Four Myths About Mobile Processing
Mobile credit card processing is a relatively new technology that has a lot to offer to both businesses and consumers. However, there are already a number of myths about mobile processing technology. Business people and others who are interested in accepting payments via a mobile device need to take the time to learn the truth about four of the most popular myths about mobile processing in order to determine whether or not it is the right choice for their personal situation.
Myth #1 – Mobile Processing Has High Fees
As with any type of credit card transaction, there are fees involved in accepting credit card payments via a mobile device. However, while the cost of a mobile transaction is generally more than the cost of a tradition credit card transaction, there is typically very little difference. For most businesses, the slight additional charge of mobile processing will be more than made up by the additional sales gained and the time savings due to the convenience of mobile transaction completion.
Myth #2 – Mobile Processing Requires Expensive Equipment
Mobile processing does not require expensive equipment. In fact, the equipment needed to accept mobile processing is often less costly than traditional processing. This is due to most processors using smartphones or other existing devices to handle the transaction. A simple and inexpensive card reader is all that people need to purchase to start accepting credit cards over mobile devices. In many cases, there is no charge for the card reader or the cost of the reader will be refunded to the purchaser over time.
Myth #3 – Mobile Processing Is Complicated
While mobile credit card processing may seem complicated, it is actually very simple. Once the reader is attached and the software is downloaded to the mobile device, the process of swiping a card and completing a transaction is very simple. The completion of credit card payments via mobile devices is as easy as a traditional credit card transaction completed at a cash register. The customer completes the transaction by signing their name or through the use of a PIN number.
Myth #4 – Mobile Processing Is Not Secure
Though many people worry about the safety of mobile processing, there is little difference between the safety of mobile credit card processing and traditional fixed credit card processing machines. Mobile processors use encryption and other technologies to keep card numbers and other personal information safe from hackers and others who might try to steal the information.