Investing in a robust credit card reader for your business is a smart decision since it gives your customers more payment options. We live in such a time where everything is becoming automated and it would frustrate your customers if you are still living in the old cash and carry era. Thanks to technology that we now have a plethora of mobile credit card readers that allow you to collect payment even on the go.
Mobile credit card readers offer payment processing with straightforward fees, point of sale (POS) systems, inventory management tools and so much more. Now your mobile phone can handle all the payment processing, making it easier and convenient for your customers to pay for goods and services.
Most of the service providers discussed below offer free basic card readers and have companion apps that make payment processing even easier. In this guide, we break down for you the 5 best payment processors or mobile credit card readers that are good for your business.
5 best mobile credit card readers for your business
Square is one of the big names in the mobile credit card processing. As one of the oldest mobile credit card payment options, Square focuses on a straightforward pricing. It doesn’t require a contract either. Its users benefit from a flat-rate processing cost with no monthly, annual or hidden fees. The processing cost is 2.75% of all swiped cards. Better even, Square does not distinguish between card types, so credit, debit, and all other card types are all charged the same rate.
The company’s respective app, Square Register is compatible with both Android and iOS operating systems. When you sign up for Square, the company ships you a free mobile magnetic stripe credit card reader. The free Square card reader works with the free Square point of sale app to allow you process payments on your smartphone or tablet. What’s more, it allows you to send receipts via email or text message as well as connect a receipt printer to a tablet. Square also has an EMV compliant mobile credit card reader that can accept contactless payments such as Apple pay, that use NFC technology.
Created by Intuit, the company that develops QuickBooks, GoPayment is the QuickBook’s arm that handles all the mobile credit card processing. Though it integrates well with QuickBooks, you don’t need to have QuickBooks to process via QuickBook’s GoPayment. The GoPayment app comes with a clean interface that is easy to use on mobile phones and tablets. Everything you enter into the app goes into your QuickBooks account, whether its sales, receipts or inventory management.
QuickBooks GoPayment offers two different plans: a pay as you go plan and a monthly plan. The pay as you go plan charges a flat rate of 2.4% plus a $0.25 fee for each transaction while the monthly plan has lower rates but includes a monthly fee. Though the QuickBook’s GoPayment charges less than most of the other mobile credit card readers, it does have a PCI-compliance fee that varies depending on the number of transactions you make.
This is one of the cheapest options available for mobile credit card processing. PayAnywhere mobile allows you to accept credit cards, MasterCard, Visa, PayPal cards, and Discover all at the same low rate. You get a free credit card reader that lets you transform your Android or Apple smartphone or tablet into a mobile credit card reader. The mobile payment processing app is not only easy to use but robust in every way.
The app is highly customizable, allowing you to add unlimited users to your merchant services and account. Moreover, the detailed in-app and online reporting lets you know what, where, and when your customers are transacting. The processing cost is pegged at 2.69% per swipe and the charge is flat for all cards including American Express. There are no setup, monthly, or hidden fees.
Editor’s Note: This article continues on the next page. If you’re interested in other card readers, check out our wide collection of guides.Editor's Note: This article was originally published in January 2017 and was revamped and updated in December 2019 for freshness, accuracy, and comprehensiveness.