TheLedger.com recently ran a news story entitled, “Small Businesses See Mobile Payments as Way to Cut Costs.” Here are a few highlights from the article:
There is a card reader called “The Square” that can be used to provide wireless merchant services for as little as $9.99. The Square card reader plugs into the headphone jacks of most smart phones and tablets and turns them into merchant services equipment capable of handling swipe credit card transactions. This allows companies to bypass getting a merchant account and what is typically costly merchant services equipment. The Square is sold by companies like Target for as little as $9.99.
What the article does fail to mention is that companies like Choice Merchant Services offer free merchant services equipment to all of their merchants. In the end with merchant services solutions from Choice Merchant Services merchants get a better deal. The savings of merchant services processing fees that come as low as 1.05% and the free setup that comes with free merchant services equipment Choice Merchant Services offers lower setup and monthly costs that solutions like The Square.
TheLedger.com article states:
Users pay 2.75 percent per transaction. That isn’t a cheap rate, but it’s the only fee users pay, the company says, while traditional payment systems can charge activation fees, monthly or annual fees, gateway fees and hardware rental.
Like we said above. TheLedger is missing the boat. 1.05% transcation fees and no setup fees offer a better merchant services and merchant services equipment solution to any merchant no matter if they are procesing $1,000 per month or $20,000,000 per month in transactions.
