Mobile Credit Card Processing
If we were to name any one particular category as having the most varied solutions, it would be Mobile Credit Card Processing. This is because a mobile merchant can be an extension of virtually any kind of business or be a dedicated business model. This might be the case of an artisan whose craft booth or gallery could be at any fair or festival in the country.
As a starting point, you’ll need a merchant account, of which there are four basic categories. Which category a business falls into depends on a number of factors including “is the customer present with their card?” and what are the types of transactions; high volume charges with a low ticket cost, low transaction volumes with high ticket costs, etc.
The success of fitting your business with the appropriate rate structure and equipment will depend on a number of factors.
What is different about Mobile Credit Card Processing?
The most unique characteristic about Mobile Credit Card Processing is that the needs of one mobile business can seem so similar to another, yet the recommended solutions so drastically different.
For example, consider the mobile Artisan that sells framed lithographs at various festivals around the country, and next to him there’s a booth that sells the most decadent brownies on the planet. Are these two businesses similar enough to share the same solution? Well, probably not. In fact, they may each share the same terminal or Smartphone solution but each has different rate requirements.
Each of these artisans may benefit from a retail merchant account that gives discounts via a swipe device which lowers the risk of fraud. But at the same time, the artist that sells his lithographs is likely to have fewer transactions with a higher ticket cost. This can be considered higher risk, not because of fraud implications, but rather due to associated charge-backs (customer disputed charges).
Now, those decadent brownies are sold at a high volume, but a low ticket cost. A typical processor would consider these low risk transactions. But if the account agent didn’t listen well enough to the business owner when configuring the account, then our favorite brownie company is probably losing money based off of per unit transaction charges that were originally geared for higher ticket transactions.
And at no point did we even consider what kind of technology was required to process these charges, or if the mobile merchant only has a seasonal business. After all, why pay fees for months when your account is largely dormant?
From our Blog…
Mobile Credit Card Processing Equipment
It probably won’t surprise you that some of the most significant advances in credit card processing technology fall within the category of mobile processing. This is largely attributed to the ability for a merchant to process credit cards on a variety of Smartphones and tablets. But even with this welcome technology, there might be more appropriate solutions based on the merchant’s requirements.
For example, a mobile merchant may run into a situation where there is no cell or WiFi signal to process a transaction? What then? If that merchant has hardware with a store & forward feature, they can simply batch the transactions for later upload. What about receipt printing? What if your work environment is such that you need a durable and sturdy unit?
The advantage for choosing 1st National as your mobile credit card processing partner is that we have a variety of both wireless credit card machines in addition to simple and advanced Smartphone solutions. With this flexibility, we are much more likely to advocate a solution most appropriate for your business.
For those of you who are 1st National customers you should be aware that your discounts can be quite aggressive, so please make sure you talk to us before purchasing from our cart.