6 Perks of a Mobile Credit Card Reader for Small Business

When was the last time you had to turn away a customer because they didn’t have the correct form of payment? Regardless of your answer, the goal should be able to respond to this question with never.

With far fewer consumers carrying cash, small businesses must be able to make transactions on their customer’s terms. With a mobile credit card reader, that becomes possible.

In fact, there will be almost 28 million mPOS devices (mobile credit card readers) in use by 2021 compared to only 3.2 million in 2014.

As buying behavior continues to shift online, we have noticed the emergence of the digital and largely cashless consumer. A mobile credit card reader enables your business to accept almost any kind of payment, opening the door to more customers, more sales, and endless possibilities for you and your company.

What is a Mobile Credit Card Reader?

A mobile credit card reader could be a plastic dongle used in addition to a mobile point-of-sale (mPOS) system or mPOS device itself -- a mobile device with mPOS software.

An mPOS can be used anywhere and function independently of merchant services. An mPOS system runs on your mobile device using software to process transactions, just like a traditional POS terminal but offers mobility as well as additional features.

A mobile credit card reader plugs into a mobile device acting as a middle man connecting merchants with an mPOS system. The card reader allows customers to swipe, insert or tap to accept credit and debit card payments to complete transactions. 

There are a number of mPOS solutions that do not require additional hardware and can operate independently solely with a mobile device and a mobile app. In this case, the mobile credit card reader would be the mobile device in conjunction with the app that can be used as an autonomous payment processor.

The Benefits of a Mobile Credit Card Reader 

Businesses in all verticals are already reaping the benefits of using mobile payment processing solutions. A mobile card reader enables you to accept payments wherever your business takes you, which can help boost your sales through increased customer engagement, more flexibility, and overall better customer experience. 

Affordable Price

Unlike traditional POS terminals, mobile credit card readers are relatively inexpensive. You will be charged some kind of processing fee (monthly fee, rates depending on the purchase, or a flat fee per transaction), but because there is little hardware required -- or even no hardware at all. Regardless of which mobile credit card reader you choose, prices are much lower and there are no huge upfront costs.

Increase in Sales

A mobile credit card reader enables you to accept all kinds of payments, which means you never have to turn away another customer for payment method discrepancy or lose a sale again. What does that mean for you? More sales, more often. 

Accept Payments Everywhere

The most obvious benefit of a mobile credit card reader is its portability. Your mPOS can be wherever your customers are. In other words, you can become a mobile merchant.

It offers a new level of convenience and accessibility for both businesses and customers. No matter where your business ventures take you, you’ll be able to make a transaction as long as you have a mobile credit card reader.

Simple Technology

If the mPOS requires hardware, it's typically an intuitive and easy-to-use plastic card-swiping device plugged directly into your smartphone or tablet (if any). You can say goodbye to bulky, costly, and stationary traditional POS terminals. You may actually be able to say goodbye to hardware altogether because many mPOS require no additional machinery whatsoever. All you need is a dedicated mobile device or tablet and an app to complete transactions.

Customer Experience 

When customers are satisfied with the shopping experience your business delivers, they are more likely to become repeat customers in the future. Accepting payments via a mobile card reader helps to improve the customer experience by serving customers where they are, and as a result, you can improve customer loyalty and retention. 

Flexibility

For businesses that operate on the go, a mobile credit card reader is ideal. You have more freedom and flexibility to accept payments on your terms without being locked into a strict annual contract with monthly charges for service and equipment that you might not use every day. It also offers more flexibility for your customers by allowing them to pay in a way that works best for them.

Grow Your Business with a Mobile Credit Card Reader

Instead of telling your customers how to pay, allow them to conveniently choose what works best for them. When you implement mobile card readers at your business, you give your customers more options for how to pay.

Mobile credit card processing is a way for you to accept card payments wherever you are. This is a particularly useful tool for small businesses that do not have a set location or work in the field most of the time because it allows you to accept payments anywhere you go.

For a more inclusive and all-in-one payment solution, consider GoSite’s Payment tool. It allows you to accept credit card payments anywhere, anytime, and every way -- with no additional hardware.

With GoSite, you can view, collect, and keep track of payments and transactions while on the go with our mobile app. You’ll get access to all the transactions and payment history for each customer to keep everything in the palm of your hand. 

Start growing your business with GoSite’s mobile, omnichannel payment processing solution today.