iPhone Credit Card Readers

When you are ready to move your small business to the next level, taking credit cards is the obvious necessity. It will obviously boost sales as it offers a more flexible option for customers to pay, and if you take card payments on a mobile device, sales can be increased even further as it doesn’t tie you to a single location. For those small business owners who use an iPhone, merchant service options are wide and varied.

So what should you look for when it comes to an iPhone merchant service? There are several important factors in choosing the right card reader for your iPhone, as available services vary widely. The first thing to take into account is the pricing structure of the reader you are considering. More goes into the cost of a reader than a per transaction fee. Some services require setup fees, monthly service charges, and may even charge for the reader itself. Almost every service will have a per-transaction fee which will depend on a base rate, combined with a processing rate that depends on the input. For example, swiping the card is considered less risky from a security standpoint, so the per transaction fee for this will be lower than inputting numbers manually.

The next thing you’ll want to consider is the hardware’s compatibility with a range of mobile devices. You’ll want one that not only works with your iPhone, but with an iPad and perhaps even Android and Blackberry devices, in case you have employees that use these other platforms. You should also strongly consider a physical card reader as opposed to just using an app on your phone, which as mentioned earlier, will lower your transaction fees.

The savvy iPhone merchant will also want to pay attention to the features offered by the mobile card reader service. Anything that can improve convenience and security, as well as providing a user-friendly interface, will improve your business. Many card reader services incorporate a function that allows the capturing of a customer’s signature, apply sales tax and tips, and email receipts directly to customers. In addition, you’ll want a processor that uses the latest SSL encryption to protect the privacy and security of your customers’ information. Another important feature to consider is whether your app is password protected to avoid fraud, should the mobile device be lost or stolen. Finally, you want to be sure that the app does not ever store information, an important security feature to stop hackers from stealing data.

Using your iPhone to accept credit card transactions can greatly improve and increase your business, and has many conveniences over the traditional point of sale system. As with any big step in business, however, you’ll want to make sure you do your research and ensure that you’re getting a device that has the right pricing structure, hardware, compatibility, and features for your business.