Accepting Online Payments: How Does Mobile Card Processing Work?


Accepting online payments has become the premier source of sales transactions for countless businesses that sell merchandise or services on the internet and in person. Most sellers are familiar with the traditional credit and debit methods requiring merchant accounts, such as standard and wireless terminals. Basic transmitters are still the most common way business transactions are completed today, and are by no means being phased out any time soon. However, they may end up taking a back seat to an innovative new method that has burst onto the retail scene, allowing businesses to receive funds using smart phone technology.

How Does It Work?

Business owners carrying mobile smart phones now have the world of credit and debit receiving literally in the palm of their hands. The same basic merchant account application applies to this method just like other traditional terminals. Business owners provide basic information about their company, bank account, and federal tax identification number to be approved by the merchant account provider. Once the application is approved, they are prompted to log onto a website to set up a virtual access point and register which employees will have permission to complete credit or debit card transactions and processing. Providers then instruct the customer to download an app (smart phone application) exclusively for company sales. Each provider supplies a list of cellular phones that are compatible with the software which typically include popular Blackberry, iPhone, iPad, and Droid models.

How Does It Improve My Company?

The advantages of this technology have far exceeded the capabilities of other credit terminals. The option of handheld processing eliminates the requirement for retailers to purchase expensive countertop equipment, often syncing with compatible cellular phones that have already been bought as personal or company property long before the introduction of financial software. Employees can either key in the information along with total sale charge, or use a compatible data reader.

The option to instantly email or text message customers with electronic receipts is an example of how this application was intended to be fully-functional business solution, rather than a replacement for when a standard terminal is not available. Credit information is not stored on the actual device once it is submitted through the secured terminal, meaning in the event of a lost or stolen phone, customer identities are not at risk. One of the most substantial benefits to this form of receiving funds is the flexibility to conduct business wherever and whenever the opportunity arises.

By using the internet connection from the cellular phone, businesses are able to continue their transactions without giving electricity a second thought. Many travel-based companies are utilizing this system, which can safely be labeled one of the most influential tools ever introduced to the trade show, kiosk, entertainment, food, and beverage industries. A combination of portability, user-friendliness, time and cost effectiveness make the cellular credit terminal an outstanding contribution to technology, convenience, and the way we conduct business as a society.

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