If you have credit card processing capabilities, you can now accept credit cards on the fly. Providers of merchant accounts are now allowing you to turn your smartphone or tablet to into a credit card processing terminal. How can you do this, how much does it cost and are there any requirements to accept credit cards wherever you are?
If you have one or more merchant accounts, you can connect your account to a device that you attach to your smartphone or mobile device to take credit card payments wherever you are. Customers can now use their credit cards when they purchase paintings at an art festival or when they buy hot dogs from you at the beach or at a youth sporting event. This enables your company to increase sales and cater to those who don’t like to haul cash around when they go out.
How Much Does it Cost?
Surprisingly, it doesn’t cost much to have this capability. In addition to standard merchant transaction fees, it costs about $30 or less to accept credit or debit cards on the fly. For most businesses, this cost can be recouped in only one or two transactions. Therefore, it is something that even the smallest of businesses can take advantage of to increase their customer base.
Which Companies Qualify For Such a Product?
The best part is that any company that wants to use their smartphone or tablet to accept payment via credit card can do so. However, it may be slightly more expensive to use if you don’t make a certain sales threshold each month. Businesses that make less than $3,000 a month tend to pay the most while companies that make more than $10,000 tend to make the most.
If you are thinking of ways that your company can expand its customer base, make sure to look into technology that allows you to turn almost any computer into a credit card terminal. This will allow you to make sales wherever you are and wherever your customers are interested in making a purchase.