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Could Mobile Transactions be Right for You?
Have you heard of Square, GoPayment, or PayPal Here? If you own a business or you are looking to pursue an entrepreneurial venture then these three software applications could greatly benefit you and your customers. The idea of all of these applications is to allow you to process credit transactions on your smart phone or iPad. The main benefit of being able to take credit on a mobile device is the portability and convenience. Accepting credit is practically expected in today’s world. Most shoppers prefer to carry less cash and may turn down a buying opportunity if they cannot charge it. If you own a small business or provide a service that does not have a brick and mortar location, then you really need some way to accept credit just like a storefront would. Square, GoPayment, and Paypal Here provide less hassle for you too. Taking credit is quick, easy, and you could carry less cash. There are a few drawbacks to mobile credit, but they do not seem to outweigh the positives. One main issue could be security breaches and technical issues. Using your mobile phone or iPad to transfer credit card information could potentially be an unsecure network. You should also keep in mind that your phone could die or stop working. Luckily, these applications are an additional advantage to your business if you do not already accept credit on-the-go, so it should not hurt you too much if there are minor technical issues. There is also an extra charge to accepting credit, but this is applicable whether you accept credit on a mobile device or in your store with a credit card terminal. The tradeoff between prices of each application is very similar. Each one charges a percentage of sale, or with Square and GoPayment you can pay a flat rate each month, but that will only benefit you if you are bringing in a large amount of money. Square and GoPayment both charge 2.75% on each sale, and PayPal charges 2.7%. In conclusion, these three applications are worth looking into depending on what your business needs are. Technology is constantly on the rise so make sure you are keeping up with the trends.