Introduction to Accepting Customer Payments via a Smartphone
Small business owners generally use smartphones to manage various types of communication. Whether used to speak with clients, check email messages or post to social networks, smartphones are essential tools for busy professionals. Mobile business owners may subscribe for a merchant account to accept wireless payments with a smartphone.
Why Accept Wireless Payments?
Studies show that cashless transactions are growing among consumers. Credit cards and debit cards offer alternative payment methods and convenience for consumers. A business owner who is positioned to accept wireless payments might obtain more sales than its competitors who refuse to accept credit card payments. Business owners who accept wireless payments may realize many timesaving benefits, too. Less time should be allocated toward counting cash or for traveling to make a bank deposit.
Safely Accept Wireless Payments
A merchant account enables a business owner to safely accept wireless payments. PCI regulations require merchant processing companies to securely transfer electronic payment data. Whether a consumer’s data is sent using a keypad or magnetic strip reader, a business owner can accept wireless payments in a safe and a secured manner.
Get a Merchant Account
A merchant account is required to facilitate wireless payments with a smartphone. As consumers gravitate toward electronic payment methods, such as a credit card or a debit card, business owners can obtain equipment to meet the demand. Merchant processing companies provide qualified business owners with wireless card-reading devices. During a wireless payment transaction, a credit card reader is used to facilitate the transfer of a customer’s funds into a business owner’s bank account. Business owners must submit an application to apply for a merchant account. Qualified business owners may be able to get a merchant account within 48 hours.
Accept Wireless Payments
Generally, a pocket-sized credit card reader is used to accept wireless payments. Before processing a credit card payment, a user simply inserts the card reader into the headphone jack of most smartphones. When setting up a merchant account, business owners may inquire about a card reader’s compatibility with certain devices. An active merchant account enables a business owner to accept wireless payments from any web-based location.
Summary
Securing a merchant account could enable a business owner to safely accept wireless payments with a compatible smartphone. Merchant processing companies are frequently able to equip a business owner to accept wireless payments within a few days. Account representatives can provide helpful advice for business owners who want to accept wireless payments with a smartphone.
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