How to Accept Mobile Credit Card Payments

If the device is lost or stolen, you’ll rest easy knowing your data is safe. Keeping data secure is a vital but often-overlooked aspect of using mobile credit card readers. If your mobile card reader gets hacked, the ensuing fallout could damage your small business’s reputation. A mobile credit card reader is a device that you plug into your smartphone’s headphone jack so your phone acts as a credit card reader. You usually have to download a mobile payment processing app to use the reader. Accepting NFC mobile payments is a lot like using a traditional credit card with a magnetic stripe.

This greatly reduced cash held at the fuel station and time taken to deposit cash at the bank, increasing the security and efficiency of the fuel stations. A mobile credit card reader allows business owners to use their mobile phone as their point of sale (POS) system. Before you process your first mobile credit card payment, take a few minutes to ensure your mobile device is secure and all software is updated.

This technology is what powers payments behind mobile wallets like Apple Pay®, Samsung Pay, and Google Pay™. This type of payment is similar to a mobile browser-based payment; however, instead of navigating to a website you can open up the app if that store or business has one. Users benefit from a range of in-app mobile stores and businesses that allow them to buy select products and services within closed ecosystems.

You don’t even have to bring your mobile device with you to every transaction — your Bluetooth-enabled reader itself is all you need within an adequately short distance. NFC devices with multifactor authentication, however, reduce security risks. Once you process payments for your business using an NFC reader, the proceeds will go directly into your merchant account, just like typical credit card transactions. Often, these proceeds are transferred into your business bank account automatically the following day, but you may need to initiate transfers periodically to sweep your balance.

PayPal and Venmo both offer credit and debit cards, and Cash App’s debit card occasionally offers some very deep discounts. Samsung offers a card and a no-fee, interest-bearing money management account provided by SoFi. Another thing to be on the lookout for with these services is getting payments or requests for money from those you don’t know. Well-known scams involve someone sending you a bunch of money through the app and asking you for repayment. A common scam is that the source of the payment to you comes from a stolen credit card. If you accept that money, you could find yourself in deep legal doo-doo.

Some mobile payment apps, such as Cash App and PayPal, are standalone downloads; others are baked into other services. For example, Apple Pay’s in-store payments are built into the Wallet app, and person-to-person payments happen inside the Messages app. Popular mobile wallet apps include Apple Pay and Google Pay and accelerated checkout apps like Shop Pay.

Millions of companies use Square to take payments, manage staff, and conduct business in-store and online. Visit the Samsung Pay Gift Card Store from your Samsung Galaxy smartphone. Samsung Knox technology constantly monitors your phone to keep your information safe. Your card information is encrypted in a separate and secure data vault at all times. For even more useful insight into how we can help you streamline your business’ payment process, including the other ways you can use SimplyPayMe for payments, check out the latest on our blog. This data can help inform you of your current customers’ purchasing behavior and give you the opportunity to further tailor your products, services, or overall customer journey funnel.

A virtual terminal allows you to accept MOTO payments (Mail Order/Telephone Order), process orders, and manage bookings, through a personalised digital dashboard. It is popular among small businesses, as it offers total flexibility – including allowing you to remotely complete transactions over the phone. All you need is your smartphone to experience the convenience, security, and speed that come with accepting mobile payments anywhere. In short, with mobile payments, you increase your chances of getting more money from more customers faster than you would with traditional payment methods.