Top 4 Mobile Payment Apps To Expand Your Customer Base

Posted on Dec 5 2013 - 10:41am by Brian Flax

PayPal Here

Mobile payment applications allow companies to take payments from current and potential customers whenever they have access to a smartphone or tablet and an Internet connection. For companies with employees who travel frequently, having access to a mobile payment app while on the road can help increase sales and bring in new customers. This is especially true for companies that attend trade shows or routinely conduct business outside of the office.

Syncsort, for example, a company that provides data integration software, routinely looks for and obtains sales opportunities while on the road and while attending events. To save time and secure new business quickly, Syncsort could use a mobile payment app such as Intuit Pay or Square to accept credit cards, debit cards, and even PayPal transactions whenever they sign up a new customer. By accepting mobile payments, Syncsort has quick access to the customer’s funds, while the customer receives access to the software solution – a win-win for both parties.

Small local businesses can also benefit from using a mobile payment app. Since most mobile payment providers have no monthly fees and provide free card readers to their customers, small business owners can avoid the costs associated with purchasing a point-of-sale terminal by using their smartphone, tablet, or computer along with a mobile payment provider, instead. Since these point-of-sale systems are completely mobile, business owners can accept payments whether they’re at the store, on the road, or attending a local event.

Let’s take a look at the top four mobile payment apps that can help increase your sales and expand your customer base.

1. Square

Square is a mobile payment app available for iOS and Android devices that includes a free credit card reader when you sign up for an account. To take credit card payments, simply attach the card reader to the headphone jack on your device and launch the application, which can be downloaded from the iOS App Store or Google Play.

Square charges a flat 2.75 percent per transaction whenever a credit card is swiped using the card reader. If you need to manually enter a credit card number, Square charges 3.5 percent per transaction plus 15 cents. Square has no sign-up or monthly fees, cancellation or chargeback fees, and no fees to electronically transfer funds to your personal or business bank account. Payments received before 5pm PST are available for deposit into your bank account the following business day.

In addition to accepting payments, you can use the app for item management, first visit offers and rewards programs, in-app reporting – and even print receipts or use cash drawers with compatible equipment. Square is designed to completely replace your POS system with the added benefit of going wherever you conduct business.

Learn more about Square by visiting the website.

2. PayPal Here

PayPal Here is very similar to the Square app, giving users a free credit card reader when they sign up for an account. In addition to accepting Visa, MasterCard, American Express, and Discover, PayPal Here allows businesses to take payment using their customer’s PayPal account.

PayPal charges 2.7 percent per transaction when using the card reader, or 3.5 percent plus 15 cents per transaction when entering the card manually. One percent per transaction is added whenever a non-US card is used. Since the app is connected to your businesses PayPal account, funds are available almost immediately. You can transfer the funds to your bank account for free, use a PayPal debit card to access the funds, or request a paper check for a small fee.

PayPal Here supports multiple users per account, perfect if you have more than one location or employees on the go who need to take payments on your behalf. Need additional POS features not included in the standard PayPal Here app? PayPal has teamed with Booker, ERPLY, Leaf, Leapset, NCR Silver, and Shopkeep POS to provide advanced point-of-sale features integrated with the PayPal mobile payment app.

To learn more about the PayPal Here app or to sign up, visit the website from your computer or mobile device.

3. Intuit GoPayment

Intuit GoPayment offers both a Pay-As-You-Go and a Pay Monthly & Save plan. With either account, you’ll receive a free card reader compatible with iOS and Android devices.

The Pay-As-You-Go account is charged per transaction – 2.75 percent for swiped cards, or 3.75 percent if the card is manually entered. You can also choose the Pay Monthly & Save plan currently offered for $12.95 per month. The monthly plan reduces the per-transaction fee to 1.75 percent for swiped cards and 2.75 percent for manually entered cards. Credit card payments are available immediately, allowing you to email or text the receipt directly to your customer.

Intuit GoPayment allows you to add up to 50 users on one merchant account, perfect if you have employees who make sales in the field, or own a business with multiple locations. Visit the Intuit GoPayment website for more information or to sign up.

4. PayAnywhere

Another mobile payment app, PayAnywhere works much like the previous three. Business owners sign up for a merchant account and receive a free card reader to accept mobile credit card payments. In addition to iOS and Android support, PayAnywhere is compatible with Blackberry smartphones.

PayAnywhere claims to have the lowest swiped rates in the pay-as-you-go industry, currently at 2.69 percent per transaction. Manually entered cards are charged 3.49 percent per transaction plus 19 cents.

As an added bonus, PayAnywhere has an open API, meaning it can be fully integrated into your business’s mobile app just by entering a few lines of code. Not only can you accept mobile payments no matter where your business takes you, but your customers can make in-app purchases, helping to increase sales and overall exposure.

PayAnywhere can be purchased from Lowe’s, Walmart, and Home Depot. For a full list of participating retailers, visit the PayAnywhere website.

No matter the industry, accepting mobile payments can be a vital tool to increase exposure and sales when you’re in the field. Most apps are available as a free download and include a credit card reader, so why not give it a try today?

Photo Credit: Flickr/Beau Giles

About the Author
Brian Flax

Brian Flax is a freelance writer based out of the Washington, D.C., area. He is experienced in a variety of topics including education, mobile apps, and Internet technology. Follow @BrianFlax on Twitter.