Top Three Mobile Payment Solutions With No Startup Cost
1. Pay Anywhere
Pay Anywhere has the lowest rates out of the three with no startup costs, monthly fee, or monthly minimum. They offer a 2.69% swiped rate with their free credit card reader. Keyed transactions are 3.49% and $0.19 per transaction. Pay anywhere is the lowest cost solution for low volume businesses and is compatible with Android, iPhone, and iPad devices. They also have a zero dollar cancellation fee which is a big plus. The reader and software is very easy to use and is free of charge with the service.
Pay Anywhere has also only had nine complaints filed against them with the Better Business Bureau, significantly less than the other mobile payment solutions reviewed. With no startup costs, monthly minimum, monthly service fee, competitive rates, multi-device platforms, and very few complaints with the Better Business Bureau Pay anywhere is ranked #1 for mobile payment solutions.
Intuit offers a reliable, simplistic solution to mobile credit card processing. They offer a free card reader for both Android and iPhone devices. Intuit is a great solution to any merchant looking for a free startup cost and competitive rates. They also provide an option for both low and high volume merchants, which has given them a big competitive edge. For low volume merchants, they offer a 2.7% swiped rate and a 3.7% keyed rate with no monthly fee. For higher volume merchants they offer a 1.7% swiped rate and a $2.7% keyed rate with a $12.95 monthly service fee. No cancellation fee, monthly service fee, or monthly minimum opens up the market of people who would like to process cards from time to time but not enough to justify the monthly fees that come along with a typical merchant account.
SquareUp takes 3rd place with their easy to use and understand mobile processing platform. Compatible with both Android, iPad, and iPhone devices, Square’s mobile processing solution was one of the pioneers in the industry. SquareUp offers a flat 2.75% for all swiped AMEX, MasterCard, or Visa transactions. Keyed transactions are 3.5% and $0.15 meaning it would not be a viable option for high volume card-not present merchants. Keyed transactions also have a $2,002 per week restriction. In any consecutive seven (7) days, if a merchant is to exceed $2,002 in keyed transactions funds will be held for up to thirty (30) days. This used to be the case with swiped transactions as well, but with their recent lift of the swiped limit, Square remains a frontrunner in the mobile processing solution field. Square also does not have an 800# for customer service which might deter some merchants.
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