If you’re looking to start accepting credit or debit cards, there are no shortages of apps for tablets and smartphones that make this a much easier process than it used to be.
Thankfully, the days of setting up a merchant account with a bank, buying a card reader, and paying setup and subscription fees are long gone.
It may surprise you to know that the big-name companies are not always the best choice – especially if you have a relatively low sales volume. In fact, a study done by nerdwallet.com found that “unless you’re doing over $15,000 in monthly sales, your best option is probably a payment processor you haven’t heard of.”
With so many options to choose from, I’ve rounded up a list of the top 10 mobile payment processing systems for small business. And off we go!
One of the more well-known payment processors, Square is free and has no monthly service charge. It comes with a free, compact card reader that plugs into the audio jack of most smartphones.
- Flagship ROAMpay
This easy-to-use application comes with no annual contracts, and service is provided on a month-to-month basis. Transactions are credited to your business account within 48 hours. It accepts all major credit cards, and has a transaction fee of 19 cents per transaction. You can also record cash transactions with this app.
- Breadcrumb by Groupon
If you are a merchant that has numerous transactions over $400 or have an average transaction of over $26, Breadcrumb is a great option. For credit cards, the fees are 1.80% + $0.15. However, for American Express cards their fees are slightly higher.
- Leaders Merchant Services
This company offers some of the lowest rates for mobile credit card processing. There are zero fees for startup, statements, application, or customer service.
- Intuit GoPayment
One of the nice things about Intuit GoPayment is that it comes with a free credit card reader that works with your iPad, iPhone, or Android device.
Dwolla is a solid processor, but comes with the drawback of requiring both the customer and the merchant to have signed up for an account with them.
This is an inexpensive option for payment processing – the card reader is free and accepts most major credit cards. It gives you most of the basic features that other processors offer without hidden fees or setup expenses.
- PayPal Here
PayPal, another well-known payment processor, is reliable and flexible as it offers different types of plans that you can choose based on the needs of your business. The only drawback is that the card reader only works with Apple and Android devices.
- Just Push Pay
Just Push Pay works with the IPhone, iPad, and Android smartphones, and also comes with a free card reader. They also offer a web payment app, balance updates in real-time, and the ability to sync with QuickBooks.
- Pay Simple
Pay Simple offers a lot of helpful tools for users that show how the system works; in fact, 89% of users say it was easy to get started using it. The fees, however, are higher than some of their competitors.
Every business is unique, so the best way to choose a mobile payment processor for your small business is to do your research, figure out what you bring in on a monthly basis then choose the mobile payment processor that is going to be the best fit for your business.