Credit cards have become the norm. Customers of today shop all the time with their credit cards than cash. Similarly, each business collects payment through credit card machine to ensure good cash flow. Looking at the changing retail world, many POS manufacturers have also come up with mobile based credit card readers. This results in making the whole process more accessible.
Mobile credit card readers are designed to plug into any device like smartphone or tablet. By swiping cards through credit card readers, now Entrepreneurs can collect payments on the go. This seems really beneficial for small business owners who don’t have much budget to afford a complete POS system, or permanent shop-front to run their business.
The working of mobile reader is simple. Basically, a reader gets attached to devices namely smartphone or tablet which then allows a credit card to be swiped. In fact, this works in the same way as a typical POS system where user’s credit card information is read and processed to complete a transaction excluding the installation and contract.
Mobile cards processing companies like MPX, and Square charge different rates for their services. Mobile credit card readers has been on the rise lately. This is because of the number of smartphones users has dramatically increased as well. And, with more smartphone users, many have started to opt for mobile credit cards processing. Undoubtedly, mobile credit card readers provides ease, convenience, and accessibility to both merchants and customers. Regardless of where you’re located, you can make transactions with help of mobile credit card reader. In this way, small business owners like hair stylist or construction worker can collect payment on-site. Moreover, mobile payment apps and readers are simple to set up.
Mobile and tablet credit card readers work well but there are rumours of identity theft around them. As a matter of fact, CEO of VeriFone, Douglas Bergeron claimed on credit card processing and business solutions company, Square, that data wasn’t encrypted passing through smartphone and tablet credit card readers. This gave huge shock to merchants, customers and business owners who often use this mobile processing for payments.
Business owners should take steps to assure that their customer personal data is safe. The first step to secure it is by investing in a PCI-approved credit card reader. Other thing is to use an approved point of interaction device. Mobile software should be current and updated to avoid security breaches, and to make safe transactions.