Mobile businesses such as service businesses, farmers & flea markets, food trucks etc. have all taken advantage of accepting credit cards via mobile devices for years but with the development of the SmartPhone apps & small credit card readers that connect to your SmartPhone, mobile processing has become so much easier for anyone in business today to accept credit cards wherever they are.
Companies like Square have even made it possible for an individual to accept payments via credit card but there are many drawbacks to using a service like this; Lets examine some:
1. Square is an Aggregator which means you are part of a huge group of people on one merchant account that is not yours and you have no control over anything related to your transactions or payments.
2. Because Square is an aggregator they have no obligation to adhere to Visa & MasterCard’s regulations which are there not only to protect the cardholder but you as the merchant, you have no recourse!
3. Square has no phone support, all their customer service is down via email and the time it takes them to respond can vary greatly.
4.It can take up to 30 days to get your money if you go over their low volume threshold for manually entered transactions.
5. Their seemingly one low simple rate is not so low when your average ticket is higher than $15.00. It ends up costing a lot more than with most traditional processors.
6. Because Square attracts low ticket, high volume merchants they have yet to make any money. This can mean many possibilities for the future that are not so good for their users. One option is that they will just pull the plug and leave their merchants high and dry, another option is that they will change their model and compensate for the areas in which they are losing money, another option that is most likely is that they will use their client base to generate revenue from third parties such as advertisers, list brokers etc. Your guess is as good as mine at this point.
We provide you with an encrypted, PCI compliant device to run credit cards through your SmartPhone, thus giving your clients the security they crave & deserve. You own your own merchant account with all the benefits and obligations of an Authorized Merchant Services Provider who must adhere to all Visa & MasterCard’s rules & regulations that protect you as the merchant. Our low cost solution for mobile processing will not only make sure you are keeping your clients information safe but will save you money over these more expensive options like Sqaure, not to mention you will not have to share a merchant account with thousands of others but it will be your own.
Lets compare rates with Sqaure:
If you were to swipe a Visa Check/Debit Card transaction for $50.00 with either solution:
A savings of $0.79 with our solution.
Swipe the same amount on a Visa Credit Card and you will see these types of savings:
A Savings of $0.18
Now compare Rewards Visa Cards:
A Savings of $0.12
And of course Key Entered Visa Cards that Square charges so much more for:
A Savings of $0.57
In Most cases the majority of your swiped transactions will be Check Card, Regular Credit Card & Rewards Cards or manually entered transactions so why not take advantage of the access to these lower rates and the added benefits a real merchant account gives you today?
Contact us to start processing secure mobile transactions right away!
Square, the Square logo, Square Reader, Square Register, Square Wallet, Square Cash, Square Dashboard, Square Gift Cards, Square Market, and Square Stand are all trademarks or registered trademarks of Square, Inc.