Best Mobile Payment Solutions in 2014

Mobile technologies are integrated into almost every aspect of modern business. You can not only buy something and pay for it with the help of your smartphone, you can also accept credit cards on it and, furthermore, turn your device into a point-of-sale system for your business. If you are looking for modern payment options aimed at the integration of you business with mobile technologies, this post is for you.

Square

With Square you can take payments on an iPad, iPhone, or Android. Sign up, get your free reader, download the application and start your business. Square doesn’t have any monthly fees, contracts, or merchant accounts, being a perfect solution for business that only occasionally relies on mobile payment processing. It links with your bank account and supports all major credit card companies. You can find more information here.

Flint Mobile

With Flint Mobile you can accept credit cards without any card reader. All that you need is smartphone’s camera. Download the app and you will turn your phone into credit card reader, which can also work with invoices, sending them for online bill payment; handle checks and cash; manage customized coupons within Apple Passbook. Flint Mobile application also supports automatic syncing for all transactions, and includes customer and line item information from QuickBooks accounts. Flint is currently available in the US in Apple AppStore and Google Play. For more information you can visit the official site.

GoPayment

This solution is almost similar to Square. With GoPayment reader and app you can accept and record all credit card transactions on your smartphone. iOS and Android devices are supported. GoPayment can also record any cash or check payments. All transactions, done within the app, are synced with QuickBooks. $12.95 a month is the only drawback of GoPayment. Hit this link for more information.

PayPal Here

PayPal Here is one of the most flexible mobile payment solutions. With the app and accompanying hardware you can not only receive payments from credit cards, but you can also get money straight from customers’ mobile PayPal accounts. The cost per transaction is 2.7% without any additional payments and monthly fees. Hit this link for more information.

ROAMpay

ROAMpay is offered by several merchant service providers. The most competitive rates are offered by Flagship Merchant Services. The company charges a fee of $7.95 each month and every swipe costs 19 cents. A maximum transaction fee is 1.58%. ROAMpay card reader is easy to set up thanks to auto device detection. It is compatible with over 100 mobile devices on Android and iOS. For more details go here.

Dwolla

Dwolla is the least-expensive way to accept mobile payments. It charges only 25 cents per transaction. Dwolla doesn’t need any additional hardware to work with payments, but it requires customers to use the app to select the payee. You can see all the details on the official site.

ISIS

ISIS Mobile Wallet is also NFC-enabled payment method from AT&T, Verizon and T-Mobile, which is accepted by more than 200,000 retailers. ISIS doesn’t work without NFC reader, which can be purchased or rent from one of ISIS’ partners. The service charges no additional transaction fees for both customers and merchants. Go here for all the details.

Google Wallet

Google Wallet will turn your customers’ smartphones into payment cards. The only drawback here is a near field communication reader, which is required in order to receive money. You pay just normal card-present fees for Google Wallet transactions without any charges from Google. With Google Wallet your customers can link loyalty cards to their Google Wallet accounts. If you already use a mobile payment-processing service, Google Wallet can be integrated with it for free. Hit this link for more information.

PayPass

PayPass is a MasterCard’s payment solution. It works with NFC-enabled POS terminals or plug-in NFC readers. MasterCard doesn’t charge any additional transaction fees for the usage of PayPass system. The other advantage is integration with other mobile payment systems, such as Google Wallet and ISIS. Visit this page for all PayPass’ features and requirements.

payWave

payWave also relies on NFC. This payment solution works with NFC-enabled POS terminal from Visa, or peripheral NFC readers. Go to Visa’s website for more information about payWave.

Other ways to accept mobile payments

• mPowa is a cloud-based solution, which lets businesses manage payments across multiple currencies, sites and payment types from smartphones.

• Paymentech is another great tool for accepting payments on the go.

• With Boku all payments are added directly to customers’ phone bills. It doesn’t require registration of bank accounts.

• LevelUp is based on QR codes from customer’s smartphone.

• Payfone is similar to Boku.

• PayToo works with debit and credit cards, QR codes, mobile wallets and radio-frequency identification. It also supports several different currencies.

• MCX integrates payments with a different promotions and services through any smartphone.

• With a free app and a card reader that plugs into the charging dock, Innerfence can function as an in-store POS.

• Breadcrumb by Groupon works well both in store and on the road. It has the lowest transaction fees at 1.8% and 15 cents per swipe.

• linked2pay offers a card reader with appropriate mobile app, and it also works as a payment gateway for websites.

• PaySimple is another payment solution. PaySimple also supports e-checks and over-the-phone payments.

• Spark Pay application has user friendly interface and service itself is notable for a straightforward pricing plan.

• Forte is the most secure solution.