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What is Mobile Credit Card Processing?

Mobile credit card processors are growing in popularity all over the world. They improve efficiency, enhance customer experience and increase profitability.

5 min read

Imagine never having to turn away another customer due to an incompatible payment system. That sounds amazing, right? You are probably wondering how this is possible. It is actually quite simple — invest in a mobile credit card processor.

Mobile is trending and it's not fading out anytime soon. We have become a mobile centric society because of the convenience mobile compatibility offers. It has become mobile everything. From mobile marketing to mobile websites to mobile wallets, we are gradually coming to rely on our mobile devices more than ever and mobile payments are no exception.

Investing in a mobile credit card processor is an especially smart decision for traditional small business owners because you can’t risk coming off as outdated. Your customers are getting more tech-enabled—and they may expect you to have equipment that accepts credit and debit cards.

Out With the Old, In With the New

About 39 percent of people worldwide prefer mobile transactions — and that number is only growing. Consumers are becoming more and more tech-enabled and expect the same of your business. Accepting credit cards payment is no longer enough, it’s imperative that you invest in a mobile credit card processor.

So why do we cling onto antiquated cash machines? It’s most likely due to the fact that it’s comfortable. We have grown accustomed to using cash registers and barcode scanners and don’t immediately trust new and emerging technology — no matter how great it may be.

Adopting new processes can feel scary and unpredictable, but investing in a mobile credit card processor is worth it. Mobile credit card processing lets you complete transactions and accept payments out in the field with a mobile device. With minimal hardware, you have the freedom to do your work anywhere, without stressing over when and how you will get paid.

Many businesses are transitioning to the new mobile point of sale (mPOS) systems that are enabled by a smartphone or tablet. It allows you to have a portable payment terminal to accept payments on the go and virtually anywhere.

But in order to accept mobile payments, your business needs to have some sort of mobile credit card processor.

mpos solution

Mobile Point of Sale Solution

Becoming a mobile business means never having to turn down another credit card sale ever again. For the most part, mPOS solutions consist of portable handheld devices including smartphones, tablets or other wireless devices, with a payment card reader that functions much like a traditional point of sale terminal (a cash register).

This new mobile technology has the capability to open new opportunities for many small businesses. The biggest demand for mPOS is coming from small to medium-sized businesses that have experienced the convenience and benefits of mPOS and come to view this technology as an important tool in helping their business operate more efficiently and run more effectively.

While mPOS may not completely replace the traditional POS terminal for most businesses, it can help increase sales and heighten customer service in almost every vertical.

You can now complete sales, receive tips, get authorizations and digitally send receipts quickly and securely with a simple swipe and tap. That’s all it takes. You and your customers will enjoy quick, secure transactions every single time.

With mPOS, you instantly become a mobile merchant who can accept and process any credit or debit card payment — no matter where your business ventures take you.

Types of Mobile Credit Card Readers

With the growing number of mobile credit card processors and new technologies, more forms of mobile credit card readers have become widely accepted. Depending on your business, some card readers may work better than others. Here are the most common types of mobile credit card readers:

Mobile Card Magstripe Reader

Magstripe readers only take swipe cards. They pair with a smartphone or tablet and a designated mobile app. Some magstripe readers may need to be connected to WiFi or use cellular data to accept payments while others can operate offline.

Mobile Card EMV Chip Reader

​An EMV chip reader is similar to a magstripe reader in that it pairs with a smartphone or tablet and a specific app. However, the EMV credit card provides more security because of the chip-reader technology and has become a feature on almost all credit and debit cards. It has become the preferred method of payment.

Mobile Card Contactless Reader

This type of reader also pairs with a smartphone or tablet and an app. It uses tap or wave technology as well as mobile wallets like Apple Pay and Google Pay to complete transactions. This form of contactless payment has recently caught traction and is expected to exponentially grow in the coming years.

Mobile Device

You can turn your mobile phone or tablet into a fully functioning portable payment terminal and a merchant business tool. All you have to do is download a POS app and input the credit card number — no other equipment is required. 

Mobile credit card processing -1

Is Mobile Credit Card Processing Right for You?

The short answer is yes. Because many people go without cash, you need a mobile credit card reader to avoid losing out on customers carrying only credit and debit cards. Regardless of the size or vertical your business is in, you will undoubtedly benefit from a mobile credit card processor, but you have to be selective and choose the right one.

When considering mobile credit card processors, it’s important to keep an eye out for hidden costs. Mobile credit card processors should be reliable, have affordable transaction fees, offer a free business management app, and have the ability to function offline.

Fortunately, there are many credit card processors on the market that check all of the boxes, including GoSite’s Payments. Our Payments feature is a secure omni-channel payment processing solution that allows you to accept credit card payments anywhere through the mobile app, online or through SMS. Our all-in-one payment processing platform will revolutionize the way you do business.

A mobile credit card processor like GoSite’s Payments, works to unify the digital and physical shopping experience to transform the customer experience and enhance your brand while also increasing profitability.

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