\/revisions"}],"predecessor-version":[{"id":2287,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/posts\/2285\/revisions\/2287"}],"wp:attachment":[{"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/media?parent=2285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/categories?post=2285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/tags?post=2285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}