Why get a mobile credit card processing system when you have a POS system
Mobile payments can now easily made by customers as compared to before. Now customers do not necessarily have to make payments at the cash to complete the payment process. This new innovation in technology can really help increase the profit margins in a retail store. Moreover, mobile payments are much easier to use and they can track the sales, evaluate performance and a lot more.
Setting it up is complicated and difficult
The setting up process of credit card processing is simply by downloading the vendor’s app and going through the steps to start the hardware and get it running. The best part of such technology is that it is just like other mobile apps, it is very user friendly and easy to use so that firms can use it without any difficulty. Mobile credit card processing companies also provide customer support to help out with any technical difficulty that may occur. Therefore, if at any time customers face any problem with the setup process, they can call the customer support.
All rates are conveniently the same
Due to firms such as PayPal and Square, who are aggregators rather than credit card processors, which is why the rates for both of them vary. Each credit card service has a different debit card rates which is one way of differing the different services. For instance square charges 2.75 percent while PayPal charges 2.7%. Furthermore, there are some cards that charge over 4 percent, for instance foreign rewards cards. This kind of customer’s profit, thus it is very important to read the fine print before choosing the credit card processing system.
Credit card information is stored on the device after a transaction is made
Well known mobile developer companies make sure that when they are creating the device they do not store any sort of important information on the phone. All sorts of important data must be transferred through an encrypted secure code between the processor and the application. This way no information will be saved on the device while making any sort of transaction.
Increases the risk of fraud
Frauds are always going to be concern no matter what. However, information is not stored on the device, for companies like Square, but on the server therefore, the risk of any kind of fraud is actually lessened. There is also no need to worry about losing your data in case your mobile device or tablet is sold.