Entries tagged with “Mobile”.
Jan 23 2015
Jan 20 2015
Finding the right payment processor for your small business is all about looking for features that match up well with what your business does. Here are some examples of features you should look for depending on your business.
Mobile Card Readers for Local Businesses
One useful feature you can get from a payment processing company is a mobile card reader. This is a device that sits right on top of your phone which can process credit cards securely in-person.
Many of the better ones give you a free app to go with it, and let you plug them right into a convenient area like the audio port. This feature is ideal for local businesses that do a lot of commerce in person and not at a stationary POS system within a store. A mobile card reader will be useful for brick and mortar stores that don’t want to pay extra for the more extensive credit card devices, and also for small businesses that carry product from within their own home and want to be able to process credit cards for local customers.
Multiple Payment Storage Options for Online Businesses
One excellent way to encourage repeat customers for your online business is to make it really easy for them to store payment options. Trivial inconvenience is the great killer of e-Commerce. If customers can store different credit cards and payment options with your site using a payment processing service that allows for this, then they can come back and make additional purchases with much less hassle.
Having to enter payment information over and over again is going to deter repeat business. That’s why the multiple storage feature can be useful for encouraging growth in small businesses that focus on internet transactions.
Regardless of how your small business operates, it can benefit from the right payment processing features. For more information about these features and others, please contact us at ProPay today.
Jan 9 2015
Payment processors are becoming increasingly important as our reliance on the digital world increases. People are now purchasing items via Facebook and other social media sites – as well as using apps on their tablets and mobile phones. For most businesses, the days of simple cash transactions don’t apply anymore. Thus, the payment processor you choose must be well thought out.
Choosing a payment processor that has an excellent history of top cyber security is a must, considering that “hardly a week goes by without hearing of another data breach or a new strain of malware being discovered in the wild.” According to a FireEye Chief Technology Officer, hackers and their malware are only going to create more dire situations for 2015. FireEye is a “cyber security and forensics firm, [and they predict] mobile ransomware will surge in popularity.” They also predict “that point-of-sale (PoS) attacks will also become a more popular method of stealing data and money – and PoS attacks will strike a broader group of victims with increasing frequency.” What’s even worse, since cyber criminals are starting to become more creative, and a lot more are going into the business, payment processors will experience increased attacks.
The deal is, when a payment processor is hacked, the results are tremendous – “a single successful intrusion could provide access to pools of credit card data from many sources…” And sadly, some of these financial records might be your consumers’, which can lead to them placing the blame on you. Thus, make sure that when choosing a payment processor, you pick one that holds sound cyber security procedures – like constantly keeping up-to-date on new cyber security technologies. Some tell-tale signs include them being accredited by cyber security associations, and if they regularly join in on cyber security panels or conventions.
If you’d like to learn more about cyber security breaches regarding financial data, contact us today.
Jan 6 2015
Starting and running your own small business is already hard enough – you have to come up with the starting overhead costs, startup your marketing, and trial-and-error your procedures in order to streamline them. Once you finally get a steady stream of customers, the last thing on your mind is whether or not your payment processor is hurting you, right?
One article points out that some payment processors charge an assortment of fees, “including gateway fees, statement fees, monthly minimum fees and transaction fees…” You can sometimes circumvent these fees by allowing your customers to do mobile payments. Mobile payments won’t necessarily eliminate these hidden fees, it depends on the merchant and what fees they decide to charge.
[SN1]This is not necessarily true. Mobile merchants may still charge these fees.
In fact, the article goes on to state that “mobile payment options free entrepreneurs from long-term contracts and numerous hidden fees, offering clear pricing and fast deposits for a fraction of the cost.” So if you’re looking to minimize your payment processor fees, or avoid hidden fees, it’s worth looking into mobile payments.
Hidden fees are actually pretty hefty in the long run. For example, some payment processors advertise that they only charge 2.5% per transaction – but after hidden surcharges, and other recurring fees – it becomes 3.5% per transaction. It might not be a lot per transaction, but overall, it’s 1% less from the total payments you receive from your consumers.
ProPay is committed to offering you premium payment processor services without any hidden fees. Contact us today to learn more about our services and how you can protect yourself from hidden fees.
Jan 5 2015