Collect So You Don’t Pay

Every enterprise, whether it is a successful one or not, has to deal with its fair share of adversity. One of the most rampant difficulties a business is forced to deal with is the necessary ability to secure prompt payment for the goods and services it provides its customers. For small and medium-sized businesses, or even one-man bands, they likely do not have the deep pockets many larger organizations have. Not being able to timely collect income can make sustaining business operations all but impossible. With remote payment applications that are now available for mobile devices, collecting crucial revenue at a mobile point-of-sale is making collecting that is money easier.

For most people, using credit and debit cards is the simplest and most convenient form of payment that is available. There are dozens of mobile credit card readers now available. No matter which reader you select to use, the ability to collect payment on the spot is great for businesses that specialize in performing a service or services that require their staff to go into the field.

Four of most popular models of mobile credit card readers are Square, Pay Anywhere, Intuit GoPayment, and PayPal Here. Each of these readers work with Mastercard, Visa, American Express, and Discover cards; but which of these readers have the options and affordability to offer the maximum performance for your mobile business needs?

Square
Created by one of the co-founders of Twitter, Jack Dorsey, Square is the smallest option available at around the size of a book of matches. The Square adapter plugs directly into the audio jack of any iOS or Android-run smartphone or tablet and in conjunction with their free downloadable "Register" app that's available on the device's requisite app store, it becomes fully functional in a matter of moments. The secure device syncs with your bank account for quick and easy accessibility of incoming revenue. With an easy-to-understand fee structure where there are no upfront or monthly fees, users pay just 2.75% on every swipe transaction and 3.5% plus 15¢ on every non-swipe transaction. Simplicity makes the Square credit card reader a quick and easy solution to securing payment from your customers.

Pay Anywhere
Like the Square, the Pay Anywhere card reader is available free and has no binding setup or monthly fees. Powered by North American Bancard, Pay Anywhere's traditional reader is larger and fits snugly on the top of compatible devices that run iOS and Android operating systems (OS). There are alternate reader designs available so you can find a setup that works best for your particular business endeavor. Users pay a slightly lower 2.69% transaction fee for swiped entries and 3.49% plus 19¢ for non-swipe transactions. With Pay Anywhere's aesthetically pleasing and professional looking user interface and low rates it is a nice option for any individual or business that wants to process credit cards.

Intuit GoPayment
GoPayment from Intuit, the company that brings you the hugely-popular TurboTax®, now allows individuals to process credit cards. Like the other options discussed here, when you sign up for GoPayment, Intuit will send you a free reader and you can download the corresponding app from the app store that is supported on your device. Intuit GoPayment has two options: The first option is that you can pay 2.75% per swipe transactions and 3.75% for keyed transactions with no attached fees. The other option allows users to pay a small fee of $12.95 per month to get a free structure of 1.75% for card-swipes and 2.75% when you key in a customer's information. The later option lends itself to people that process a lot of credit card transactions. The reader itself is sturdy and fits snug against the top of the mobile device you are using.

PayPal Here
The PayPal Here Card reader, like the other three described in this article, is free to sign up for and plugs into the microphone jack of your mobile device in order for individuals to accept credit card transactions. Unlike the other products, however, PayPal allows for money transfers from users that also possess a PayPal account as well as the ability to accept checks. Because it integrates with your PayPal account, money transfers and transactions allow you faster access to your money then most of the other readers on the market. The fee structure is simple too. There is a flat 2.7% fee on all swiped or PayPal transactions. With many of the other services PayPal offers, the PayPal Here reader is good for individuals and businesses alike.

The mobile computing boom has many other organizations offering their own remote credit card reading capabilities and currently there are dozens of mobile credit card readers available. Since securing prompt payment is necessary for a small businesses sustainability, reaching out to IT professionals like the ones at XFER will allow you to make informed decisions on technology-based matters that are essential for the livelihood of your business.