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This handy checklist will help you decide which mobile credit card app is best for your business.
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A checklist for choosing the right mobile payment app
paysimple.com | follow @PaySimple | facebook.com/paysimple
Accepting credit cards on your mobile phone
Multiple mobile app options available
Which is right for your business?
Use the following checklist when researching your options
Do you need a merchant account?Merchant Account No Merchant Account
Application & underwriting – Must have a business
1-3 day standard deposit time
Deposits directly to your bank account
Higher transaction volumes (typically what your business needs to process)
No underwriting – You do not need a business
Typically entails funding delays (until your account is audited)
Some don’t deposit to your bank account
Low caps on transaction volume (ex: you can only process $1,000 per week)
Find an app that bundles with a merchant account
The merchant account allows you to accept credit cards
Find a partner to assist you
Do you need a merchant account?
www.paysimple.com | follow @PaySimple | facebook.com/paysimple
Do you have repeat customers?
Securely store customer payment information
Charge cards that you already have stored in your app
Access from a web application Find an app that lets you
access the same account from a computer browser
Fully synced with app
Deeper functionality
Good communication keeps everything transparent
Email payment receipts
Other communications as necessary
Keep all parties on the same page
Communicate payment information
Do you need other payment methods?
Sending an invoice
Running a payment from a virtual terminal
Set up recurring payments
Online payment forms
Do you have multiple users? Employees, Associates, or Contractors
Not all apps allow for multiple logins
Be sure to check for multiple-user fees when making a decision
What devices do you use? Different devices have different requirements All functionality may not be available on all platforms Keep the future in mind…
System compatibility Find an app that can export data in a format that agrees
with your accounting solution and other business applications.
Some other questions to ask: Is it secure?
Does it come with real live phone support?
What about the pricing?
Does the app come from a solution with a proven track-record?
