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Being able to process credit cards is vital to any business. The ability to process credit cards on the go is becoming just as important. Luckily we are a very tech savvy generation and have things like the iPhone to help us along. As I’m sure you know by now there is almost nothing this little gadget can’t do. You may also add to your list of positives on the iPhone that is has the ability to process credit card payments on the fly. No more hassle lugging around annoying equipment to client meetings, you can simply process payments with your handy dandy iPhone.

Now there are a number of solutions for this, however in this segment we have selected just a few to give you an idea of whats available to you. Over the next few days we will examine various credit card processing applications available for use with the iPhone. The application are not listed in any particular order.

Credit Card Terminal

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The Credit Card Terminal app can be downloaded for $0.99 and has a pretty impressive list of features.

• The app can accept Amex, Visa, Discover and MasterCard
• There is also an optional credit card reader accessory
• You will find the transaction log very helpful.
• Issue full and partial refunds when needed.
• Send email PDF receipts to clients
• Capture digital signatures for all transactions
• Optional customer tip/gratuity
• Fill customer contact info in from your personal Address Book

With a very user friendly face this app could be a nice option for your credit card processing needs.

Swipe Credit Card Terminal

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The Swipe app is available for $0.99 and unlike some credit card processing apps has a wide rang of currencies that can be accepted.

• Swipe has a Signature Capture feature that will collect the customers signature and then forward it to your email.
• This app makes the short list of Authorize.Net Certified for security and compliance.
• There is a brand-able feature to add your company name to the apps heading.
• You can accept tips and also set a default amount for tips.
• The whole transaction takes place in a single screen for faster processing.

ProcessAway Credit Card Terminal

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The ProcessAway application provides you with another great option for processing credit cards on the go via your iPhone. This apps has a great feature for capturing comprehensive information for billing info, customer info and shipping info. This application also makes use of google maps by tagging the transaction location. Another notable feature is the option to manage multiple merchant accounts from within the one app.

All of these apps are equally user friendly as well as visually pleasing. While the apps can be downloaded and installed on your iPhone for only $0.99, there may very well be other charges applied for transaction fees, setup costs, reoccurring monthly fees etc. Take the time to compare fee rates and all costs before committing to any credit card processing app or service.

Be sure to see the next segment for even more great credit card processing applications.

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Square: Credit card payments on your iPhone by iJustine

Previously we’ve talked about how other mobile payment solutions will measure up to Square in the ongoing mobile payment processing war. However, with the recent news that the service as well as the accompanying card reader will only cost a mere $1 to obtain fills us with great excitement as we are looking at what is potentially a great payment processing solution! By plugging in a small square card reader gadget slightly bigger than an adult’s thumb into the iPhone, iPad or Android devices, making purchases using credit cards will be a cinch!

Here are 10 reasons why we think Square’s mobile payment processing solution rocks!

1. It’s only a measly dollar!
Did we mention it’s only $1? If you wonder how Square can afford to give away the card readers, it’s because they are 2.9% out of every transaction they help complete using the service. After signing up, the good people at Square will send over a free card reader/scanner as well as a nifty sticker.

2. Accept credit cards easily – no frills and spills!
You can now do away with the need to fill up tedious contracts and pay through your nose just to accept your customers’ credit cards. Square’s intuitive interface will also take the guesswork out of the picture.

3. Awesome compatibility
Basically any mobile device with an audio input jack is compatible with the Square card reader. iPad, iPhone, Android devices, you name it, it’ll fit in.

4. Go paperless
Square emails you all the receipts instantly to your email or mobile device so that you can easily keep track of your expenditure.

5. Photo verification features make payments more secure
Load up your photo and get it verified; in no time your payment can be processed without a hitch

6. Delicious rewards galore!
Square and its merchants will reward customers for being loyal. They’ll know when you’ve been frequently making purchases with Square and will find ways to reward you. Free iced coffee, anyone?

7. Receipts suddenly become interesting!
In the past, physical receipts are a chore to keep. Now Square lets you track down each purchases, and attach photos of items you’ve bought as well!

8. Virtual shelves – A feast for the eyes
Square makes all merchants’ products look more delectable by placing them on a virtual shelf. It’s just like a real store!

9. Virtual tip jar – Fill ‘em up!
Customers can choose to drop in some tips based on a percentage of the purchases or any amount they wish, really

10. Top notch security features
Square went the extra mile to ensure full security compliance is practiced. Fulfilling requirements like PCI Level 1 and PA-DSS mean that Square users can shop with peace of mind.

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The role of smart phones
The smart phone is undeniably becoming more and more indispensable in our lives. Staying in touch via Twitter and other forms of social networking is a breeze with this gadget. Besides that, a good Internet or Wi-Fi connection allows its users to enjoy a myriad of online games, navigate their way around using GPS and even go on an online shopping spree using just their mobile devices! There are applications for just about anything you need! And speaking of which, the mobile e-Commerce industry is indeed booming, with new innovations released into the world each day. And one area that is definitely catching both the consumers and industry players’ eyes is payment processing.

PayPal – Old innovation made new
PayPal is no stranger to the e-Commerce field and is touted as the entity that made payment processing more accessible and friendly. With their recent launch of a new app innovation called “Send Money”, they are expected to take payment processing to the next level. The “Send Money” feature is not a foreign feature in their online website but it will be, at least for mobile users who want a faster and more convenient way of transferring PayPal funds.

How does it work?
This new application will allow two iPhone users to make payments merely by bumping their mobile devices together. All they need are their iPhones and PayPal accounts. Besides that, an added convenience for users who access this app is the ability to split bills easily among no more than 20 people. Definitely a useful tool if you think about the difficulties involved in splitting bills during corporate lunches or a cab ride with friends in tow. Tax and tips will be divvied up evenly so there are no worries about anyone overpaying at all. Security is also not an issue here because PayPal reassures consumers that no financial data will b e stored on the mobile device. Losing your phone will not jeopardize sensitive financial information and will not signify the end of the world, unless your phone is one made of solid gold or is diamond-encrusted, in which case you must launch a nationwide hunt immediately to retrieve it!

How much will it cost to acquire this app? NOTHING! It’s currently being offered for free but it is not known if PayPal has plans to release a paid app that gives even more features to account holders in the future. Time will tell.

Recap of PayPal’s mobile “Send Money” app

• Convenience at the touch of a button
• Only an iPhone and PayPal account is needed
• Application is free
• Instantly transfer funds by bumping mobile devices such as iPhones together
• No data stored in mobile phones; security assured for greater peace of mind

PayPal vs. Square vs. MoBeePay
Remember our previous blog post about Square which also advocates the usage of the iPhone as a payment processing device? With PayPal’s app, we are certain that Square and its founder Jack Dorsey will be doing all they can to encourage more users to tap into their services.

MoBeePay is also newcomer to the scene and is expected to put up a bit of a fight with their new payment processing innovations. Read about how they are revolutionizing the e-Commerce world with their mobile payment solutions here.

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Selling beyond the store
Today’s merchants are a savvy lot. Not only are they more innovative in selling, they are also more open to new concepts to elude tough competition in their respective industries. To enhance earning opportunities and boost sales, merchants have now taken to conduct mobile sales campaign that will take them outdoor and beyond their brick and mortar establishment to gain new customers and ultimately, better profits.

Unfortunately accepting credit card payments outside the store is not as easy as most merchants think. Online merchants who have previously been creative at crafting sales campaigns outside find that they are faced with a problem – how does one accept their customers’ credit cards outside the store? Consider this: a credit card processor is needed to complete the transaction. An exclusive phone network is needed to connect a terminal to the specific payment gateway. Besides, a credit card merchant account should be setup with a payment gateway. What can be done to fulfill these requirements needed to take advantage of the sales opportunities beyond the merchants’ store?

Mobile solutions on the go
The good news is that with the rapid improvements the world of technology is offering us, a new solution is in hand. If you own an Apple iPhone, you will be glad to know of the existence of credit card merchant account services applications. Once downloaded, this app will instantly transform your iPhone into a truly mobile virtual terminal! What’s more, it is compatible with most online payment gateways.

How it works
To obtain a merchant account with any online payment gateway, a setup fee has to be paid as well as monthly charges based on the transactions completed. Some will require merchants to pay a small percentage while others offer another solution in the form of a fixed monthly fee.

A credit card merchant services app for your iPhone can really do wonders for your business. It is convenient, efficient and without a doubt, secure. The payment process is very short but don’t let wary customers deter you from good business opportunities. You just need to explain how secure the application is, and that all sensitive information is encrypted for maximum protection. A card reader is not required when you have this app installed, thus saving merchants the cost of buying one.

Ultimately it is up to enterprising merchants to explore unchartered territories when it comes to selling beyond their brick and mortar stores.

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How would you like to use your iPhone as a credit card reader someday? For some, this may sound like an absurd idea but it has been announced that this could happen in the very near future! An innovative company called Mophie is set to revolutionize the credit card consumer and merchant industry by introducing a device that allows users to “read” their own credit cards when they purchase items. This gadget is connected to the iPhone and ultimately an iPhone app will be needed to make this possible but developing a suitable app poses no problem for developers, especially with the encouraging news that iPhone apps have been downloaded three billion times so far.

Mophie is well known for their iPhone accessories especially the best selling batter juice pack, an accessory that readily lengthens the iPhone’s battery life. Previously, Jack Dorsey, Twitter’s co-founder also announced plans to develop and propel Square, a similar service that lets users plug the cube-like credit card reader to the iPhone and use it to read and extract credit card information.

So what can consumers expect out of this? For one, it would mean that consumers no longer need to be overly concerned with credit card theft. In the past, many reports involving dishonest service personnel arose, whereby they would take the customer’s credit card and return a fake card upon transaction. This could also mark the beginning of an even more robust credit card industry. The device and app can be seen as a novelty idea at first but with proper care and marketing, this could bloom into something big…

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