Accepting payments through mobile phones has become more and more popular. The mobile phone has become a centerpiece of everyday life. The mobile payments solutions become very advantageous to certain types of businesses. Many service industries such as plumbers, electricians and contractors can utilize the mobile phone to accept payments face to face. This drives down their processing fees as well as provides a more secure transaction. Mobile businesses such as small retail business that you would see at trade show, local city flea markets or craft shows can now accept payments without requiring electricity, phone or internet hookups. The mobile solution had greatly expanded the payment processing world.
The one drawback to the mobile world is that it is just now catching up to the new EMV mandates. Many mobile solutions, as of this blog, still do not have chip readers. While you are still allowed to accept payments through swipers, many processors will charge you non-compliance penalties. At the very least, the merchant forfeits their chargeback rights. Meaning that even if the transaction was legitimate and the merchant took all of the proper steps to obtain customer information, they still cannot fight a chargeback.
Currently DynaPay offers several solutions for mobile processing through a bunch of providers. Some of these providers offer it with many of the payment gateways we can set you up with. Others are just stand alone mobile processing solutions.
Three of the solutions above have mobile EMV solutions; Authorize.net, Swipe Simple, and USAePay. Currently Swipe SImple and Authorize.net have an EMV reader that plugs into the phone and is roughly the same size as the swipers.
USAePay’s EMV solutions is in the form of a mini Bluetooth terminal. It doesn’t connect to the cell phone via the ear phone jack like most of the mobile processing solutions on the market. The terminal is a Castles MP200 and is about as big as a smart phone.