Go cashless – your small business can accept payments from anywhere with one of these mobile credit card readers
There is a saying: “Money is king. Well, we’re not so sure anymore. Look in your wallet right now – how much physical money do you have with you? It is evident that cards have become the preferred transaction tool for any type of purchase. With that in mind, how do small businesses survive in a world where cash is becoming increasingly scarce? Mobile credit card readers are bringing small businesses or whatever service or product you sell into the modern card world.
Mobile credit card readers are an amazing tool for any merchant who sells any product or service. Let’s say you clean carpets for a living. You can provide your service, plug the mobile card reader directly into your phone through your iPhone’s headphone jack or Lightning port, and pay immediately. All you need is a mobile card reader, your phone, and a smartphone app and you are ready to go. What a world.
What else should I know about mobile card readers
There are basically three types of mobile card readers available today:
Magnetic tape readers
EMV smart card readers
Magnetic tape readers are your classic case of swiping your credit card’s magnetic stripe through the slider to pay. As we all know, technology evolves at an incredible rate, and even this style of card reader is becoming less and less common due to the potential for credit card fraud. These will obviously work with any credit card, but EVM chip readers are becoming the norm.
EMV chip readers are a much more secure way for the merchant to receive payment and for the customer to protect themselves against fraud. EMV chip readers are mobile credit card readers that allow you to insert your card into the device and read the chip inside your card for payment. It is a much more secure method of payment and can protect both parties, especially the merchant who may be responsible for stolen credit card information if they do not use an EMV chip reader.
Mobile wallets are basically the next evolutionary step. Many people leave their wallets at home and choose to pay with contactless payment on their phone or smartwatch. These mobile wallets use NFC to receive contactless payments. Not only is it a quick way to pay for products and services, but you also don’t have to touch anything that feels more important to you after 2020.
What are the best mobile card readers
In the world of mobile payment, Square sits on the throne and offers plenty of options for your business. But there are a handful of other options from companies like Paypal and Shopify that provide convenient and secure mobile payment receivers.
Below are our recommendations for the best mobile card readers.
1. Square terminal
The Square Terminal is a robust payment option, but not as portable as the Square options that plug into your phone. That being said, it is a more versatile and secure payment capture tool with swipe, chip and contactless payment. It prints receipts directly from the terminal for your customers and you can receive bank payments in just one business day.
Buy: Square Terminal $ 379.99
2. Square Reader for Magstripe
PHONES WITH HEADSET JACK
This mobile card reader fits in your pocket and easily plugs into your phone’s headphone jack. It accepts all major credit and debit cards as customers swipe the magnetic strip on their card for payment. The fee includes 2.6% + $ 0.10 for each sweep. Pair this is the Square Point of Sale app and you can see a full transaction history of all your sales.
Buy: SumUp Plus Card Reader $ 19.00
3. Square drive for iPhone
New iPhone users will gladly pay the extra $ 3 to use this Square mobile card reader, as it offers the option of plugging the card reader into the light port instead of the headphone jack. All of the same processing and payment processing fees apply from the Square card reader headphone jack. The only real difference is the initial price and the way it connects to your phone.
Buy: Square Reader for iPhone $ 9.98
4. Payanywhere card reader
Many small businesses don’t want to pay the processing fees for mobile card readers. Payanywhere offers a monthly fee of $ 9.95 for the services. Depending on the size of your business, it might be cheaper to opt for this monthly rate. You will need to create an account with SWYFTPAY, but then you will enjoy the benefits of a mobile card reader capable of reading magnetic cards, EMV and contactless payments. Plus, it’s small enough to fit in your pocket.
Buy: Payanywhere Card Reader $ 19.87
5. Shopify Card & Swipe Reader
Granted, it can be a bit boring to constantly plug mobile card readers into your phone and then unplug them when you don’t need them. The Shopify Card & Swipe Reader connects to your mobile phone or integrates with your point of sale system via Bluetooth, so you don’t need to physically connect anything to your phone. Customers can swipe their cards or have the chips read for extra protection. You can even capture signatures using Shopify POS.
Buy: Shopify Card & Swipe Reader $ 29.00
6. Paypal Chip and Swipe Reader
This slim and convenient mobile credit card reader is ideal for service and product providers on the go. It weighs less than two ounces and is thin enough to easily fit in your pocket. The mobile card reader accepts smart card and magnetic card payments, but in conjunction with the mobile app, you can even send invoices and record cash transactions.
Buy: Paypal Chip and Swipe Reader $ 24.99
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