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Much like mobile card readers, mobile credit card terminals can be used anywhere you have your iPhone. While it still relies on an app, this setup looks like a more traditional POS system. If you’re looking for a mobile credit card processing solution that’s a little more robust, then the app and terminal option may be what you need. Find out more by reading our Square review. One such app-and-reader vendor is Square, our recommendation for the best mobile credit card processor. ![]() Most processors will charge you a nominal flat fee per transaction and then a percentage of the sale, typically somewhere around 2.7%. If you go with an app and reader for mobile credit card processing, your choice of provider depends on how much you want to pay and whether or not you’d also like additional services. ![]() This also offers you additional protection against fraudulent charges, following the October 2017 EMV liability shift. #Used credit card terminal BluetoothWhile the free option is a great way to start, most processors offer an upgraded Bluetooth credit card reader for $50 or less that supports contactless and chip payments, extending payment options for your customers. With the reader in place, you can start accepting payments everywhere you bring your iPhone by simply plugging in and swiping the card as with a traditional payment terminal. Most app-and-reader companies send their merchants a free credit card reader that plugs directly into the iPhone’s headphone jack or lightning port. #Used credit card terminal downloadBusinesses simply sign up for a merchant account with the provider of their choice and then download the provider’s app to their iPhone. The app-and-reader combo is definitely the most popular mobile credit card processing solution available for iPhone. To help you narrow down your choices, here is a rundown of the three types of credit card processors for iPhone and how they work. Go with the wrong one, however, and it could cost you time and money. Small businesses have many choices for mobile credit card processors, from independent vendors that offer all types of credit card processing to merchant account providers, banks, and other financial institutions. #Used credit card terminal portableThe only difference is it’s your iPhone that is transmitting the data rather than a traditional payment terminal, which makes it a lot more portable and affordable, something that many small businesses will appreciate. It’s simply a matter of the necessary data being transmitted to the payment processor, which in turn passes the data on to the relevant banks and/or association networks to verify the transaction. The basics of how credit card processing works are the same regardless of what method is used. But with a plethora of credit card processors for iPhone available, the biggest challenge is choosing which one is right for your business. Want to use your iPhone as a point-of-sale (POS) system for your business? Getting started is easy, and processing transactions isn’t rocket science either. ![]()
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