iPhone Credit Card Processing

The credit card processing industry is evolving along as quickly as the technology that facilitates it, making especially huge strides in how business owners can accept credit card transactions through their point of sale device. Mobile credit card processing has been available for a long time, but it carries a significantly higher cost. Not only do you need a wireless capable terminal, which can be very expensive, but you will need to activate a new sim card. The activation and monthly fees that come with it are comparable to adding another line on your cell phone plan.

They call the iPhone "the phone that changed everything" for a good reason. There seems to be no limit to the number of ways that this amazing device will revolutionize the way we live and work, and we see proof of that in one of the latest iPhone development efforts to enable mobile credit card processing through your smartphone by using a simple free app and card reader peripheral.

One of the big drawbacks to traditional mobile credit card processing, as I mentioned above, is the excessive costs. Especially when you consider that most mobile merchants are not processing a lot of transactions each month. These costs represent a much larger percentage of a few thousand dollars in volume than it does of $50,000 in volume. They eat into the margins of the smaller merchant accounts who tend to utilize this technology. With an iPhone merchant account, you can effectively eliminate these extra fees, whether you process 10 transactions per month or you process 1,000. Here's how it works:

For iPhone credit card processing, there are two pricing structures to choose from. For those businesses who are only going to run a handful of transactions each month, the goal is to eliminate activation fees, monthly fees and monthly minimum charges. On only a handful of transactions, these three line items will most likely eat into your entire profit margin.  In these scenarios, we have come up with a flat discount rate and transaction fee that can be applied to all of your transactions.

For those businesses who plan on having several mobile sales people all equipped with this technology, you'll be willing to commit to some monthly minimums in order to negotiate the lowest credit card processing rates and fees.

No matter which route you choose, there is no activation fee and no recurring monthly fees for a new sim card or to utilize this technology. This is because the technology piggy backs on the data plan that you have already paid for through AT&T or Verizon. All you need is to download a free app from the Apple app store and get a free peripheral device for your phone that swipes credit cards and captures cardholder data.