We've also showcased the best accounting software for small business and the best tax software. the pennies the bank will charge for movement of funds between accounts.īelow we list the best mobile credit card processors for taking payments on the go. There are options to pay a monthly fee in order to reduce transaction fees down to interchange fees only, i.e. Many charge no monthly fee, just transaction fees in the range of 2.5-3.5%. Most merchant services providing a mobile card reader offer rates similar to online payment processing systems. And some merchants offer an offline option to boot.Įven better, it's not just the ability to take payments from credit/debit cards with an EMV aka chip-and-pin, but contactless payments can now also be taken, including Apple Pay, Android Pay, and Samsung Pay. Using nothing more than your smartphone, a downloaded app, and a cheap card reader costing from $25 to $50, you can take payments anywhere there is a cellular network signal. Where mobile credit card processing really comes into its own is its sheer flexibility. The best POS systems can manage your inventory, ensure you're on top of compliance-related payment regulations, and help your business avoid fines and other administrative costs (such as chargeback fraud), all while offering advanced security features that protect from data theft and cyber breaches. They can even be great for small mom-and-pop shops that are looking to keep their initial costs down, and a tablet running apps on a stand can work in lieu of a till.Ĭredit card readers are the front end to your point of sale (POS) system, which can do much more than simply read cards.
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