If you’re one of the millions of small-business owners in the United States, you’ve seen an onslaught of technology that has been developed to make running your business easier. Running a business no longer means that you need a physical space devoted to it. Two-thirds of small businesses now use mobile technology to simplify the billing process for customers.
The Right Tools Will Make Everything Easier
As a small business owner, you are the IT expert, the janitor, the service provider, and the accountant for your business says Intuit. You may have a website to sell your products but real time sales are also important in some industries as well. For example, you may have a massage therapist website online. Customers call you up for appointments and you visit them at their homes to carry out the massage. Most people do pay by cash, but what if your customer does not have cash and wants to pay by card? As a service provider, you can go online and process the payment through the internet but it is far simpler to do the job immediately through a tablet and a mobile credit card processing system. The tablet will have a POS system installed in it and it will link to a secure wireless system. The credit card reader will be attached to the tablet. The customer can swipe the card through the reader and the cash payment is displayed on the tablet immediately. Your customer can authorize the payment by signing the tablet electronically or by providing a biometric thumbprint. Some wireless POS systems and mobile credit card processing systems are so advanced that they will even store credit card information for a particular customer. The customer authorizes payments through biometric hand scan can only. If required, tips and additional payments are added to the final amount and you can print a receipt or email a receipt to the customer immediately. For this industry, having a credit card reader is a huge asset but not every business owner is convinced about the usefulness of miniaturized credit card readers.
Is a Mobile Credit Card Reader Right For Your Business?
Mobile iPad credit card readers are a great asset for anyone starting a small business, but here are a few things you should consider before purchasing a system.
- Your business – It’s a good idea to consider buying an iPad credit card reader for your business from reputed companies such as shopify for example. Almost all customers prefer to pay by card. If you have a large volume of credit card paying customers, having a credit card reader is invaluable; moreover, with most of the major retailers slowly making the switch to a tablet based display and billing system, it makes all the more sense to go for one. You can also use the iPad credit card reader to process sales at real-time locations like fairs, pop-up stores, local markets, etc.
- Fees – Your business should make about twenty credit card sales per day to cover the fees associated with credit card readers. Almost every financial company offers mobile card readers but the prices, plans and features will vary considerably. Some company may offer a pay-per-use plan or a contract plan. The rule of thumb is if your business makes less than $2000 per month in card payments, you should use pay-per-use plans to save on fees.
- Merchant account and hardware – Although the card reader itself is affordable, you will have to set up accessories functions like a merchant account to process the cash payments. You will also need a smartphone or a tablet that will act as the payment gateway or terminal.
- Wi-Fi connections – Your tablet or phone may process credit card payments based on its Wi-Fi connections. However, some systems may require an independent system to ensure security while processing credit card payments. You should know that using multiple phones with credit card terminals in a single location might slow down the processing capacity. You may require a high-speed internet connection to ensure customer convenience.
- Customer service and tech support – Technology does go wrong and mobile credit card terminals are no different. There are chances of the system shutting down or refusing to process a card. In this case, the vendor company should be able to provide immediate assistance.
In the End, It all Comes Down To Convenience
With a mobile credit card reader attached to your phone or your tablet, you can work just about anywhere at any time. You can work as a consultant, set up pop-up stores, sell at farmer’s markets, through roadside stall, through food vans, etc. The miniaturized credit card system allows you to bill your customers anywhere for any amount and you can check payments through online banking systems. Cloud-based POS systems, tablets, and mobile credit card processing systems are the wave of the future. With these systems, you’re the boss, you can work from anywhere and reap the rewards anytime. It is as simple as that.