Accepting credit cards as a form of payment will significantly increase sales for your business. If you can process those payments directly on your smartphone, it can boost sales even more, especially if your business isn’t always confined to a traditional brick-and-mortar store. Perhaps you provide goods or services directly to customers on site, or you frequently sell products at tradeshows and local marketplaces. Maybe you simply want to give customers in your store the flexibility to purchase products from any sales associate, not just the one behind the cash register. Mobile credit card processing services, with their iPhone card readers, let you accept credit cards wherever you are. Read more about individual readers, and tips on what they can do for your business, in our articles about iPhone card readers, including our reviews of Flagship ROAMpay, Leaders Merchant Services and Intuit GoPayment.
While all smartphone card readers provide payment processing, they can vary greatly in cost and features. We graded card readers on price, hardware compatibility and transaction features to help you choose the best service for your business.
Several different fees make up the total cost of using an iPhone card reader. Some services charge a setup fee, while others charge for the card reader itself. Beyond these one-time costs, services will also charge ongoing fees, including a monthly service fee and per-transaction fees. Charged every time you swipe a credit card, per-transaction fees depend on two factors: the base rate and the processing rate. The processing rate, in turn, depends on how you input credit card information: Swiping the credit card is considered lower risk than keying in the card number, and thus typically costs less. To determine the lowest cost for you, calculate your average sales to see how many transactions you process monthly.
Hardware & Compatibility
Services that process mobile payments should work with a wide variety of popular mobile devices, not just the iPhone. Make sure the service you choose also provides a mobile card reader. While you can use an app on your phone to process credit cards, an actual reader will lower your per-transaction fees.
Mobile card readers provide a number of features beyond just processing credit cards, features that should help boost the convenience, intuitiveness and security of processing mobile transactions. When paired with a compatible mobile device, these services allow you to capture customer signatures, accept tips, calculate sales tax, or email receipts directly from your phone to your customers.
To keep your customers' payment information secure, all services in our lineup use SSL encryption when processing credit cards, while also password protecting the service's app on your phone. Furthermore, they store no credit card information on your phone, so customers don't have to worry about their data being stolen or saved.
Processing credit cards directly from your iPhone or other mobile device is convenient, simple and secure. Whether you are searching for your first iPhone card reader or in need of a mobile payment processor compatible with your existing merchant account, our side-by-side comparison and reviews of the best mobile payment processing services will help you choose the right reader for your business.
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