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4 secure mobile credit card processors that accept Visa and Mastercard

With a growing trend of payment transactions being processed through mobile phones, credit card processors have ventured into platforms to provide secure payment gateways. The structure of mobile credit card processors is very straightforward and they accept Visa and Mastercard. Mechanisms and smaller devices have been created to smoothen the transfer of funds without any hassle.

While there may be many players in the market, only a handful stand out.

4 secure mobile credit card processors that accept Visa and Mastercard

Most-trusted mobile credit card processors
Following is a compilation of the best mobile credit card processors currently dominating the market. They accept the big guns of the credit card industry, which are Visa and Mastercard.

  • Square
    Features
    Square is a big player in the credit card processing industry with many loyal clients. Due to its low cost of installation and simple pricing system, it is very popular among small businesses.

Disadvantage
Square is not recommended for big businesses as the flat-fee payment could become very expensive for companies that undergo thousands of transactions on a weekly basis.

  • PayPal Here
    Features
    PayPal is one of the leading companies in the online payment solutions industry. Their product, Paypal Here, specifically targets a mobile audience and transacts money as well as accepts payments made via credit cards. PayPal Here accepts all credit cards, including Visa and MasterCard.

Disadvantage
The accessories for PayPal’s chip reader and other support equipment is expensive.

  • PayAnywhere
    Features
    With an unambiguous app with a plain design, PayAnywhere provides intricate details with respect to the fee system, inventory management, sales analytics, reports, and other financial tools for financial management. There is no monthly payment and it accepts Visa, Mastercard, and Amex.

Disadvantage
While normal credit cards have less than a 1% fee, business credit cards must pay a fee of more than 1% on a non-business card. PayAnywhere also expects the user to pull in sales/swipes of minimum $5,000 a month to avoid a penalty fee of about $80.

  • Intuit QuickBooks’ GoPayment Reader
    Features
    Intuit’s GoPayment Reader has a clean interface. The fee per transaction is a mere $0.50, and the app has various options to save records of transactions. It also accepts all credit cards and e-checks.

Disadvantage
The app is for robust businesses which deal in bulk transactions. Therefore, it may be an expensive option for small vendors.

Disclaimer:
The information available on this website is a compilation of research, available data, expert advice, and statistics. However, the information in the articles may vary depending on what specific individuals or financial institutions will have to offer. The information on the website may not remain relevant due to changing financial scenarios; and so, we would like to inform readers that we are not accountable for varying opinions or inaccuracies. The ideas and suggestions covered on the website are solely those of the website teams, and it is recommended that advice from a financial professional be considered before making any decisions.

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