Mobile Payments: What Retailers Need to Know

Posted by: admin  :  Category: Business Services

Learn more about mobile payments, the newest trend in credit processing.

As more consumers link their bank cards to a smartphone, more retailers are responding with mobile credit card processing. Users can use their devices at the checkout stand, or even place orders online, all from their phone. That’s become increasingly important with the renewed focus on local marketing.

As a retailer at the forefront of this movement, you need to now how to choose credit card processing companies that will offer competitive rates and services.

Functionality is King

The new trend today is the plug-in card reader. You can use it with any smartphone, tablet or mobile device and its job is to take payments wherever the operator may be. Other important features store customer information, allow for loyalty programs (and reward redemption), and work with Wi-Fi. Some even offer cellular coverage as a backup if the Wi-Fi in your building goes down for any reason.

Security is not to be overlooked either. Customers will expect that sliding their card through a mobile device will offer the same level of protection as before. Use only card readers that offer encryption to scramble the data being transmitted.

Saving on Rates

Often, a flat rate seems really attractive because it’s simple to understand. Flat rates typically end up costing retailers quite a bit, though. Every situation is different, but those seeking an Internet merchant account should look for an interchange-plus model account. These variable rates can be overwhelming, but you’ll typically save more per transaction for going with this solution.


Charge.com Payment Solutions, Inc. provides mobile credit card processing for small and mid-sized businesses.