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The mobile credit card market is emerging as one of the main distributors for new and innovative payment models. This trend has been on a steep incline in recent years, with consumers embracing the convenience, security, and speed these services offer to meet their everyday needs.
Merchants may sell items and take card payments practically anywhere using smartphones or tablets with mobile credit card processing. The best mobile credit card processor should be dependable, provide low transaction costs, have free company management software, and work in offline mode.
The following are the best mobile credit card, processors:
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Square is the most comprehensive payment solution available.
For its free iPhone and Android processing options, economical and high-tech mobile card readers, and feature-rich payment software, we suggest Square as the most refined all-around mobile payment processor.
PayPal is a close second
While Square came out on top in all of our mobile payment processing reviews, it’s far from the only viable option. In practically every case, PayPal came in second place to Square.
The Methods We Used to Evaluate Mobile Credit Card Processing Solutions
The best mobile credit card processor is easy and flexible with minimal upfront expenses and affordable processing rates. It must also be dependable—you must be able to rely on it in various situations, including those with a shaky internet connection.
We compared 11 mobile credit card processors based on pricing, simplicity of usage, POS app, dependability, and account features before narrowing the field to the top five.
15% of the overall score
Mobile processors must provide month-to-month billing with no contracts, zero cancellation fees, chargeback costs, monthly minimums, or stringent application procedures to obtain a perfect grade.
25% of the overall score
Each mobile processor received points for each sort of payment it could accept, including point-of-sale, invoicing, virtual terminal, and contactless payments. Mobile applications with split tender choices and customizable tipping alternatives also received points.
20% of the overall score
The top mobile processors can handle payments over the phone, work with iOS and Android devices, send SMS and email receipts, and manage product catalogs. The finest systems also come with free POS software that includes company management features like reporting.
20% of the overall score
We looked for mobile processors that offered free customer assistance 24 hours a day, next-day deposit timings (or faster), several card reader alternatives, and efficient sales tax management.
20% of the overall score
Each system was evaluated on its overall price transparency and value, the convenience of use (including account stability and the user interface), popularity (including user reviews and company owner testimonials), and ability to integrate with other popular business tools (like accounting software).
Square: The Most Versatile Mobile Credit Card Processing App
Square
4.78 OUT OF 5
Pros
- Competitive rates
- Chargebacks are simple to contest.
- Top-rated POS software is available for free.
- There is no need to fill out an application or wait for approval.
- Mobile, in-store, and internet sales platforms are all available.
Cons
- For huge corporations, it is too expensive.
- Instability in the accounts
- Customer support might be tough to contact.
- It is not recommended for high-risk or high-volume operations.
Pricing
- Fee per month: Fee per month: A monthly fee is charged.: $0
- Card reader: Free magstripe, $49 chip & tap
- Transactions with a card-present: 2.6 percent + 10 cents
- 3.5 percent + 15 cents for keyed-in transactions
Features
- For a 1.5 percent charge, you may get instant payments.
- Invoicing is entirely free.
- Payments through QR code
Square is the most refined credit card processor for small companies on the go. There are no monthly or starting expenses with the mobile payment processing option, and the application is simple—there are none. While you wait for the free credit card reader to arrive, you may get up and running quickly using the free POS software. The program works offline, is available for Android and iOS, and has fast processing speeds. In addition, the POS program comes with complimentary company administration software.
PayPal is the best option for one-time payments.
PayPal
4.56 OUT OF 5
Pros
- A safe and secure environment
- It’s simple to set up and utilize.
- For little transaction values, it’s affordable.
- Payouts are made instantly to your PayPal account.
Cons
- Issues with account stability
- Inventory management features are limited.
- Payments swiped, and keyed-in have a weekly restriction.
- Funds may be frozen at any moment; funds above the weekly limit are subject to a 30-day hold.
Pricing
- Fee per month: Fee per month: A monthly fee is charged.: $0
- $24.99 for a card reader
- Transactions with a card-present: 2.7 percent
- 3.5 percent + 15 cents for keyed-in transactions
Features
- Payouts are made within 1-2 business days.
- Payouts are made instantly to your PayPal account.
- Catalog of simple products
- Set the tax and tip percentages.
PayPal was only solely available online, but it has recently expanded to include in-person payments, including a mobile credit card processor known as PayPal Here. PayPal’s price is more transparent and competitive—simply, it’s a flat percentage, which works well for lesser transaction amounts. PayPal works with several platforms and takes several different payment methods. It’s also noted for having a solid security system.
Clover is the best option for those who already have a merchant account.
Clover
4.17 OUT OF 5
Pros
- Works with several different merchant accounts
- In iOS, it’s possible to scan barcodes.
- Smartphone point-of-sale
Cons
- The cost and length of your contract may vary depending on who you sign up with.
- A monthly fee is charged.
- Customer service is lacking.
Pricing
- A monthly fee is charged.: $9.95+
- $69 for a card reader
- Transactions with a card-present: 2.7 percent + 10 cents
- 3.5 percent + 10 cents for keyed-in transactions
Features
- Multiple workers and authorization levels may be added.
- App store with a lot of options
- Processing in the background
Clover offers everything a standard mobile processor does, including payment processing, inventory management, and analytics reporting. However, after Square, Clover has the most feature-packed point-of-sale app on this list. Specific plans include credit card pre-authorization, Deposits made the next day, detailed item library, exchanges, and a weight-scale integration.
Clover is unique in that it does not need a standard merchant account. You may open an account with Clover’s owner, First Data (Fiserv), or one of its approved resellers. Depending on whatever merchant account service you pick, the cost and assistance you get might be quite different.
Fattmerchant’s Stax is the best for growing businesses
Fattmerchant’s Stax
Overall Score: 4.13 OUT OF 5
Pros
- Software that is simple to use
- Stable merchant account
- Customer service that is quick to respond
Cons
- A high monthly fee is charged.
Pricing
- Fee per month: Fee per month: A monthly fee is charged.: $0 for starter plan
- $100 for a card reader
- Transactions with a card-present: 2.9 percent + 8 cents
- Transactions entered by hand: 2.9 percent + 15 cents
Features
- Scan card payments using your smartphone.
- Software for invoicing, billing, and recurring payments
- Text2Pay
- Funding is accessible right now.
Fattmerchant’s Stax has a small business plan for merchants processing under $80,000 annually. Still, you get the best value once you’re processing over $15,000 monthly and fall under Fattmerchant’s Stax’s interchange-plus pricing. At that point, you’ll pay $99 each month and interchange plus 8 to 15 cents per transaction.
Like Clover and Payments Depot, Fattmerchant’s Stax is also a traditional merchant account, meaning you’ll need to apply. The trade-off is a very secure merchant account (in other words, no frozen funds) with excellent customer support.
Payment Depot: A Low-Cost Alternative for Established Businesses
Payment Depot
Pros
- All payment options have low transaction costs.
- Transparent pricing
- Payment gateway and virtual terminal are both free.
- Billing is on a month-to-month basis with no cancellation fees.
- Money-back guarantee for 90 days
Cons
- A monthly fee is charged.s starting at $49
- For high-risk enterprises, this is not the best option.
- Businesses that handle less than $10,000 per month may be denied approval.
Pricing
- A monthly fee is charged: $49+
- $99 for a card reader
Features
- SwipeSimple is used for mobile payments.
- Payments are made within 1–2 business days.
- Reports on basic analytics
Unlike most other processors on this list, Payment Depot is a dedicated payment processor. Therefore, its security, reliability, setup, and costs are attractive for merchants of all sizes, especially established ones. Payment Depot uses a subscription-based model, which means businesses pay a monthly fee is charged.
Payment Depot partners with SwipeSimple for mobile payments, and the app works offline like Square and PayPal. With the SwipeSimple mobile payments app, you can add tips, save payment information, use a product catalog, and Return from the procedure. You can also view analytics reports.
Conclusion
Whether you’re a startup trying to get started with mobile credit card processing or an existing retailer looking to expand, you’ll need a solution that’s cost-effective, dependable, and simple to use. There are no monthly transaction minimums, fees, or commitments with the finest services.
For small companies, Square is an excellent mobile credit card processing service. Its plug-and-play system makes accepting payments anywhere, even offline, very simple. It’s a risk-free investment since there are no applications, setup fees, or hardware changes.
