Technology keeps bringing improvements to the world of business. No longer do you have to have a brick-and-mortar building to run a business. You can have a website and run a virtual business from anywhere in the world.
One of the latest improvements in technology for the virtual business world is mobile credit card processing. With a simple smart phone or mobile device, you can take payments from someone on the go, swipe a card out in the field, and check your status wherever you have access to wifi.
If you are ready to bring this new technology into your business, there are a few things you need before you can process mobile payments.
Prove that you are a business.
This is easy and necessary process to discourage the spammers and fraudsters from setting up a simple business model. With some simple questions and paperwork, you’ll be well on your way.
Choose a merchant account.
A merchant account is a bank account that allows you the ability to accept and process credit card payments. Keep in mind that merchants come and go; look for stability when making a choice. Rates and fees do vary, so read the fine print and do some comparison shopping before choosing an account. Contact the merchant directly, and feel comfortable with your decision before you sign on the dotted line.
Choose a payment gateway.
This is simply a service that processes the credit card payments. In many cases your merchant services representative and/or web designer can help you with this decision, and make the process seamless.
Get a Smartphone.
To process mobile payments, you have to have a mobile phone to work from. If you already have a Smartphone, like an iPhone or Palm Pre, then you are good to go. You can also contract with a company for hardware to process the mobile payments. But with the functionality in many mobile devices today, it may be a wiser choice to combine all your expenses into one unit.
Invest in a portable card reader.
This is not a necessary step because you can input numbers manually. However, portable readers make the process much faster and easier.
Take advantage of today’s technology and start processing your credit card payments from your phone. You will no longer be bound to your computer to process transactions. You can literally take your entire business “on the go” and make a profit no matter where you are.