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10 myths about Mobile Credit Card Processing
Written by
Joel Cordle
November 2014
Written by
Joel Cordle
November 2014

 10 myths about Mobile Credit Card Processing


Compared to the usual point of sale system, a mobile credit card payment processing is known to be much cheaper. Some say that accepting payments through credit cards with the use of mobile devices is taxing, and difficult to set up. While other people will never try to compromise safety by swiping or saving credit card information on their mobile devices. However, all of those are only the myths about mobile payments.


Merchants process the payments through a credit card reader that is attached to a device or by simply scanning stored credit card details from a mobile application. Through this kind of procedure, users obtain different benefits like expediency, an efficient POS system and entrée to a range of business opportunities made on collected consumer information. However, mobile payments, such as Credit Card Transactions Cincinnati, in its totality remain a fiercely debated subject among customers, industry experts and retailers.


To be in the competition, it is a must for a small business to be updated and understand the direction of mobile payment technology. If you are considering embracing mobile payments, below are the top ten myths about mobile credit card processing that you may have bumped into, but are definitely not a reality.


Myth No. 1- Point-of-Sale system is not worthy of the hassle.

 Mobile payments provide more flexibility in reaching the customers. Gone are the days when store cashiers are tied in their cash registers as well as counters just to finish a sale. The offered flexibility can mean disparity between a lost and revenue sale. Also, mobile payments have the newest technology to trace sales, fight chargebacks, evaluate performance easily and quickly and log revenue.


Myth No. 2 – Setting up is complicated and hard.

 Usually, the set up includes downloading the vendor application and doing the needed steps to make the software and hardware working. What makes a mobile payment solution ideal is that is made to be easy and instinctive in order for merchants not to have too much trouble in setting it up.


Myth No. 3 – The rates are appropriately the same.

 The rates that merchant provide to their clients vary significantly but not so high. For example, Square offers 2.75%, while PayPal Here is charging only 2.7%.


Myth No. 4 – The credit card information is saves on the mobile device after each transaction.

 An ideal mobile developer will not save any confidential info. The information must only be shifted through a secure, encrypted grip between the processor and the app.


Myth No. 5 – You will open to fraud.
Since the information is not saved in the device but on the server, the risk of fraud is reduced.


Myth No. 6 – You cannot trust wireless devices.

With the appropriate device, software, network equipment as well as card processor, dependability must not be a concern.


Myth No. 7 – Error-free mobile processing applications

Data corruption can happen. To avoid this, a merchant has to be very diligent in reviewing a mobile processing transaction.


Myth No. 8 – Building a mobile payment scheme, people will adopt it as their wallet.

 The explanation to this is simple- the new payment solutions can never replace a consumer’s present wallet.


Myth No. 9 – Mobile wallets will surely happen.

 They won’t! It took around 60 years just to establish the banking infrastructure that is present today and mobile wallets will surely need a lot more years in order to gain critical mass.


Myth No. 10 - Mobile payments are for developed market.

 Although most investments in mobile payment system occurs in developed markets today, the biggest opportunity is in fact in the emerging market in which most of the merchants are casual.





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