You should also note that the data complexity of EMV transactions can lead to slower processing times. If your company swipes cards that have EMV chips, you could be held liable for any resulting fraud. This makes EMV mobile credit card payments significantly safer than magstripe payments. Since chip data dynamically encrypts customer payment information, scammers have a far more difficult time accessing this information. This term is the official name for credit card chip payment. As such, scammers can easily steal a customer's credit card information. This term is the official name for credit cards that customers swipe to pay – the term is a portmanteau of "magnetic" and "stripe." With magstripe mobile credit card payments, the customer's payment information is stored in the card's magnetic strip, where it is static and unencrypted. There are three types of mobile credit card readers: Key takeaway: A mobile credit card reader allows you to accept debit and credit card payments via a mobile device. These devices enable payment through traditional credit card swipes, chip payments or contactless payments. What is a mobile credit card reader?Ī mobile credit card reader is a device that you attach to your smartphone so that your phone can act as a credit card reader.
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It's a simple process that helps make payment processing easier for small businesses.Įditor's note: Looking for a credit card processor for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs. You don't have to bring a bulky credit card terminal or credit card machine to every event, as your mobile phone and the add-on device take up minimal space and can allow your business to make money.
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You can even take your products on the road to trade shows and accept payments at the show by using your mobile device and mobile credit card reader. With customers wanting to make purchases quickly and easily, small businesses are turning to mobile credit card readers to make it easier for customers to pay from anywhere with just a swipe.īy coupling your smartphone or tablet with a credit card reading add-on, it's easy to process transactions – whether you're at a conference, a client's remote work site or simply at home.