Selecting a Mobile Payment Partner

Tips to select a mobile credit card processing partner.

Using a phone to accept credit cards online has become one of the most important revolutions in financial technology in the past two to three decades. Processing payments from a mobile device has made it easier to service the customer whenever he or she is ready to buy, and allows for faster checkout speed too. Still, investing in mobile processing isn’t a simple matter. This guide will help you determine which payment processors offer the best benefits to you and your business.

Selecting a Partner

You’ll quickly find that you have many options for online credit processing, from banks to technology startups. Your best choice will be the partner who provides a comprehensive solution to the unique challenges your business faces, along with affordable rates and efficient service. Also keep in mind that banks rely on middlemen, so they may not be the most affordable option, even if they feel like the most reliable one.

Functionality is another concern. With new plug-in technology, merchant credit card processing is now possible on your iPhone, Android or tablet.

Security is Key

Any payment processor is going to need heavy-duty security if your customers are to feel comfortable using it. You’ll need encryption that will obfuscate the information from the payer and the payee, and a secure method to transfer that data. More retail businesses are using encrypted card readers to prevent unauthorized access to this precious data.

Without that security, your customer information is constantly at risk.