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Accepting credit card payments has never been easier for small businesses. In addition to using credit card terminals and point-of-sale (POS) systems, you can accept payments on your mobile devices. It requires signing up for an account with a payment processor that offers mobile credit card processing, downloading an app and purchasing a mobile card reader.
Editor’s note: Looking for the right credit card processor for your business? Fill out the questionnaire below to have our vendor partners contact you about your needs.
Can I use my phone to process credit card payments?You can accept credit card payments on your phone by partnering with a payment processor that offers top mobile credit card processing solutions. Two of the most popular brands are Square and PayPal; each company offers mobile credit card readers and pay-as-you-go terms specifically for mobile credit card processing.
Tip
You can learn more about some top mobile credit card processors in our review of Square and our PayPal review.
Accepting mobile credit card payments can offer your business a cost-effective way to accept card payments. Another benefit is that you can accept cards at events or even throughout your establishment, such as a restaurant that accepts payments tableside. For companies that don’t yet accept card payments, opening an account and purchasing a card reader from a payment facilitator – such as Square, SumUp or PayPal – is an easy solution. For organizations that already process credit cards using a highly rated POS system, mobile credit card payments can generally be set up through your current full-service payment processor. [Related: Understanding PayPal Credit Card Fees]
Working with a payment facilitator is generally easy and straightforward. Most businesses fill out a form online. There are often no credit checks or requirements to submit processing statements or marketing materials, which is helpful for companies looking to accept credit cards for the first time.
Partnering with a full-service processor for mobile credit and debit card payments can be more complicated, though, as you will likely need to apply for an account. These companies require more information and documentation, but sales reps are eager to work with you and often offer to help fill out the application over the phone.
Once this is submitted, there is generally a waiting period prior to approval. If you don’t meet the processor’s standards, your application could be rejected.
How to accept credit card payments on your phone, step by stepFollow these steps to accept credit card payments via your phone:
1. Sign up with a credit card processor.If you do not already accept credit cards, you will need to get a merchant account with a top credit card processor or an account with a credit card facilitator – like PayPal or Square. Make sure that the processor provides mobile card readers and supports mobile payments.
2. Download the payment app.Each processor or facilitator has its own payment app. You will need to download it from the processor and provide basic information about your business. Some companies allow you to get the app first and sign up for an account within it.
3. Get a mobile reader.Many processors provide a free mobile credit card swiper so you can begin accepting payments, but you should order a mobile credit card reader that accepts chip cards, as they deter counterfeit fraud. This technology shields you from liability if you unknowingly accept a fake card. You may also want to get one that is enabled for NFC payments, which allow you to accept tap cards, digital wallets and payment apps – such as Apple Pay and Google Pay.
Mobile credit card readers connect to your phone through either Bluetooth or your phone’s headphone jack. When you accept card payments, the transactions are encrypted and transmitted to the processor, and no sensitive card data is stored on your phone.
4. Enable a virtual terminal.If you do few mobile transactions and prefer to avoid buying a mobile reader, you can still accept payment by phone with a virtual terminal. This is usually a secure webpage hosted by the payment processor where you manually input the patron’s credit card information. Although nearly every payment processor has this capability, you will probably have to enable it within your account. The exception is when it is incorporated into the mobile payment app, which will generally allow you to do this without additional setup.
5. Determine which credit card information is needed.This only applies if you are using a virtual terminal and may include these items:
Credit card number
Expiration date
CVV
Customer’s name as it appears on the card
Customer’s billing ZIP code
Customer’s billing address
6. Enter the order.Enter the order into the virtual terminal or process the customer’s card with the card reader.
7. Process a receipt.Send the customer a receipt or print one out if you have a mobile receipt printer. Most payment apps and virtual terminals give you the option to email receipts.
After the transaction is settled, the money is deposited into your bank account, minus the processor’s fee.
Benefits of accepting credit cards by mobile phoneAccepting mobile payments is not necessary for every industry, but in many instances it expands where you can do business and enhances your checkout process. Here are some benefits of mobile credit card processing that might apply to how you conduct business:
Provides customer convenienceIf you have a mobile business – such as a food truck, a home services company or a craft vendor selling at farmers markets – the ability to accept credit cards with your mobile phone is a must. Expanding the payment type that you accept beyond just cash is more convenient for your customers because few people carry cash anymore. When you make it easy for customers to buy from you, sales revenue increases.
Extends flexibilityEven if your business has a fixed location, having mobile payment capability can give you the flexibility to try out new venues. For example, if you have a restaurant, the ability to take credit cards with your Android device or iPhone will allow you to participate in food festivals. Clothing and jewelry stores with mobile payment capability can try out pop-up shops and trunk shows. Even sales consultants can accept payment when visiting client locations.
Shortens customer wait timesSome fixed-location businesses utilize mobile payment equipment to quicken the checkout process. This is a good strategy for high volume businesses and those running popular promotions that result in long checkout lines. When customers have a lengthy wait to pay, some of them will decide it’s not worth the purchase. However, if you have cashiers with mobile payment devices attending to customers in line, you can significantly reduce wait time and reap all of the sales.
Closes the saleIf you have the type of business that requires customers to place a deposit to initiate a sale – such as a roofing contractor – accepting mobile payments can improve your closing ratio. Rather than giving customers a lag time in which they may reconsider their decision, your rep can accept payment while in the customer’s home or business. This reduces cancellations and speeds up the sale.
Improves bill collectionInstead of chasing down overdue bills or waiting for customers to mail you a check, you will be able to accept payment at the time of service. Having customers pay on the spot saves you time and money, and helps you avoid write-offs for bad debt.
Offers instant access to your financial dataIn addition to mobile credit card readers, you will have a smartphone app that shows you all of your sales, product and customer data at all times. If you need to make a decision or need that information for a third-party the data is at your fingertips.
Did You Know?
Credit card fees are higher for transactions manually inputted into a virtual terminal than they are for those processed through a credit card reader, because they are less secure and more prone to human error.
PCI compliance: The Payment Card Industry (PCI) sets strict regulations to ensure that your credit card transactions are secure to prevent fraud. You are required to annually certify as compliant, and most full-service processors charge a fee to help you do this. It is usually billed annually and costs approximately $100.
PCI noncompliance: If you fail to comply with PCI standards, you’re charged this fee monthly until you certify. This fee is quite high – sometimes $50 or more – to discourage you from letting your PCI compliance lapse.
Monthly minimum: Some processors charge a monthly minimum, which means you must process a certain dollar amount of transactions each month. For example, if the monthly minimum is $25, and you only have $12 in processing fees, you will be charged an additional $13. Remember, the minimum is usually based on processing fees – not transaction value – so you need to check with your processor about how much you must process each month to meet the minimum.
How can you accept credit card payments without fees?There are always processing fees associated with accepting credit card payments – the banks, credit card networks and processing companies all want a small cut of every transaction you run.
In some states, you can pass transaction fees on to your customers as a surcharge, but the laws around this are tricky, so you should consult a lawyer before doing so. You should also be aware that this strategy could be a turnoff to your customers.
FYI
The best way to handle the expense of accepting credit cards is to build it into your pricing. The alternative is to set a minimum purchase requirement for customers who pay by credit card. [For information on a processor that offers low transaction rates, read our review of National Processing.]
You're reading Accepting Credit Card Payments On A Mobile Phone
Apple Card: How To Use Apple Credit Card With Apple Pay
Apple Card: How To Use Apple Credit Card With Apple Pay About the Apple Card:
RECOMMENDED CREDIT SCORE –
ANNUAL FEE – No Annual Fee
REWARDS EARNING RATE – Earn 3% for every $1 spent at Apple.
Earn 1% for every $1 spent on all other purchases.
FOREIGN TRANSACTION FEE – 0%
Best For:
If you shop a lot on Apple store, this card is worth a swipe as the rewards will be higher and will be accumulated in your Apple Wallet. If purchasing outside of Apple or without Apple Pay Wallet, one should better use other card options with no-annual-fee and pay 1.5% or 2% cashback on all purchases clubbed with a variety of benefits.
Pros ConsFinancial-management too Useful only for Apple users
Great rewards rate on Apple Pay purchases Titanium Apple Card only offers 1 percent on non-Apple purchases
3 percent cash back on purchases from Apple Other credit cards offer better Rewards & Benefits
Beautiful and practical credit card app interface
Low end of APR range is among the best
Gorgeous titanium Apple Card
No annual fees
Final VerdictApple Card is a trending credit card experience with new features, however, it’ll benefit you only if you shop a lot on Apple store. Apple credit card will tempt you to stick with Apple devices and services.
APPLE CARD’S ADDITIONAL INFOMAX LATE FEE None
MAX OVERLIMIT FEE None
MAX PENALTY APR N/A
GRACE PERIOD Unknown
ONLINE RESPONSE No
CASH ADVANCE APR N/A
CASH ADVANCE FEE None
FOREIGN TRANSACTION FEE 0
SMART CHIP Yes, unknown
Apple Now
Rewards on Apple Credit Card:
Discover cashback of 3% on Apple products
Discover cashback of 3% through selected merchants like Uber and Uber Eats, though Apple says they have plans to add more.
Discover cashback of 2% on all purchases you make through Apple Pay Wallet App
Discover cashback of 1% on everything else when you use the physical card made out of titanium.
Tip: “Apple Card comes with a Credit Card debt tool that calculates and shows the amount you pay each month affects the amount of interest you owe to Apple.”
Learn More About Apple Credit Card
Most Useful For People who want
Superfast credit approval
Analyze their shopping habits
A sleek & unique statement interface
A credit card to suit their Apple fans lifestyle
Instant ability to pay off the balance right from their iPhone
A profound understanding of what paying off a balance means
Continuous communication with their credit card activities
Fast access to Daily Cash reward payouts
Reminder alerts to pay bills
Apply Now
Not Useful For People who want
To use an Android / Windows phone
To evade being exposed to more debt buildup
To avoid being made fun of for having an Apple Card
To use third-party mobile wallet apps
Does Apple Card Affect Your Credit Score?There have been rumors that the Apple credit card will put an impact on your credit scores. Well, it’s plain and simple, when you tap to apply for the Apple Card and fill out your information, add your social security number and annual income, Goldman Sachs doesn’t pull a hard inquiry on your credit.
“You’re pre-approved for a new Apple Credit Card”
By applying for Apple Credit Card, you are simply asking for a pre-approval of your Apple Credit Card.
If you’re declined, it does not affect your credit score.
If you’re approved and you accept the offer, Goldman Sachs does a hard inquiry, which may have an effect on your credit score.
How Long Does it Take to Apply?It’s much easier to apply for an Apple Credit Card than to apply for any other bank’s credit card. No paperwork, form filling, website visiting, store visit is required to apply for Apple Card.
It’s all set up by Apple Pay. From start to finish, including acceptance of the offer, it takes about three minutes. The actual wait time to get an approval is about 30 seconds.
“Yes, you can use Apple Card to pay for anything!”
Apply Now
Instant NotificationsWhenever we install a new app we immediately disable any notification offers. But, for Apple Card, You would love seeing all activities appearing right on your Lock screen, regardless it’s a transaction or an update to your Daily Cash rewards, or a reminder to pay your bills.
When we get a transaction notification, it’s like getting a receipt sent directly to our phone, confirming that the transaction went through. It’s very satisfying.
Fees Levied“It’s All Free except Interest Charges!”
Redeeming RewardsDaily Cash automatically accumulates on your Apple Cash Card account, which you can use for any purchase that you pay for with Apple Pay gift card. Users without an Apple Cash Card account can redeem their Daily Cash as a statement credit on their monthly bill.
Security FeaturesNumberless Credit Card: Both the physical and virtual Apple Credit Card have no numbers labeled on them. For non-Apple Pay transactions on apps or websites needing a card, the Apple Wallet app or Safari web browser auto-fills a virtual card number.
Integrated Map Data: Tap a transaction you don’t recognize to pull it up in Maps and see where it occurred. It helps remind the purchase or claim for a refund if it’s still unknown.
Apply For Apple Credit Card
Wrapping UpIf you hate waiting in a queue or want to save on the Apple store, Apple Credit card will actually help you save a lot of money in your Apple pay wallet. However, if your spending more on other marts, Apple credit card won’t be a good option. It’s good to have an Apple Card to flaunt and to get those additional savings on all Apple purchases. Sadly, for Android users, this isn’t an option to consider.
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Next Read: Get Apple Student Discount on Macbook And Other Apple Products
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Raj Soni
10 Best Credit Card Payment Services For Smbs
Small business owners must make thousands of decisions when starting a business and running its daily operations. Deciding to accept credit card payments is a crucial choice that spurs another critical decision: What credit card payment processing service should you use?
Choosing a credit card payment service entails evaluating credit card processing fees, approval rates, equipment and more. To help small business owners select the right credit card payment service, we’re highlighting 10 trustworthy options that provide a unique range of services and options to help you choose the right processing partner for your needs.
Tip
Credit card processing fees are tax deductible, so itemize these costs on your tax returns.
The best credit card payment services for small business ownersThe best credit card processors have reasonable fees, pay you quickly, and support your business with excellent customer service. Consider the following 10 services as you search for your credit card processor.
1. HelcimHelcim provides services and equipment for brick-and-mortar and online businesses, including EMV-compliant and NFC-capable terminals. There’s also a card reader for accepting credit card payments on mobile devices and a virtual terminal for online transactions.
Helcim has a robust software interface that gives merchants tools most other credit card processors charge extra for, such as POS system capabilities. With Helcim, POS software is free, and there are no monthly fees. Helcim also gives new merchants a free online store.
Helcim has a transparent interchange-plus rate structure, charging 0.3% plus 8 cents per transaction for card-present transactions and 0.5% plus 25 cents per transaction for keyed-in transactions. These fees are in addition to the interchange rate every merchant must pay.
To learn more, read our in-depth review of Helcim.
2. Stax by FattmerchantIf you have an established company with a high monthly transaction volume, Stax by Fattmerchant may be the processor for you. It works on a subscription model; you pay a monthly fee for your required functionality level. Plans start at $99 and go up to $199 monthly. You’ll pay a small markup on interchange rates of 0% plus 8 cents for in-person transactions and 0% plus 15 cents for e-commerce and other keyed-in transactions.
Stax notifies you in real time when online invoices are paid and automatically displays the lowest-rate payment option on e-commerce payment pages.
Our review of Stax by Fattmerchant provides more details about the service.
Did You Know?
Credit card processors can also help businesses accept other payment forms, such as mobile wallets like Apple Pay, Samsung Pay and Google Pay.
3. SquareSince 2009, Square has helped small businesses – no matter where they’re located – accept credit cards thanks to its innovative card reader. (This longevity has contributed to its popularity and given rise to Square vs. Shopify comparisons).
Today, Square offers a wide range of credit card terminals that let businesses process payments in-person or online. It also provides a helpful dashboard for sending invoices, viewing analytic reports, and managing inventory. Square is an excellent choice for startups since it has a high approval rate.
The mobile card reader is free for new merchants, but Square charges a flat rate of 2.6% plus 10 cents for in-person transactions, 2.9% plus 30 cents for online payments, and 3.5% plus 15 cents for keyed-in transactions.
Check out our Square review to learn more about custom rates and additional options.
4. Merchant OneMerchant One has a 98% approval rate for new merchants, even those in high-risk industries. To account for various risk factors, Merchant One has custom pricing on credit card processing rates and fees. Monthly fees start at $6.95, but there is also a $99 annual fee.
Merchant One uses interchange-plus processing rates that range from 0.29% to 1.99% per keyed-in transaction and 0.29% to 1.55% per card-present transaction.
Additionally, Merchant One’s software interface gives merchants a high degree of functionality, including gift card and customer loyalty programs, business texting for marketing, and a free shopping cart.
Our Merchant One review provides more information about the company’s features, services, and software integrations.
5. Chase Payment SolutionsChase is one of the largest banks in the United States and issues its own credit cards as an acquiring bank. This allows it to give its merchants near-immediate access to the funds they generate from credit card sales – sometimes on the same day. For small businesses, that quick access to funds can make a big difference in managing cash flow.
Chase has no monthly fees, but its rates are higher than some other processors. It charges 2.6% plus 10 cents for in-person transactions, 2.9% plus 25 cents for online transactions, and 3.5% plus 10 cents for keyed-in transactions.
Our in-depth Chase payment solutions review goes into more detail about its features, services, and processing equipment options.
6. CloverClover’s card readers and POS hardware and software are the industry standard and are resold by many other processors. In addition to its traditional POS system, it has specialized versions for retailers and restaurants. It also integrates with over 500 third-party apps to let you seamlessly run your entire operation.
Clover uses a tiered pricing model with three different plans, each with a monthly fee ranging from $9.95 to $49.90. Processing rates range from 2.3% to 3.5% plus 10 cents per transaction and functionality. Additional POS stations cost $9.95 monthly.
Our full Clover review explains more about onboarding your business and implementing the system.
7. Payment DepotLike Stax, Payment Depot has subscription-based pricing with minimal markup on interchange rates, making it an excellent choice for high-transaction-volume businesses. Subscription plan membership fees range from $59 to $99 monthly. Processing rates are 0% plus 5 to 15 cents per transaction.
Payment Depot’s pricing structure differs from other processors that charge a higher flat percentage rate plus a per-transaction amount, sometimes with higher monthly fees. Payment Depot also has fast payout, with funds from transactions settled by 8:30 p.m. EST available the next day.
Read our in-depth Payment Depot review to learn more about this company’s terms, features and pricing.
8. PaySafePaySafe is a lesser-known payment processor with unique benefits for small businesses. For example, PaySafe lets merchants accept more payment types than any other processor, including cash and transactions in over 100 international currencies.
Unlike other processors, PaySafe lets you accept payments from people who don’t have a debit or credit card – or even a bank account. If a large portion of your customer base falls into this category, then PaySafe is the best processor for you.
9. Flagship Merchant ServicesFlagship Merchant Services is one of the most well-known credit card processing companies. It lets businesses accept credit card payments by phone, mobile card reader, POS terminals and online. While it doesn’t publish its fees or rates online, Flagship is so confident in its pricing competitiveness that it promises a $200 American Express gift card if it can’t meet or beat competing offers.
Flagship also helps merchants use branded gift cards and customer loyalty rewards programs to boost sales. Learn more in our detailed Flagship Merchant Services review.
10. PayPalPayPal was the original digital wallet and online payment platform and still has a vast user base of more than 246 million people worldwide. PayPal has become a powerhouse in the credit card processing industry with nearly ubiquitous integration into e-commerce platforms, making it easy for your business to accept credit card payments with PayPal.
Like Square, PayPal has close to a 100% approval rate for new merchants. It charges a flat rate of 2.7% for in-person transactions, 3.5% plus 15 cents for manually keyed-in transactions, and 2.9% plus 30 cents for e-commerce or digital invoice transactions.
Our PayPal credit card processing review offers more information about its low fees, special pricing and other features.
Did You Know?
Credit card processing rates and fees are often negotiable, both at the beginning and after establishing a positive relationship with the payment service.
How to choose a credit card payment serviceThere are many factors to consider when choosing a credit card payment service; a service that’s perfect for another business may not be suitable for you.
When researching credit card payment services, narrow your list to reputable companies with good customer service and few merchant complaints. Then, consider the following factors:
Approval rateGenerally speaking, credit card payment services are risk-averse. They prefer not to do business with these types of clients:
Startups
Companies with no history of processing credit card payments
Business owners with poor credit or little business experience
Businesses in industries they consider to be high risk
These are some industries often classified as high-risk business:
CBD and cannabis
Online gambling
Credit repair and debt consolidation
Affiliate marketing
Auto warranties
Beauty, skin care and hair care
If your business falls into one of these categories, your list of possible credit card payment services narrows considerably. Even if your application is approved, some credit card processing companies will charge you a higher processing rate and fee, at least until you have established a good history with them.
Processing rates and feesCredit card payment services make money in several ways, including processing rates and monthly or yearly fees.
In general, processors that charge high monthly fees charge low processing rates, and vice versa. These two pricing models benefit different businesses.
Low or no fees and high processing rates: Small businesses with low transaction volumes end up paying less with the low-to-no fee/high-rate model. When they have low sales, they pay very little because fees are based on sales volume. Seasonal businesses also benefit from this structure. For example, a snow ski rental business only makes money during the winter. It would be a waste to pay fees for the spring, summer and fall months when it has no revenue.
High fees and low processing rates: Established companies with high transaction volumes benefit from subscription-based, interchange-plus pricing. Because they are processing so much each month, they want their processing fees to be as low as possible. They can easily absorb the monthly fee, if there is one.
In other words, businesses that sell fewer but more expensive items – like furniture stores – prefer a low processing rate and higher per-transaction flat rate. Companies with many smaller transactions monthly – like a dollar store – would prefer to pay a higher percentage on the processing rate and a lower (or zero) flat per-transaction amount.
Tip
To save money on credit card processing fees, consider charging a convenience fee, raising your prices slightly to cover the additional cost, or setting a minimum purchase amount.
SoftwareSome businesses use their payment processor’s software to run their business, while others don’t need this much functionality. Services like Helcim, Stax and Clover provide robust features, including customer management, employee tracking and management, inventory management, digital invoicing, gift cards and loyalty programs, and membership billing.
Usually, all-encompassing services charge higher monthly fees based on the functionality you need (except Helcim, which charges no monthly fees). If you need specific software functionality, it may make sense to pay for it through your provider instead of buying individual software packages. However, if you have a very straightforward business, you probably won’t need so many robust features, and it won’t make sense to pay for them.
Credit card processing equipmentIf you do any in-person business, you probably need a credit card reader. However, if you’re strictly e-commerce or phone sales, you only need a virtual terminal (a secure payment interface in a web browser).
Equipment can be as simple as a single Bluetooth-connected mobile reader or as complex as a multilocation POS system with multiple stations. It may be important to you that your customer-facing equipment is attractive and easy to use, as with a touch screen. Or maybe cost is your deciding factor.
Drew Hendricks contributed to the writing and reporting in this article.
Regardless of the equipment you choose, you’ll pay less if you buy it instead of lease it.
Flexibility and freedomWhen choosing a credit card payment service, you’ll ideally be happy with the company for the long term. However, things don’t always work out that way. If you’re dissatisfied with the company for any reason – such as its pricing, policies or customer service – you’ll want the flexibility to ditch them and choos a new processing company.
To ensure your flexibility and freedom, choose a payment service with a month-to-month contract and no early termination fee. It also helps if the hardware isn’t proprietary to the processing company, so you won’t have the expense of buying all new equipment.
Flint Mobile Swaps Card Reader For Camera
In the last few years the mobile payments space has become increasingly crowded with the likes of Square and its many copycats. The technology, which involves a mobile app working in conjunction with a small card-reading dongle plugged into the headphone jack of a smartphone or tablet, has been a boon for service professionals who previously were mostly limited to accepting cash or checks as tender.
Flint Mobile is an iOS 7-optimized iPhone app that takes a slightly different approach, entirely doing away with a card reader, instead using the phone’s camera to read (not photograph) the numbers on the front of a MasterCard or Visa card. After tapping in the card’s security code as well as the customer’s billing zip code and finger-drawn signature the transaction is processed Flint’s payment gateway partner.
Dispensing with extra hardware translates into simplicity and reliability, says Flint Mobile co-founder and CEO Greg Goldfarb.
“It’s the fact that if I’m a photographer or a fitness trainer and I’m going from place to place during my day I have enough trouble keeping track of my keys and my wallet and my phone,” he says.
Losing or forgetting a card reader is a real pain point for non-countertop businesses such as photographers, consultants or home contractors, he says, whereas it’s not that big a deal for businesses that would typically have a point of sale machine or credit card terminal sitting on a counter.
“For them, they’re using say Square plus an iPad to replace VeriFone. It’s actually not mobile at all, they literally will lock an iPad to the counter,” Goldfarb says.
In addition to the scan-instead-of-swipe differentiation, Flint is more social than some of the other players in the mobile payments space. Every time you send an email receipt, for example, Flint encourages a customer to rate your business, write a recommendation and share it on Facebook. If they do, it shows up on their Facebook page as well as on your own business page, which makes for an easy way to build content there. You can also include in a receipt loyalty offers customers can redeem right away, such as discounts on future services.
Goldfarb says Flint is also geared to help users drive repeat business through the way it lets them customize how they filter and search transaction history data. For instance, a tennis pro could login to her online Flint account to search for only the customers to whom she gave one-hour lessons last summer. Because Flint transaction history data also includes customer email addresses, she could send those folks a message telling them about an upcoming winter clinic.
As for transaction fees, Flint is in the ballpark of what you’ll pay elsewhere. Flint charges 1.95 percent plus $0.20 per transaction for debit cards, or 2.95 percent plus $0.20 per transaction for credit cards. In comparison, Square charges 2.75 percent per swipe; Intuit GoPayment is either $12.95 a month plus 1.75 percent per swipe (but if you don’t pay the monthly fee the fee jumps up to 2.75 percent per swipe); PayAnywhere is 2.69 percent per swipe; and PayPal Here runs 2.7 per swipe.
Flint generally pays out transactions minus transaction fees within one to two business days.
Goldfarb says the Flint app has been downloaded from the iTunes store about 150,000 times and an Android version will be released “very soon.”
How Much Does Screen Size Matter On A Phone?
The ProblemIt would be very difficult to determine whether a large screen is really worth it, principally because it’s mostly a subjective opinion. Do you want a phone that closely resembles a tablet? Or would you like something that fits more comfortably on the palm of your hand? Is the iPhone 5s’ 4-inch screen sufficient?
One day, I walked into a phone shop to get myself a new SIM card. What I saw was a bunch of people using outlandishly large phones with 5 – 5.5-inch screens. I also saw a few others using phones with 4.5-inch screens like mine. If you have a glance at what phones people are using, you’ll soon realize that the consumer market is very diverse. This is generally a good thing. The question we really have to answer is, “Is everyone really happy with the phones they have?” This is nearly impossible, since it’s hard to gauge exactly how satisfied someone is with screen size. However, we can still look at the positive and negative sides of having either a medium 4-4.5-inch screen and a large 5-6-inch mammoth.
Putting Sizes Into The Arena
Everything is reachable with your thumb. In the upper end of the medium size spectrum, thumb operation might become difficult if you don’t have large hands. Overall, one-handed operation is possible.
The phone fits comfortably in the palm of your hand, extending up to the bottom-most section of each finger.
You’re less likely to drop a phone with this size of screen, since you can hold it relatively tightly in your hand.
But I must concede there are things that don’t play well with such sizes:
Gaming is slightly limited (think Angry Birds), since your gestures will surely be more sensitive on a smaller screen.
Typing vertically can be an exhausting process.
Having a smaller screen impedes your ability to read small text without having to pinch and zoom a billion times.
Added to that, large screens also give you otherworldly video recording and photography experiences. The larger screen will make you feel as if though you’re staring through a window at the subject you’re recording or snapping photos of. It’s really immersive.
So, Is Bigger Always Better?Surely not! However, there are tons of great points that can be made about both smaller and larger screens. If you were to choose one, I’d say to prioritize what kind of user experience you want to get out of your screen.
What’s your choice? Do you like monolithic screens that bring you closer to having a tablet than a phone? Or do you like keeping your hardware lean for very quick one-handed use? Comment below with your answer!
Image credit: Samsung Galaxy Note
Miguel Leiva-Gomez
Miguel has been a business growth and technology expert for more than a decade and has written software for even longer. From his little castle in Romania, he presents cold and analytical perspectives to things that affect the tech world.
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Should I Take Out A Business Line Of Credit For A Technology Purchase?
Running a small business or startup successfully often depends on recognizing the difference between investments you can’t afford to make and investments you can’t afford to ignore.
In periods of economic uncertainty — like the one we are living through in 2023 — small businesses need to be particularly mindful in managing their cash flow to cover short-term needs, including everything from purchasing inventory to processing payroll. It doesn’t take long for much of your working capital to be allocated, leaving little room for additional outlays that could be critical to fueling your business’s growth. In fact, a study by Intuit found that U.S. small business owners are losing $43,394 annually by foregoing a project or sales due to insufficient cash flow. It may seem safe to postpone purchases like technology, but these tools could become more critical than you anticipate.
The more customers you serve, for instance, the more that manual processes become too time-consuming. When your team can’t work remotely, it’s harder for them to collaborate and get the job done. And it’s difficult for your business to compete when you aren’t able to effectively sell, market and support customers with digital tools.
This is where a business line of credit or small business loan can make all the difference. These financing options provide growing companies the flexibility they need to invest in technologies that can move the needle on their critical metrics, like customer acquisition cost, customer satisfaction and even employee retention.
If you haven’t explored these kinds of financial solutions before, here’s an overview of how they work, and an example of how you could get started:
What is a business line of credit?A business line of credit is a revolving loan that gives access to a fixed amount of capital, which could allow a small business or startup to purchase employee smartphones and tablets, repair existing equipment or even fill a gap in your cash flow.
Somewhat like a credit card, funds drawn from a business line of credit are subject to interest if you don’t pay by the due date. Interest accumulates until you pay off the balance.
Whether you qualify for a business line of credit will depend on whether the credit is secured. With a secured line of credit, you’ll pledge specific assets as collateral. An unsecured business line of credit doesn’t require that, but lenders may ask for a personal guarantee and a general lien — a form of security interest — on some kind of asset.
Of course, lenders also evaluate small businesses’ applications for a line of credit based on myriad factors such as how long the business has been running, its existing credit scores and the risk factors associated with the business’s industry.
How is it different from a small business loan?Unlike a business line of credit, small business loans offer immediate disbursement of a lump sum, which has to be repaid according to an agreed-upon schedule.
Small business loans may be used for more specific purchases or investments than what you might pay for with a business line of credit. Once your small business loan is paid to term, you’d need to apply for another one to access additional funds.
The decision to approve an application for a small business loan is based on the applicant’s credit profile at the moment of submission. For a business line of credit, on the other hand, your provider may need to assess the longer-term viability of your business, given that your business could continue to use the credit for years to come.
How to choose a line of credit for a technology purchaseRegardless of which option you choose, small business financing requires having a solid grasp of your existing spending, your future needs and what kind of revenue you’re expecting to generate.
Before you apply for either a line of credit or a loan, make sure you’ve already developed good habits in terms of on-time bill payments and cash flow management.
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Also, make sure you’ve thoroughly defined, in detail, the value of the technology investments you want to make. If you’re thinking about purchasing technology for your business, you should understand the technology’s total cost of ownership (TCO) and establish how you’ll measure your return on investment (ROI).
How Samsung Business Financing can power up your businessSamsung recently introduced Samsung Business Financing as part of its offering to give small businesses and startups more control over upgrading their teams’ technology, so you can grow your business faster and more easily.
By setting up a Samsung Business Financing account, you can apply for a no-fee business line of credit. You can apply directly through chúng tôi either before you begin shopping or during the checkout stage. Approvals can happen in as little as 30 seconds.
If you’re approved, you’ll receive invoices that can be paid in 30 or 60 days. And with simpler cash flow management, you can authorize certain people on your team to make purchases with your line of credit. You can even include multiple buyers on a single account.
Hosted by TreviPay, Samsung Business Financing accounts are managed through an online portal, where you can check your available credit, view your invoices, pay your current balance or route your invoices and alerts to accounts payable.
Whichever direction you choose to go, exploring your financing options is an important first step toward powering your business for long-term growth.
With instant approvals, net terms and no expanding fees, Samsung Business Financing is an easier way to pay and achieve your business goals. And if you’re looking for new business phones, you can find the device that best suits your needs with Samsung’s quick, free assessment.
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