If you are processing in excess of $1,500 per month in credit cards then a traditional merchant services solution is best for you because it will save your company money. If you are processing less, than $1,500 per month then a mobile merchant services solution such as Phone Swipe is best for you. Today, there are several credit card processing apps, such as Square, GoPayment & SAIL for smart phones and tablets that have made the process of accepting payments, more mobile, and more cost-friendly to low volume merchants. The best and lowest cost solution is Phone Swipe.
What are traditional merchant services solutions?
This is the way you are familiar with making credit card payments such as going into a retail store like Home Depot, Target or Walmart, and swiping your credit card through the terminal. Getting setup to accept payments in this manner gives you a lower discount rate, or a % of each transaction you pay to your merchant services provider. Traditionally, getting setup with merchant equipment would cost smaller businesses more money. Companies like Choice Merchant Services through their partnership with North American Bancard offer free merchant equipment to companies that want to have access to their merchant services processing. These are all in one-solutions that allow for easy credit card processing that can integrate into about any business. Some of this free equipment that is offered is:
Traditional merchant services here come with a monthly fee that is about $10 to $20 per month in addition to a credit card processing rate, that will svae your company money if you are processing in excess of $1,500 per month. Rates start at 1.05% and this is where you have a big cost savings over a Phone Swipe setup if you are processing more than $1,500 per month in credit card processing volume.
What are mobile merchant services solutions?
Phone Swipe offers no setup fees, no monthly fee, and not software or hard ware fees. All you pay is 2.69% per swiped transaction. You simply download a free app, for your iPhone, iPad, Android, or Blackberry. Then 24 hours later you are shipped the Phone Swipe card reader and you are accepting credit cards. Your only charge is 2.69% per transaction. This is a great mobile merchant services solution if you are processing less than $1,500 per month as there are no other fees. This solution is also less expensive than any other mobile merchant services solution and even has the option to print our or email receipts to your customers. To get Phone Swipe go here.
