Mobile credit card processing is a great way to accept payments on the go. Whether you’re a small business owner, freelancer, or just need a way to take payments while you’re out and about, mobile credit card processing is a great solution.

There are a few things to keep in mind when choosing a mobile credit card processor, such as transaction fees, monthly fees, and whether or not you need a physical card reader.

Transaction Fees

Most mobile credit card processors charge a per-transaction fee. This is a percentage of the total sale, and it’s how the processor makes money. The average transaction fee is around 2.9%, but it can be higher or lower depending on the processor you choose.

Some processors also charge a flat fee per transaction. This is usually a set amount, like $0.30, and it doesn’t matter how much the sale is for. You’ll just pay the one flat fee.

Monthly Fees

In addition to transaction fees, you may also have to pay monthly fees to use a mobile credit card processor. These can vary depending on the processor, but they’re typically around $10 per month.

Some processors also charge an annual fee. This is usually a set amount, like $99, and it’s charged once per year.

Card Reader Fees

If you want to accept credit card payments, you’ll need a card reader. Some mobile credit card processors include a free card reader with their service, while others charge an additional fee.

The average card reader fee is around $30, but it can be higher or lower depending on the processor you choose.

Now that you know the basics of mobile credit card processing, let’s take a look at the different types of processors you can choose from.

There are two main types of mobile credit card processors: standalone and integrated.

Standalone processors are standalone apps that you can download and use to accept credit card payments. They typically don’t have any monthly fees, but they may charge higher transaction fees.

Integrated processors are integrated with other software, such as invoicing or accounting software. They typically have lower transaction fees, but they may charge monthly or annual fees.

Types of Mobile Credit Card Processing

There are four main types of mobile credit card processing: contactless, in-app, online, and point-of-sale (POS).

Contactless payments are made using NFC (near-field communication) technology. This allows you to simply tap your phone against a contactless terminal to make a payment.

In-app payments are made using a mobile app. You can typically add your credit card information to the app and then use it to make purchases within the app.

Online payments are made using a website or online service. You can typically add your credit card information to your account and then use it to make purchases on the site.

Point-of-sale (POS) payments are made using a physical card reader. You can connect a card reader to your phone and then use it to swipe credit cards and accept payments.

Mobile Credit Card Processing Fees

When it comes to fees, there are three main things to keep in mind: transaction fees, monthly fees, and card reader fees.

Transaction fees are typically a percentage of the total sale, and they’re how the processor makes money. The average transaction fee is around 2.9%, but it can be higher or lower depending on the processor you choose.

Some processors also charge a flat fee per transaction. This is usually a set amount, like $0.30, and it doesn’t matter how much the sale is for. You’ll just pay the one flat fee.

Monthly fees are typically around $10 per month, but they can vary depending on the processor you choose. Some processors also charge an annual fee. This is usually a set amount, like $99, and it’s charged once per year.

Card reader fees are typically around $30, but they can be higher or lower depending on the processor you choose.

When it comes to transaction fees, you have two main options: pay-as-you-go or subscription.

Pay-as-you-go plans are great for businesses that don’t process a lot of credit card payments. With this type of plan, you only pay transaction fees when you actually process a payment. There are no monthly or annual fees.