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Helpful Advice For Selecting A Wireless Credit Card Processing Company - Spokane nature travel Selecting A Wireless Credit Card Processing Company Mobile credit card processing, also known as wireless money transfer or m-commerce, removes the boundaries from business. Whether you are at a trade fair, flea market, art show, job site or luncheon with a client, mobile technology means your are always ready to make a sale, turning any situation into a revenue opportunity. Mobile credit card processing is portable and a simple to use, freeing business of the limitations of cash transactions or the risk of accepting a check. With mobile credit card processing, merchants can sell their merchandise anywhere: no longer dependent on a landline to process credit or debit card transactions. Over the past decade, many businesses have become highly mobile. Examples of mobile vendors include: o Home Service Repair Contractors o Massage Therapists o Landscapers o Home Delivery Service Companies o Trade Shows o Flea Markets o Gun Dealers Mobile/Wireless-commerce turns any situation into a money-making opportunity: whether you are on the job site, at a trade show, at a customer's place of business or having lunch with a client. Wireless payment options are available for every type of businesses, large or small. The small businessman can opt for a plan that allows for accepting credit cards online without a long contract or excessive terminal fee. Plans offered by the majority of providers accommodate any type of merchant and are scalable to expand as the business prospers. CCP.net reports, "Nearly 1 in every 3 consumer purchases in the United States is made with a payment card--including credit, debit, and prepaid products. The convenience of using credit cards generally increases the likelihood of consumer "impulse purchases," which ultimately contributes to an increase in a business's average sale. Customers are more likely to make these purchases if they have access to credit or their available bank account funds. Consumers carry more than 1 billion Visa cards worldwide-- more than 450 million of those cards are in the United States. The average ticket for Visa purchases is consistently more than cash. U.S. Visa cardholders alone conduct more than $1 trillion in annual volume." These numbers do not include MasterCard, American Express or Discover credit card transactions.

Helpful Advice For Selecting A Wireless Credit Card Processing Company - Spokane nature travel

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Page 1: Helpful Advice For Selecting A Wireless Credit Card Processing Company - Spokane nature travel

Helpful Advice For Selecting A Wireless Credit CardProcessing Company - Spokane nature travel

Selecting A Wireless Credit Card Processing Company

Mobile credit card processing, also known as wireless money transfer or m-commerce, removes theboundaries from business. Whether you are at a trade fair, flea market, art show, job site orluncheon with a client, mobile technology means your are always ready to make a sale, turning anysituation into a revenue opportunity. Mobile credit card processing is portable and a simple to use,freeing business of the limitations of cash transactions or the risk of accepting a check. With mobilecredit card processing, merchants can sell their merchandise anywhere: no longer dependent on alandline to process credit or debit card transactions.

Over the past decade, many businesses have become highly mobile. Examples of mobile vendorsinclude:

o Home Service Repair Contractors

o Massage Therapists

o Landscapers

o Home Delivery Service Companies

o Trade Shows

o Flea Markets

o Gun Dealers

Mobile/Wireless-commerce turns any situation into a money-making opportunity: whether you are onthe job site, at a trade show, at a customer's place of business or having lunch with a client.

Wireless payment options are available for every type of businesses, large or small. The smallbusinessman can opt for a plan that allows for accepting credit cards online without a long contractor excessive terminal fee. Plans offered by the majority of providers accommodate any type ofmerchant and are scalable to expand as the business prospers.

CCP.net reports, "Nearly 1 in every 3 consumer purchases in the United States is made with apayment card--including credit, debit, and prepaid products. The convenience of using credit cardsgenerally increases the likelihood of consumer "impulse purchases," which ultimately contributes toan increase in a business's average sale. Customers are more likely to make these purchases if theyhave access to credit or their available bank account funds. Consumers carry more than 1 billionVisa cards worldwide-- more than 450 million of those cards are in the United States. The averageticket for Visa purchases is consistently more than cash. U.S. Visa cardholders alone conduct morethan $1 trillion in annual volume." These numbers do not include MasterCard, American Express orDiscover credit card transactions.

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The ability to accept mobile credit and debit cards is essential to the success of mobile businessowners looking to sell services and products to their customers.

Reliable mobile credit card processing significantly increases sales. However, mobile businessowners can find it difficult to wade through the many options in mobile payment processing services.Online payment options are available for all types of businesses, large and small. The smallbusinessman can opt for a plan that allows for accepting credit cards online without a long contractor excessive terminal fee. Plans offered by the majority of providers accommodate any type ofbusiness and are scalable to expand as the business prospers.

Finding the best wireless credit card processing company requires a bit of extra work. Begin byshopping around for different merchant services, compare companies and determine your companiesneeds. Once you have narrowed your search to a handful of vendors, request any fees in writing andthe sum of the total cost from each qualified processor. Ask each financial processor how long it willtake you to receive your funds. The answer will have a bearing on your decision. Questions to askcredit card processing companies include:

1. What is the charge per month or per transaction?

2. What is the minimum transaction fee?

3. How long will it take for my account to be credited with each transaction?

4. What is the minimum charge per swipe?

5. Are their set-up or cancellation fees?

6. Do you offer 24/7 client service and technical assistance?

When selecting a mobile commerce credit card processing company, there are a few things to knowabout credit cards.

1. Compare credit card processing quotes as specialist companies charge varying fees for monthly aswell as individual transactions. There may be other charges or fees associated with an account aswell dependent on what types of fraud protection or account maintenance options you opt for.Research now will save money in future charges.

2. Fraud protection is important: make sure the processor you select offers CW2, the 3-digit code onthe back of every card.

Wireless technology is advancing rapidly. Industry experts predict that soon we will make purchaseswith just the wave of our cell phones. Without the ability to accept credit cards, merchants knowthey will lose sales. Research analysis abstracts indicate that wireless credit card transactions areincreasing rapidly: from less than 6.8 percent in 2009 to a substantial 21 percent in 2012.

TechCrunch.com reports, "Payments is a huge market. According to Nilson Report and theEconomist, in 2011 worldwide credit card transactions totaled $6 trillion and total debit- and credit-card transactions totaled $15 trillion. A 2 percent transaction fee applied to the credit total is $120billion and $300 billion when applied to the combined credit and debit total.

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TC further reports, "Square has a simple offer and a streamlined process for the small offlinemerchants that need to take credit cards: Register online, verify a bank account, accept a freereader, install the app and accept credit cards at a fixed and predictable 2.75 percent rate.According to a recent research presentation by Managing Director Christopher Brendler of Stifel,"small offline merchants pay as much as 7 percent of each transaction to cover the cost of traditionalpayment services compared to Square's 2.75 percent." Brendler later explained. "Square'spromotional fixed pricing plan targets larger small merchants, reducing transaction costs to as littleas 1.34 percent. Fixed and simple pricing is not an exclusive to Square with most disruptors offeringit." According to Square spokeswoman Faryl Ury, "In 2012 Square grew its customers from 1 millionto more than 3 million and is on track to process more than $10 billion in annualized payments in2013."

Merchants report the trend of paying for purchases with plastic is a tendency that is especially truein younger people who are accustomed to technology and convenience. Savvy merchants know thatconsumers purchase more when given the option of using a credit card.

In the past, mobile merchants could only write down the credit information and process thetransaction at a later time when they had access to a landline credit card terminal. Customer wereuncomfortable with this method as credit card information, if not kept securely, can land in thewrong hands between the time it was taken down and the customer's credit card is charged.Consumers need to feel assured that their credit or debit card information is safe and secure or theyare hesitant to make a purchase.

With mobile credit card processing, the credit or debit card is never out of the sight of the consumerand the transaction is completed in seconds from any location with an Internet access. M-commerceremoves the hassles out of doing business "on-the-run".

There is a seemly limitless amount of financial institutions offering mobile credit card process, manywith no contracts, PCI fee, set-up fees or cancellation fees. Several companies offer fees as low as2.69 percent per swipe or a low monthly fixed fee. As technology advances, it is imperative thatbusiness owners stay current industry changes and updates to take advantage of these options tofurther increase sales and customer convenience.

At the forefront of Internet technology since its inception, Tej Kohli founded Grafix Software, aprivately held company in 1990 to offer turnkey solutions to E-Commerce challenges. Headquarteredin San Jose, Costa Rica, Grafix Software is known around the world for its diverse range of servicesincluding campaign management, search engine optimization, creative web design and more.

Commenting on the rapidly developing technology of mobile money, Tej Kohli stated, "Developers ofmobile telephony and payment applications are coming together to change the way that goods andservices are paid for. We've already seen huge successes in Kenya, South Africa and India with

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regard to these types of schemes. New collaborative approaches are being launched in establishedmarkets in the US that effectively turn phones into credit cards. This is real disruptive technology,changing the way that people think about established processes, and at the same time bringing awhole new group of customers and prospects into the market. The new ideas and demands thatcome with them will continue that process of disruption and change. What's more is thatcollaboration is going to be global. Countries that used to be referred to as emerging markets havenow arrived. Other developing economies are taking their place. Old certainties about who leads theworld in innovation are about to be shattered. No one can be sure where the next solution will comefrom, but developers in South Korea and Brazil are as likely to avail themselves of the opportunitiesas those in Silicon Valley. "