For many companies, mobile credit card readers have become an essential part of doing business. They are easy to you use and allow you to process payments anywhere with just a smart phone. Several companies now offer mobile readers including Square, PayPal and Intuit to name just a few. Recently, Amazon came out with a mobile card reader called Amazon Local Register. It is a very attractive option because the introductory rate per swipe is just 1.75%, which is considerably lower than most of its competitors. But, the swipe rate isn’t the only thing you should consider when choosing the payment processing option that is best for you. Here are some other factors to consider:
1. Are there any monthly or annual fees?
2. Is the reader compatible with your current devices or will you have to purchase new ones? You may have to upgrade your phone or tablet in order to use some readers.
3. What is the processor’s reputation? It’s worth looking at some reviews of their customer service in order to make sure you won’t have trouble resolving issues if they arise.
4. How quickly will you have access to the funds? This is very important to know, as it will affect your company’s cash flow greatly. Some processors offer access to funds within one business day while others can take five or more business days.
5. What extra features are available that would benefit your business? Square, for instance, offers inventory management which may make it an attractive option for some businesses.
These are just some of the factors to consider when choosing the service that is best for your business.