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how to use a mobile card terminal
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How to use mobile credit card processing

If you have a mobile business or wanting to start a mobile business, one of the most important thing that you should consider is whether to accept mobile credit card services or not. This means accepting credit card processing using your mobile phone. Technology will keep on evolving in a way that provides the most convenient ways for anyone in doing just about anything, including paying. So don’t miss out on making things easier for you as you make increase your sales.

Mobile phone credit card sales processing

People have relied on their mobile phone in securely passing and receiving a message or information. With this process, they have applied it to accepting credit card payments. Having your mobile phone as your credit card terminal will make your life easier especially if your business is such as in the flea markets, gun shows, trade fairs, county fairs, gem faires, music festival, or other events that move from one place to another.

Your business being mobile will highly benefit from this kind of payment processing. If you plan on renting spaces at swap meets, you could do better with your business if you accept swap meet credit card processing because if ever you decide on moving your booth around, depending on the kind of traffic that you get on that particular location, you would need not worry about setting-up your swap meet wireless credit card payment processing. With this convenience on your phone, you could accept swap meet credit card services anywhere and anytime you want. You can add things to your swap meet mobile credit card terminal too like printers for receipts that connects to your phone or you can set it up in a way that it emails receipt directly to customers. You can even add a peripheral that can read and scan cards. No need to worry if this is safe because it totally is! Unlike voice info, these are considered data so the encryption are next to impossible in deciphering. This are even more secure than those traditional credit card terminals.

Since these swap meet mobile credit card machines are phones, they rely on your cell phone signal to do a transaction. Some of these apps have some data saving feature that saves the credit card info if there’s no signal but this is not suggested because you might lose some money if later on the card was declined and you have already provided your services. And your customer might not feel comfortable having her credit card info stored in your phone.

Cost of mobile terminal processing

One deciding on going mobile with credit card services should think of the cost of this type of payment. The processing fees could be more expensive compared to the traditional credit card processing because it might cost some data on your phone plan and fees might be more expensive as well. However, you might find that swap meet merchant banking have set up a different swap meet credit card processing rates with this kind of payment that may in turn be more economical for your business.

Your mobile phone can be anything you want it to be these days even as a credit card machine. So if you are a very mobile person and have a very mobile business, this could be for you.

How to Process Payment with a Credit Card Processing Terminal

The credit card terminal’s payment processing is not as complicated as it seems. The steps that it goes through works in just a few seconds. The way this works is that information is sent securely to and from several parties using a telephone line for a traditional credit card terminal or a cell phone network for a mobile credit card terminal. The several parties where information are exchanged are: the customer or card holder, the merchant, the acquirer, the card association, and the issuer. Merchant accounts for the business are opened in a financial institution called the acquirer. You need this merchant accounts to accept credit card payments. The first party to receive the credit card information once it was swiped is the acquirer.

The card association acts as the middle man who handles the information to be sent to the card holder or the issuer. One example of card association is Capital One. Once the acquirer have checked the details, it will send the information to the card association who will determine if the information that was swiped from the credit card terminal is approved or not. Credit card will be denied if it’s past its expiration date or the account is not enough to cover the payment. But once the transaction is approved, the info is sent back to the terminal and the sale is done.

Before the day ends, the merchant has to close all the sales of the day by collecting these sales in a batch for that day and resend all of them to the acquirer. The acquirer and the issuer will exchange this information. The fees are charged during this exchange and the moment everything is checked as valid, the money from the issuer is deposited to the account of the merchant. This usually takes overnight up to a couple of days.

It really is quite fascinating how fast the sales are done after the credit card was swiped in the credit card terminal. This was something that was only a thought in the past which technology has made possible. Now people are thinking of using a mini computer chip terminals to replace even the wireless credit card terminals. This is possible. Actually, some parts of Europe and South America is already using this.


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