Mobile Payment Processing Guide for Businesses On the Move

As a mobile company, most of your business is done on the go. This makes having a secure way to accept and process payments very important. Making sure you have a secure mobile option for customers should be a top priority so you can quickly get payments processed and be able to see your sales and costs in one integrated space.

This guide will walk you through mobile payment processing, the core benefits of using mobile payment solutions, what you need to accept and manage mobile payments, and data security.

The Benefits of Mobile Payment Solutions: Flexibility and Security

Investing in mobile payment services and expanding from a cash-only business will broaden your horizons. Instead of carrying a lockbox from venue to venue and balancing your cash drawer at the end of the day, you can check your sales from your tablet or phone. And since more consumers prefer to pay with a card over cash, you’re also providing a better experience for your customers.

Besides being a more flexible option, it’s also more secure. A cash box can be stolen or lost, but integrated mobile payment processing solutions securely store your payment data in the cloud so you can access it anytime, anywhere. And your information is protected with layers of security in compliance with the definitive payment security standards.

A Look at Mobile Payment Processing

Mobile payment processing is commonly offered by most payment services providers. Mobile payment solutions give your customers choices and give you flexibility. Mobile payment processing is a good fit for new businesses or businesses without a home office or storefront.
When you choose a payment processing services provider for mobile payment processing, their price structure can be the deciding factor. Some payment services providers offer mobile payment processing with an added markup, or with flat-rate pricing. With a markup, each card you swipe, dip, or tap will cost you a different amount because of interchange rates.

Interchange is the price set by credit card companies for businesses that want to accept credit cards. Interchange can be tricky because it varies between card brands and card types. With flat-rate pricing, you pay a static percentage every time you swipe a card. Flat-rate pricing looks like the best deal – at first. But the more your business grows and the more you process, the more your costs add up.

The right payment services provider needs to be able to grow with your business without sky-high costs. A subscription-based payment services provider will give you a stable, predictable monthly cost – without any hidden fees tucked away on your statement.

What You Need When You’re On-the-Go

Here’s what you’ll need to increase your business mobility:

Mobile Swipers

Most payment processing services providers offer some kind of mobile credit card reader you can use with a phone or tablet to process your payments. The best feature of mobile swipers is their portability. They can plug into the headphone jack of your phone, or connect through Bluetooth and still work with your mobile payments application. You can grab and go wherever your business takes you and still have the same functionality as a countertop terminal.

Mobile Applications

Mobile applications for iOS and Android offer a new kind of visibility and functionality without sacrificing flexibility. For inventory management, you can manage your catalog items and apply discounts without leaving the application. You can go beyond a desktop computer to do business, knowing what your sales are from one hour to the next with sophisticated analytics tools like a heatmap based on sales volume.

Total Integration

In the past, business owners needed to use a different tool for each part of their payment experience. But total integration streamlines payments for your benefit. This kind of technology offers a new kind of flexibility for your business, especially when you’re on the road or with a client.

With an integrated payment platform built for growing businesses, you can process payments from your phone just as you would if you had a countertop terminal. And because all of your solutions are connected, you can check your analytics and payment information from a desktop computer or tablet.

Why Data Security Matters for Mobile Payment Processing Services

Data security is the backbone of integrated technology and mobile payment processing. Without proper fraud prevention measures, your customers’ data is at risk. With the average cost of a data breach at $3.92 million, protecting sensitive cardholder data matters more than ever. And PCI compliance, tokenization, and encryption will safeguard that data.

Integrated mobile payment solutions will streamline the way you do business. Cloud-based payment platforms will protect your data while also enabling you to access it from any computer, tablet, or mobile device. And since PCI compliance ensures your data stays secure and protected, you can manage your payments much easier than manually counting cash every day. Its flexibility is convenient, freeing you to take your business anywhere.

Interested in adding mobile payment processing for your business? At Stax, we provide easy-to-use yet highly effective mobile payment solutions to businesses of all sizes. Whether your moving business is aspiring to scale its operations or if it already enjoys a significant presence in your service area, Stax works with your enterprise business to address all of your growing needs.

To learn more about our services and how they can help grow your moving business, talk to a Revenue Consultant to request an ROI quote. We will be happy to answer any questions you have and help you obtain the right mobile payment solution for your needs.