{"id":6007,"date":"2013-08-26T16:16:21","date_gmt":"2013-08-26T23:16:21","guid":{"rendered":"http:\/\/www.yola.com\/blog\/?p=6007"},"modified":"2015-04-02T15:03:49","modified_gmt":"2015-04-02T22:03:49","slug":"mobile-card-readers-should-you-be-using-one","status":"publish","type":"post","link":"https:\/\/www.yola.com\/blog\/mobile-card-readers-should-you-be-using-one\/","title":{"rendered":"Mobile Card Readers &#8211; Should You Be Using One?"},"content":{"rendered":"<p>According to new findings from the <a title=\"Local Commerce Monitor | BIA?Kelsey\" href=\"http:\/\/www.biakelsey.com\/Advisory-Services\/Proprietary-Research\/Local-Commerce-Monitor\/\" target=\"_blank\">Local Commerce Monitor<\/a>, SMBs are continuing to embrace mobile platforms, with 40% of SMBs now accepting payments with mobile credit card readers (e.g. <a title=\"Square\" href=\"http:\/\/www.squareup.com\" target=\"_blank\">Square<\/a> and <a title=\"PayPal Here: Credit Card Reader | Mobile Credit Card Processing\" href=\"https:\/\/www.paypal.com\/us\/webapps\/mpp\/credit-card-reader\" target=\"_blank\">PayPal Here<\/a>). \u00a0This number is set to rise considerably with another 16% planning to use them in the next 12 months.<\/p>\n<p><strong>How do they work?<\/strong><br \/>\nMobile payment services allow businesses of any size to accept credit cards. \u00a0Typically the credit card reader or dongle is given away free to the business. \u00a0A business then downloads the associated app onto their smartphone or tablet, links up their bank account, attaches the card reader to their device and then they can start taking payments.<\/p>\n<p>The main benefits over traditional payment processing are:<\/p>\n<ul>\n<li>No upfront set up costs<\/li>\n<li>Straightforward transaction rates, usually around 2.75%<\/li>\n<li>Flat transaction fees regardless of the card type a customer uses.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" class=\"aligncenter size-full wp-image-6017\" src=\"https:\/\/www.yola.com\/blog\/wp-content\/uploads\/2013\/08\/sr-angley-hands.jpg\" alt=\"Square card reader\" width=\"318\" height=\"318\" \/><\/p>\n<p>The emergence of these mobile payment services are threatening to disrupt the payment processing industry quicker than originally thought. \u00a0<a title=\"Square\" href=\"http:\/\/www.squareup.com\" target=\"_blank\">Square<\/a> one of the biggest players in the US market has announced they are processing <a title=\"Square Handles Payments - Business Insider\" href=\"http:\/\/www.businessinsider.com\/square-handles-payments-2013-5\" target=\"_blank\">$15 billion in transactions<\/a> on an annual basis, or $41 million in payment volume per day (excluding their Starbucks partnership). \u00a0\u00a0With the launch of the new <a title=\"Square Debuts Its Latest Hardware, Stand, A $299 Card Swiper for Ipad Registers | TechCrunch\" href=\"http:\/\/techcrunch.com\/2013\/05\/14\/square-debuts-its-latest-hardware-stand-a-299-card-swiper-for-ipad-registers\/\" target=\"_blank\">Square Stand<\/a> for an iPad, which will act as a full-fledged register allowing merchants to process payments faster, this volume is likely to grow rapidly.<\/p>\n<p>The \u201cSquare of Europe\u201d, <a title=\"iZettle - Now anyone can take secure card payments\" href=\"https:\/\/www.izettle.com\/\" target=\"_blank\">iZettle<\/a>, recently had an <a title=\"iZettle, A European Square Rival, Gets $6.6M From Banco Santander As It Gears Up For A Global Push | TechCrunch\" href=\"http:\/\/techcrunch.com\/2013\/06\/11\/izettle-a-european-square-rival-gets-6-6m-from-banco-santander-as-it-gears-up-for-a-global-push\/\" target=\"_blank\">investment from Banco Santander<\/a>, Europes largest bank and have recently <a title=\"iZettle Undercuts Its UK Mobile POS Rivals With  Per Transaction Fee As Low As 1.5% | TechCrunch\" href=\"http:\/\/techcrunch.com\/2013\/07\/24\/izettle-lowers-fee\/\" target=\"_blank\">changed their pricing structure<\/a> so their transaction fee can be as low as 1.5% depending on the monthly sales volume of the business. \u00a0This change is considerably less than the 2.75% transaction fee offered by their rivals <a title=\"Mobile card payment with iPhone, iPad, and Android - SumUp\" href=\"https:\/\/sumup.co.uk\/\" target=\"_blank\">SumUp<\/a> and <a title=\"Accept card payments on your mobile. Get more customers - payleven\" href=\"https:\/\/payleven.co.uk\/\" target=\"_blank\">Payleven<\/a>.<\/p>\n<p>With <a title=\"American Express and Groupon Invest Millions in Square Rival 'SumUp'\" href=\"http:\/\/www.creditcardprocessingspace.com\/american-express-and-groupon-invest-millions-in-square-rival-sumup\/\" target=\"_blank\">Groupon and American Express<\/a> recently investing in SumUp, <a title=\"Intuit's British Invasion Hits Before Its Competitors\" href=\"http:\/\/www.mobilecommerceinsider.com\/topics\/mobilecommerceinsider\/articles\/330581-intuits-british-invasion-hits-before-its-competitors.htm\" target=\"_blank\">Intuit Pay launching in the UK<\/a> before several of its competitors and <a title=\"PayPal Here Is Coming To The UK, Its First Mobile Payment In Europe, Armed With A New Way To Read You Card | TechCrunch\" href=\"http:\/\/techcrunch.com\/2013\/02\/21\/paypal-here-is-coming-to-the-uk-its-first-market-in-europe-armed-with-a-new-way-to-read-your-card\/\" target=\"_blank\">PayPal Here planning to follow into Europe soon<\/a>, it\u2019s likely that the number of small businesses worldwide using mobile payment services is set to grow even further.<\/p>\n<p>Are you using a mobile credit card reader? \u00a0Tell us what you think of them by commenting below.<\/p>\n<div id=\"attachment_8227\" style=\"width: 619px\" class=\"wp-caption aligncenter\"><img aria-describedby=\"caption-attachment-8227\" loading=\"lazy\" class=\" wp-image-8227\" src=\"https:\/\/www.yola.com\/blog\/wp-content\/uploads\/2013\/08\/SMBs-Digital-Marketing-Trends-2.png\" alt=\"Source: biakelsey.com\" width=\"609\" height=\"1041\" \/><p id=\"caption-attachment-8227\" class=\"wp-caption-text\">Source: biakelsey.com<\/p><\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to new findings from the Local Commerce Monitor, SMBs are continuing to embrace mobile platforms, with 40% of SMBs now accepting payments with mobile credit card readers (e.g. Square and PayPal Here). \u00a0This number is set to rise considerably with another 16% planning to use them in the next 12 months. How do they&hellip;&nbsp;<a href=\"https:\/\/www.yola.com\/blog\/mobile-card-readers-should-you-be-using-one\/\" class=\"\" rel=\"bookmark\">Read More &raquo;<span class=\"screen-reader-text\">Mobile Card Readers &#8211; Should You Be Using One?<\/span><\/a><\/p>\n","protected":false},"author":400,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","neve_meta_reading_time":"","_themeisle_gutenberg_block_has_review":false},"categories":[129,84],"tags":[409,407,54,1113,406,408,410],"_links":{"self":[{"href":"https:\/\/www.yola.com\/blog\/wp-json\/wp\/v2\/posts\/6007"}],"collection":[{"href":"https:\/\/www.yola.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yola.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yola.com\/blog\/wp-json\/wp\/v2\/users\/400"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yola.com\/blog\/wp-json\/wp\/v2\/comments?post=6007"}],"version-history":[{"count":7,"href":"https:\/\/www.yola.com\/blog\/wp-json\/wp\/v2\/posts\/6007\/revisions"}],"predecessor-version":[{"id":8229,"href":"https:\/\/www.yola.com\/blog\/wp-json\/wp\/v2\/posts\/6007\/revisions\/8229"}],"wp:attachment":[{"href":"https:\/\/www.yola.com\/blog\/wp-json\/wp\/v2\/media?parent=6007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yola.com\/blog\/wp-json\/wp\/v2\/categories?post=6007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yola.com\/blog\/wp-json\/wp\/v2\/tags?post=6007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}