Shopventory VS Square For Retail


Let’s get right into things. Today we’re looking at Shopventory vs. Square for Retail. Why? Because if you need more inventory support than the basic Square Point of Sale app offers, they are your two best bets. Square (see our review) has been a pivotal force in the mPOS space since its beginning, but lately it has also been edging into the tablet POS market with an ever-growing number of features. Shopventory is newer, but it’s carved a niche out for itself as a supplement to not just Square, but also PayPal Here, Clover, and now even Shopify.

While Square dominates the mobile space as far as features, it lags behind tablet-based systems, particularly in terms of inventory. But now there’s Square for Retail. If you need more comprehensive inventory features, you’ll get them with an upgrade to Retail.

Shopventory is a monthly service that integrates with your Square account. While Square for Retail is a full-fledged POS, Shopventory is strictly an inventory-focused add-on for Square for Point of Sale. It replaces most of the in-app inventory management with its own web browser but it does keep the inventory lists automatically synced and generates reports.

A really quick disclaimer before we get onto the comparison: We’re not looking at the full Square for Retail app here (which I’ll also refer to as just “Retail” or “the Retail app”). We’re just focusing on how its inventory management tools stack up against Shopventory’s. It’s important to consider whether the cost of either service justifies its use. Retail offers many of the same features as Shopventory, but also includes employee management. However, it could be a more costly service given that the subscription is monthly per register. Shopventory offers monthly inventory management for three locations for less than the cost of one Square for Retail register subscription.

You don’t get everything that the standard Point of Sale app offers either, such as offline mode. In fact, the Retail app is more of a pared-down version of the POS app, but with more beefed up inventory and reporting. That’s not to say Shopventory offers all the inventory tools you could ever need, either. But it certainly seems to have the upper hand in terms of capabilities and pricing.

I think for the most part that either of this will do well. Although they might not be perfect, they’re both capable. But in the end, Shopventory has more features and more competitive pricing. I would test it out before upgrading to Square for Retail.

For more information, I encourage you to check out our full Shopventory and Square for Retail reviews. Otherwise, read on for our Shopventory vs. Square for Retail comparison and see how they stack up in the great battle for inventory management!

Features & Services

Winner: Shopventory

Both of these services offer enough that they merit full reviews in their own right. Our comprehensive reviews of Square and Shopventory explore the advantages and limitations of each. For simplicity’s sake, I am going to focus on three core aspects of inventory management and see how they stack up: inventory tracking, reporting, and purchase order/vendor management.

Inventory Tracking

With both Shopventory and Square for Retail, merchants get the ability to count inventory and have each sale deducted from total stock numbers. Both offer location management as well. You’ll be working with Square’s standard item listings, which means you can include all of the following: product name, photo, SKU/barcode, item description, and item variants with the option to set different price points.

Shopventory Inventory Tools

Screenshot of Shopventory home page

Shopventory works by syncing with Square. It pushes its inventory data (item prices, bundles, etc.) into the POS app and pulls sales data from Square into its own dashboard reports and updates the inventory counts in real time. Once you get inventory set up, you manage everything inventory-related through Shopventory, NOT Square. It might take some merchants a while to get used to that, especially if they’re used to relying on the Dashboard.

Shopventory’s pricing plan, which I’ll cover in the next section, focuses on the number of locations you use, not the number of registers or products. And setting up multiple locations is actually very easy. When you log into Shopventory, the dashboard asks you to create a location and then add an integration (that is, link to your POS). It works a little bit differently for each software, but here’s what you need to know for Square.

If you have separate Square logins for each location, that’s fine and you can connect each Square account to each location. However, if you take advantage of Square’s free location management instead, Shopventory will ask you to select a location from your list of Square locations after you connect the POS. (That means you should set up your locations in Square before you setup Shopventory.) If you’re using employee management and device codes to run multiple registers, it doesn’t matter. Shopventory tracks everything at the location level.

After you’ve created your locations and linked your POS systems, Shopventory will ask you to enable two major settings: “sync items and variants” and “sync item quantities.” This will establish the connection and effectively make Shopventory your primary inventory service.

Once you’ve set up Shopventory, you’ll continue to use Square POS as usual. Just make sure that you log into Shopventory to pull inventory and sales reports. This is especially important if you’re using the Shopventory-specific inventory features like bundles. Everything is synced in real time so you can log in and check whenever.

Here’s a quick run-down of Shopventory’s features:

  • Bundles: Square doesn’t support bundling, but this feature allows you to track raw ingredients, deduct gift basket items from main inventory stock and even keep track of goods sold at wholesale versus retail. It also allows for tracking of items by partial quantities (yards of fabric or goods sold by the pound, etc.) The bundling feature even includes bundle variants. None of this is currently supported by Square for Retail.
  • Low-Stock Alerts: You can set a custom threshold for each item, so you know when it’s time to reorder something.
  • Automatic Restocks On Refunds: You’ll have to enable this feature, as it isn’t turned on by default. It also doesn’t work on partial refunds in Square.
  • Multi-User Access: Shopventory also allows you to create multiple accounts with different permissions. Enable your managers and staff to better manage store inventory while ensuring accountability.
  • Inventory Transfers Between Locations: Is one location out of a product while another has too much of it? Use the Shopventory dashboard to keep track of internal transfers of merchandise.
  • Inventory History: Shopventory keeps a log of your inventory history, including when counts go up or down. When you manually adjust stock counts you can add a note to indicate why (theft, damaged goods, etc.). We’ll get a little bit more into some related features when we talk about reporting.
  • Inventory Reconciliation Tools: If you’re a bit old-fashioned, Shopventory does offer an easy downloadable reconciliation sheet for inventory. Just the basic details that you need, not a lot of extra information, which you can download via printable PDF or spreadsheet. However, Shopventory has also introduced a barcode scanner mobile app for inventory reconciliations. Each Shopventory user can download the app and scan and update inventory counts through the app, and Shopventory will keep a record of when and who was responsible. This is actually a pretty awesome tool.
  • Barcode And Label Printing: Shopventory lets you chose from a Dymo or Brother label printer, as well as computer printing on Avery label sheets.

Square For Retail Inventory Tools

Screenshot of Square for Retail home page

Square for Retail works pretty similarly to Square Point of Sale. Everything is controlled from the Square Dashboard or the app, though the dashboard gives you the most functionality. Even though the app (or at least parts of it) will look very different from the free version, your dashboard should look pretty much the same and the data entry process will be the same.

If you have a lot of inventory (and if you’re looking at this article, you probably are), the odds are good you don’t want to create each inventory item one by one. That’s where Square’s Bulk Upload feature comes in. You can download the spreadsheet template, populate it with your inventory, and upload your item library all at once. Likewise, you can also export your library to a spreadsheet if you need that data elsewhere.

Your item descriptions are nearly identical to the standard Square offering. Even though Square for Retail doesn’t display photos in the app, you can upload them for viewing the back end. Check out Square’s how-to video for creating items manually.

Technically, Square for Retail gives you access to the Inventory Plus features, but these are really (mostly) reporting tools or PO/Vendor management. So some of these features are actually just Square’s inventory features.

  • Low-Stock Alerts: You can set a custom threshold for each item so you know when it’s time to re-order something. (This is a standard Square feature.)
  • Employee Management: Square includes employee management at no additional charge with a Square for Retail subscription. So if you have a lot of employees this could end up being a good deal for you. You can set different user permissions, track time, and more.
  • Inventory Transfers Between Locations: Square initially required you to manually add or subtract inventory at different locations to record transfers, but that’s no longer the case with the Retail app. Now you can record merchandise transfers in the app.
  • Inventory History: Another feature that wasn’t present at Square for Retail’s launch, inventory history will show you all your sales, transfers, received shipments, etc. to show why your inventory count is what it is.
  • Barcode And Label Printing: Like Shopventory, you can choose to use one of two select label printers (A Dymo or a Zebra) or print from a computer onto standard Avery labels.
  • Vendor Library: All items associated with a particular vendor (as well as their prices) are stored in each vendor’s data file.

Note the lack of bundling features here and all that this entails: no bundles, no raw ingredient tracking, no partial ingredient tracking. This is one of the biggest limitations to Square’s inventory.

However, Square also doesn’t offer any sort of inventory reconciliation. You could download your inventory for export and modify the spreadsheet, but it’ll take a bit of work on your end to make that happen.

But that’s just for inventory management. We’ve still got to talk about reporting and purchase orders/vendor management.

Reporting Tools

First of all, Square’s reporting tools, overall, are pretty robust. (Check out the list of reports.) Shopventory’s reports exist mostly as an extension of Square’s, not a replacement for them. This makes sense given that Shopventory is an extension of Square, not a standalone app. In addition to some identical reports, Shopventory offers several reports that Square doesn’t — and a couple that Square for Retail doesn’t, either.

Square’s inventory reports are somewhat lacking. Specifically, something that merchants have been clamoring for is cost of goods sold (COGS) reporting. Square for Retail finally offers this feature, but thus far it hasn’t impressed. Editing the item costs isn’t easy to begin with, and the information isn’t available at key points in the Retail app experience. And all of that’s left merchants understandably upset. However, you can also keep a record of additional costs associated with a purchase (such as shipping or handling fees) that are added to your COGS tracking. That’s helpful.

In addition to COGS reporting, Square for Retail introduces a profitability report and an inventory by category report that lists the value of the items, projected profit, and profit margins in each category. This last report is more a combination of several other reports, but it’s nice to see.

On the other hand, Shopventory’s COGS reporting is a bit more advanced. Accessing pricing information seems a bit easier than with Square for Retail. Shopventory also tracks lot costs in addition to default costs. For advanced users, Shopventory has a cost averaging feature.  You can even back-fill lot costs using the default cost feature.

But apart from cost and profitability reporting, there’s another feature I like that Shopventory offers: a dead inventory report. You can print off a list of every item that hasn’t sold recently, and specify just how “recently” you want — whether it’s a week, a month, six months, etc. This is pretty handy because “slow” for one business isn’t slow for another.

It’s hard to ignore the fact that Shopventory outclasses Square for Retail in terms of reporting — it offers everything that Retail does, plus more. I’ve found that Shopventory and Square dashboards are both fairly intuitive and easy to use, so they’re evenly matched in that regard.

Purchase Order & Vendor Management

Since the upgrades to inventory and reporting tools are relatively small in Square for Retail, it’s nice to see that the additions in this category are actually pretty big game-changers. With the Retail app, it’s now possible to create purchase orders from within the Square dashboard and send them via email. You can also receive inventory from within the Square for Retail app.

If I’m being honest, Square for Retail and Shopventory are well matched in this category. There are a few differences — for one, with Shopventory you can only receive inventory through the web dashboard, not the app. But I think that, overall, their feature sets are pretty similar.

Square PO & Vendor Management

While you’ll need to use the Square dashboard to create purchase orders, you can receive stock from a PO directly in the Square for Retail app, which is nice. With Shopventory, everything has to be done from the dashboard, which is a major trade-off. However, it shouldn’t be a dealbreaker.

A few other features from Square that I like: You can create a new vendor listing from within a purchase order, whereas with Shopventory you must have all of your vendors already entered. You can also edit and cancel purchase orders as needed, and Square keeps an archived file.

I mentioned previously that Square does have an item library associated with a vendor, but I don’t think it’s the most effective display. When you add an item to the PO it is added to the vendor’s item library, but you can’t browse the item library while creating a PO. Instead, you need to search for the items you want in a drop-down menu. I know that some merchants have been frustrated that Square can’t auto-populate a PO using low inventory items. Others are also frustrated that they can’t see how many of an item are in stock. Instead, these merchants wind up flipping between tabs or screens to formulate a list of what is needed.

Shopventory PO & Vendor Management

Shopventory has a handle of the same shortcomings that Square for Retail does in this regard. Namely, you can’t auto-populate a PO based on low inventory, and you can’t view stock levels in the PO.  However, you can clearly browse every item associated with a vendor and select which ones you want to add to it. This kind of display seems kind of obvious, and it should be, but it’s not.

This might be the one area where I think Square has a modest upper hand. For one, Shopventory lacks the ability to edit POs or archive them to clear them out of your way while preserving the information. (The company says it’s working on this last bit.) But you can save as a draft, just like you can in Square. So if you’re not sure or you’re not ready, you don’t have to send the purchase order out into the world. With Shopventory, you also need to create your entries for vendors before you start the PO.

Pricing

Winner: Shopventory

Square for Retail’s pricing is very simple: $60/month per register. No tiered packages, no add-ons, no extra fees for priority phone support.

Square for Retail Pricing

That’s fairly competitive for an iPad-based POS system. But as we noted in our full review, Square for Retail actually removes several of the features available in the standard (and free) Point of Sale app. It’ll be up to you to decide whether the new interface and new inventory tools justify the cost.

Thinking more broadly, you’ll also need as many iPads as you have registers ($350+) and likely a Square Stand with a reader ($169) as well as any cash drawers, printers, and bar scanners you want for each device.

However, there is one caveat: Square for Retail provides employee management for an unlimited number of employees. With the standard Square plan, that cost is $5 per employee per month. So if you have 12 employees and one register, you actually break even on costs.

Shopventory’s pricing plan is focused not on the number of devices or the number of users, or even the number of transactions. Pricing is based just on the number of locations. There’s a limited free plan that provides analytics, but the paid plans start at a very reasonable $30/month.

Here’s what you can expect:

  • Starter ($29/month): 1 location, 1 year order history, 1 year reporting
  • Standard ($59/month): 3 locations, 2 years order history, 2 years reporting
  • Professional ($199/month): 10 locations, unlimited order history, unlimited reporting
  • Elite ($499/month): 25 locations, unlimited order history, unlimited reporting

If you want access to purchase orders, vendor management, and the bundling features, you’ll need to get the standard plan. The starter doesn’t support these capabilities at all. In addition, the higher-tier plans throw in a few other perks (free QuickBooks syncing, otherwise $30/month; access to beta features, phone support).

Keep in mind that you still need hardware and devices to run the Square app — and an iPad is the most full-featured option. But you could use Android tablets or smartphones too. You have a lot more options and no charge for using multiple devices at the same location. So at three locations, ignoring costs of hardware, you’re already saving $120 with Shopventory. (That’s the cost of 24 employee management subscriptions, by the way.)

You can also save a bit of money if you opt to pay for Shopventory on an annual plan instead of a monthly one, which is nice. I think designing an inventory system whose pricing focuses on locations is the smart option.

While I think Shopventory’s pricing is definitely better, I can’t say definitely that it’s the better value overall. For one, Square for Retail is optimized for businesses with very large inventories. And if you’re dealing with hundreds and hundreds of items you might prefer the search-and-scan based user interface that the app offers. But if you have a small inventory, or you’re not a retail business, and still want all the management tools? If you don’t care about the UI but want some of the Square POS features like offline mode or open tickets? It’s pretty obvious that Shopventory is the better solution. What’s right for you will depend on your priorities and your budget, so check out our complete reviews of both services before you commit to anything.

Web Hosted Or Locally Installed

Winner: Tie

Both of these solutions are web-hosted, which is awesome. Yay for the cloud! Don’t forget that you’ll also get some in-app reporting capabilities if you don’t want to log into a web browser, but they aren’t inventory driven, and they’re far more limited than using the web dashboard.

Customer Service & Technical Support

Winner: Tie

Apart from a small team on the Square Seller Community (a forum for online merchants), Square for Retail doesn’t have any exclusive support channels that are separate from regular Square support. So you should expect business as usual in this regard.

Square’s been plagued by complaints of shoddy customer service pretty much since the beginning. But honestly, I think most of those complaints are rooted in Square’s tendency to freeze or terminate accounts. For most technical (not account-related) issues, Square does seem to offer more reliable support. There’s email and live phone support, as well as a very comprehensive self-service knowledgebase. And the Seller Community is honestly a great resource as well.

But I find that the amount of information and how-to’s concerning Retail specifically to be troubling. There’s not a lot. Square has tons of videos but they seem to gloss over showing how to use the Retail app. If you want to know about specific features before you sign up, you should get on the Seller forum and ask. Otherwise, the only way to find out is to test-drive Square yourself.

Not only that, but it certainly seems like the process of obtaining a code to access phone support requires more effort than some merchants are willing to put forth. I get it. I loathe automated menus that make you jump through hoops to get to a real person as much as anyone else. And I’ve heard a smattering of complaints about email support. I think Square’s support is mostly good, but occasionally something does go wrong.

If you one of the merchants who’s felt frustrated at Square’s support, you’ll probably be pleasantly surprised at the quality if Shopventory’s. Phone support is only available for higher-tiered plans, but the chat option is great and the knowledgebase is extremely helpful as well. (I know. I’ve tested both.) The chat option isn’t quite live chat because it might take a few to get someone to answer your question, but once you get one of the reps to respond, it is a live conversation. I shouldn’t have to say this about any customer support, but sadly I do: I like that you get to talk to a helpful person who isn’t going to shoehorn you into a script.

Shopventory isn’t quite large enough to have the kind of active forum that Square has for support, but the knowledgebase is easily as detailed as Square’s. I find the video tour is super useful as an orientation to Shopventory, despite how much I absolutely hate watching video tutorials longer than about one minute.

It’s worth noting that you’ll still have to deal with Square for payment- and account-related issues if you use Shopventory. But for inventory-related issues, you can deal with Shopventory instead.

Negative Reviews & Complaints

Winner: Shopventory

At this point, merchants’ biggest point of contention with Retail is that in some ways is a step back from the standard Point of Sale app. A few features are lacking in the Retail app. Plus, I’ve seen complaints that features Square promised at launch (or at least showed in screenshots) haven’t actually appeared yet.

Some of the complaints about Square for Retail we’ve seen include:

  • Problems With Cost Of Goods Recording And Reporting: This is a big one and it manifests in a lot of ways. Currently, the only way to update costs is to upload a spreadsheet. The app itself doesn’t allow you to manually edit individual item costs, and Square’s current reports don’t list item costs on everything. Merchants who were expecting to finally get COGS reporting haven’t been thrilled, though Square does say it’s on their list of improvement to make, so we may see some enhancements.
  • Lack Of Features: Specifically, with Retail, you lose access to Square’s offline mode and the open tickets capability. You can upload images as part of the item listing, but they don’t display in the app. Merchants have complained about their removal. I haven’t been super thrilled about how Retail feels like a step back from the Point of Sale application in terms of interface and features, either. And one big missing feature that I’ve seen a lot of chatter about is the ability to auto-populate purchase orders based on low inventory (or even the ability to see the inventory count in the same window as the PO).

There’s a lot less user chatter about Shopventory overall (which makes sense with a smaller customer base). I think users who integrate with PayPal or Clover will probably be more dissatisfied than Square users, honestly. I think some merchants will dislike the same sort of shortcomings you find in Square for Retail: missing features like the ability to view inventory levels while creating a purchase order, or the ability to edit purchase orders. Overall, the comments I see from merchants are positive.

Positive Reviews & Testimonials

Winner: Tie

Square gets a lot of love overall for its payment processing. Signup is quick and easy, rates are fair and affordable, and the hardware is good and fairly priced. But the Retail app seems to be less popular overall. In theory, it fills a niche that businesses with a high quantity of inventory have been needing. I know a lot of merchants were excited at the prospect when it launched, but I haven’t seen as much talk about it since then.

I don’t see a whole lot of chatter around the web about Shopventory. The website has a couple testimonials and I’ve seen the Square Seller Community talk about it, too. The discussions I’ve seen a focus on the good customer service and its fair pricing.

I’m calling it a draw here. Both options are good ones and serve their purpose, but there isn’t enough of a discussion to say which one has more positive coverage.

Final Verdict

Winner: Shopventory

I can’t say definitely that Shopventory trounces Square for Retail in every regard. One is an inventory management add-on, the other is a full-fledged POS with inventory management. So I can draw apples-to-apples comparisons about some things and say that yes, Shopventory has more and better quality inventory features. Its pricing is way more competitive if your only concern is inventory tracking. It will work great as an add-on to Square Point of Sale.

But Square for Retail has a search-optimized UI and free employee management tools that might be deciding factors for some merchants. So you could potentially get a better value with Square for Retail if you have a lot of employees and want easy time tracking along with the ability to manage large inventories.

The good news is we’re looking at two companies that are both committed to adding new features all the time. So in six months or a year, we could be looking at two majorly improved products. We’ll have to see how they stack up then.

Check out our complete reviews for Shopventory and Square for Retail to get a closer look at each. Also, both Square for Retail and Shopventory offer free 30-day trials, so you can test drive both of them (preferably not at the same time) and see which one works better. Thanks for reading and good luck with your search!

The post Shopventory VS Square For Retail appeared first on Merchant Maverick.

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The Best Credit Card Processing Apps for Small Retail Businesses

small-business-credit-card-processing-app

Say you have a small retail business. You don’t have a lot of money to invest in a super-complicated POS, and you don’t want to deal with a multi-year processing contract. Frankly, the idea of trying to narrow down the options in both categories at the same time is a little bit daunting. But enter another option: an app for a tablet (or even a smartphone) that bundles payment processing and POS software all in one go, with no contract or commitment. A single app with all (or at least most) of the features a brick-and-mortar storefront could want. But what are the best credit card processing apps for small retail businesses?

Cost is definitely part of the consideration, but more than that you need to make sure any software you use actually delivers the features you need to run your business. Most processing apps tend not to be as full-featured as a full POS, but they are capable of delivering on core needs. After we go over which features should be a priority, we’ll get into the most promising apps that let you process credit cards and run your business together.

Credit Card Processing Apps For Small Retailers

In addition to choosing apps based on the most useful features, we had two other criteria in choosing the apps: first, they had to be mobile apps for tablets (and preferably smartphones). Second, they must offer a bundled payment solutions. A couple of the options on the list allow you to bring your own processor if you want, but they do offer their own payment option as a default.

In no particular ranking, here are my favorite picks for retail-focused credit card processing apps:

Square

Square business model and mobile credit card processingSquare does have a specialty POS app for retailers, called Square for Retail. That one doesn’t actually make the cut because it’s designed for larger businesses and it actually lacks many features found in the basic free app, Square Point of Sale.

Point of Sale has definitely come a long way from just a basic mobile POS app, and it’s absolutely a solution that will grow with your business. Its clear, transparent pricing strategy (2.75% for swiped/dipped/tapped transactions) and robust app make it an attractive option for retailers. But then there’s the assortment of add-on services (email marketing, appointment scheduling, loyalty, payroll and more) that all integrate seamlessly. Combined with the huge assortment of supported phones and tablets, and the wide mix of supported hardware, and it’s hard not to see the appeal.

While Square does offer payroll and employee management, these features will cost you more — $5 per employee per month for each.

Something I do want to point out: Square does have many iPad-only features, but much of its hardware is equally compatible with Android devices as it is iPads, which is a major departure from most apps that favor the Apple ecosystem.

PayPal Here

PayPal Here review: One of the top Square alternativesPayPal is an obvious choice for a lot of retailers, especially those who sell online as well as in person. If you’re not interested in eCommerce, PayPal is still a good option because it does integrate with some very well known POS systems. PayPal also has its own credit card processing app, PayPal Here.

While PayPal Here is not quite as robust as the other options on this list (especially regarding inventory), it’s a very stable app with great pricing (2.7% per swipe/dip/tap) and a wide array of supported devices and compatible hardware. It’s the only app on this list to support Windows devices at all, and the phones on your tablet or phone doubles as a barcode scanner for both Android and iOS. Plus, you get up to 1,000 free employee accounts.

Plus, near-instant access to funds through your PayPal account is a pretty awesome deal, especially if you get the PayPal Debit card. Add in free sub-user accounts with restricted permissions (something Square will charge you monthly for), and you can see why PayPal makes the cut.

Shopify

Shopify started as an eCommerce offering but these days it’s added a powerful POS app that also works on smartphones as well as tablets. Everything syncs up nicely for a seamless experience whether you’re selling online, in a store, or even on the go, and while the smartphone version of the app is more limited, it’s still quite functional. Shopify’s features definitely line up more with a full-fledged POS than just a mobile POS.

Unsurprisingly, that means it’s a bit more expensive than the two previous options on this list. Shopify’s plans start at a very reasonable $29/month for its online store. If you want the countertop retail solution, that’s a $49 add-on per month, but you don’t need to purchase additional licenses to add more devices, which definitely ups the value.

You can also create staff PINs without creating staff accounts — which means if only a few of you need admin privileges but you do have a large staff and want to track who is running the register, you can get PINs without paying for additional accounts.

However, I do want to call attention to an underplayed solution Shopify offers: its Lite plan. For $9/month, you can sell on Facebook and other social media platforms, add a buy button to your blog, and use the POS app. The caveat is that you can’t add the retail package to it — which means while you have the app, you don’t have support for the receipt printer or cash drawer.

ShopKeep

Like Shopify, ShopKeep is more of a full-fledged POS than a mobile unit. But unlike Shopify, it’s not an eCommerce solution. It’s an iPad POS targeting all kinds of small businesses: retailers, yes, but also restaurants and quick-service environments. ShopKeep specifically targets small and medium-sized businesses, whereas many of these solutions are happy to tout that they work for businesses of all sizes.

ShopKeep’s user interface is highly intuitive, but also feature-rich, which is a major contributor to its popularity. In addition to its advanced inventory tracking tools, you get employee time-keeping, customizable reporting, and more. It also has a record for excellent (unlimited) customer support via email or live chat.

Sadly, there’s no smartphone app support for processing, but ShopKeep does offer integrated payments. Merchants get an interchange-plus plan based on their volume, which is pretty awesome considering there’s no contract involved, either. Everything is on a month-to-month basis. There’s also an additional $69 monthly charge per register.

Honorable Mention: SumUp

While SumUp has a few limitations — it lacks, for example, the ability to process simultaneously on multiple devices — it is overall a solid credit card processing app. The app supports a solid item library and variants, plus convenient tax settings. While there’s no offline mode and no invoicing, SumUp does have an interesting feature in its SMS payments. The app allows you to send a text message to a phone, with a link embedded. Customers can open the link, enter their payment information and complete the transaction.

Pricing is identical to Square for retail transactions: 2.75%. There is no keyed entry option within the app, but the low-priced virtual terminal (at 2.9% + $0.15, even below Square’s rate) is a workaround, though not one you should use for the bulk of your processing.

While new to the US market, SumUp has been operating in Europe for a few years, so it definitely has experience in the processing industry, and so I expect it to see fewer growing pains than other new solutions.

Must-Have App Features for Retailers

It’s safe to say what app features a business needs tends to vary from one business to the next. But there are definitely commonalities — solid inventory management or the ability to print receipts, for example. Check out our comprehensive comparison chart below to see how these systems compare to one another. 

Square for retail review logo imageSquare PayPal Here Shopify Shopkeep SumUp
BASICS
Integrated Processing Yes Yes Yes (Other options available) Yes (other options available) Yes
Processing Rates (for Most Swiped/Dipped Transactions) 2.75% 2.70% 2.70% Interchange-Plus based on volume 2.75%
Monthly Fee $0 $0 Plans start at $9/month $69 per register $0
Number of Devices Unlimited Unlimited Unlimited 1 (additional registers $69/month) 1
Tablet Support Apple, Android Apple, Android, Windows Apple, Android Apple Apple, Android
Smartphone support Apple, Android Apple, Android, Windows Apple, Android N/A Apple, Android
Email/SMS Receipts Email/SMS Email/SMS Email Only Email Only Email/SMS
Receipt Printer Connectivity Bluetooth, Ethernet, USB Bluetooth, LAN, Wireless Bluetooth, USB, LAN Bluetooth, Ethernet Bluetooth, LAN
Cash Drawer Connectivity Yes (Tablet Only, With Printer Connectivity) Yes (With Star Printer Connectivity) Yes (iPad Only, with Printer Connectivity) Yes (With Printer Connectivity) Yes (with Printer Connectivity)
Barcode Scanner Yes (Bluetooth for iPad only; USB for Android) Yes (USB for windows, device camera for iOS/Android) Yes (Bluetooth) Yes (Bluetooth) No
FEATURES
Split Tender Yes Yes Yes Yes No
Offline Processing Mode Yes No Very Limited No No
Full and Partial Returns Yes Yes Yes (including store credit) Yes (Check store credit) Full Only
Sub-User/Employee Accounts Yes (monthly fee) Yes (free) Yes (PINS/accounts) Yes Yes (Limited)
Discounts by $ or % Yes Yes Yes Yes No
Customizable Receipts Yes Yes Yes Yes No
Generate Invoices Yes Yes Yes No No
INVENTORY
Bulk Item Upload Yes No Yes Yes No
Item Counts Yes No Yes Yes No
Item Variants Yes Yes Yes Yes Yes
Item Photo Yes Yes Yes No Yes
Create Item From App or Dashboard Yes Yes Yes Yes No (App Only)

It’s worth mentioning that many of these systems have FAR more features that we don’t cover in this chart (think: virtual terminals, eCommerce support, supported integrations, etc.). If you really want to learn what a system is fully capable of, I recommend checking out our complete review of each credit card processing app.

Processing with Square or PayPal Here? Up Your Inventory Game with Shopventory

With retail environments, inventory is usually a major concern. Shopventory is a monthly add-on that works with Square, PayPal Here, and the Clover system (except Clover Go). It allows for inventory tracking and reporting, bundling, variants, and more. The biggest difference will be that you’ll no longer be using your credit card processing app for inventory reports or management. Everything will be done through Shopventory’s dashboard. Check out our Shopventory review for more information.

Final Thoughts

When it comes to software and processing, there isn’t a good one-size-fits-all solution for merchants. Every business’s needs are unique, so what works best for one business may not be good for another. Many of the credit card apps we’ve listed here have no monthly fees, and others offer free trials or a free pricing quote. They are all top-rated offerings, as well. The biggest difference you’ll find is the feature sets and little differences in the user interfaces.

If you’re on the fence about which to choose, I recommend checking out our full reviews of each product. Got questions? We’re always here to help, so please leave us a comment!

As always, thanks for reading!

The post The Best Credit Card Processing Apps for Small Retail Businesses appeared first on Merchant Maverick.

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The Best Credit Card Processing Apps for Quick-Serve Restaurants

It’s time to upgrade the POS for your coffee shop, but you haven’t got a clue what to look for. Maybe you’re not sure you need a full-fledged POS, or you’re worried about the cost — or you don’t want to be locked into a multi-year credit card processing contract. Where do you even start looking for the right solution?

As far as technology needs go, quick-serve businesses like bakeries, cafes, and ice cream parlors straddle the line between retail shop and restaurant. What POS features work for a retail business won’t quite cut it, but there’s no need for many of the features found in a full-service restaurant POS. Credit card processing apps combine the convenience of a POS and a merchant account into one single solution, with the convenience of a flexible (even mobile) setup.

We looked over the options for quick-serve businesses and put together a list of the best options. But first, a few criteria!

Choosing the Best Apps for Quick-Serve Businesses

A lot goes into choosing a credit card processing app — the cost, of course, as well as features. Our primary criteria, the non-negotiable elements, were that the app was a true app, something available on a tablet (and ideally a smartphone), and that it had a built-in payment processing option offered by default. A couple apps on this list do allow you the choice of integrating your own processor, though you should make sure the rates are competitive if the app charges any additional fees.

Additionally, we narrowed down the options based on whether the apps offered features essential for quick-serve businesses like cafes and ice cream parlors to function. There’s no one-size-fits-all approach, but there are some core themes to look out for. Check out feature comparison chart below for more information, or read on for our top picks for credit card processing apps!

Toast POS

toast pos reviewToast is an award-winning POS targeting all sorts of restaurants, including quick-serve businesses. It runs exclusively on Android tablets, with an intuitive user interface. It’s definitely feature-rich, with several add-on programs you can opt for (inventory, loyalty, online ordering), making Toast even more functional.

Toast only allows you to use its processing services, and your rates will vary. Plans start at $79/month and allow you up to 2 registers; with higher-tier plans (starting at $99/month), you get unlimited registers. It’s also worth noting that Toast, like Square and PayPal, requires you to use its processing services, and your rates will vary.

Breadcrumb POS

Whereas Toast is entirely Android-based, Breadcrumb POS is an iPad-exclusive system that works as part of Upserve’s larger restaurant management ecosystem. Feature-rich and designed to accommodate many types of businesses, Breadcrumb even integrates with GrubHub for online ordering and delivery.

Breadcrumb’s payment processing arm offers interchange-plus plans for merchants: you’ll pay interchange rates plus a $0.15 fee per each transaction. For very small-value tickets, this could wind up being more expensive than a percentage-based transaction, which is worth taking note of. However, an interchange-plus plan on a month-to-month contract is a good deal.

Breadcrumb’s monthly service fee might make to think twice compared to some of the other options on this list, but the value of the features you get is absolutely worth considering. The Core plan will start you at $99/month, with the mid-tier plan starting at $249.

Square

Square business model and mobile credit card processingSquare‘s free mPOS app, Point of Sale, remains hugely popular with all kinds of businesses. But with its inventory management and reporting, as well as custom tipping features, it has the core features most bakeries, cafes, and other quick-serve businesses need to thrive — plus multiple add-ons (such as loyalty and payroll) to make management even easier. The eCommerce integration even allows people to place orders online and pick them up in person, and there’s a delivery system through Caviar.

Without a doubt, one of Square’s biggest draws is its clear, transparent pricing. A solid 2.75% per swipe is very reasonable and the lack of a per-transaction fee keeps the costs down for businesses with low ticket values. There are no mandatory monthly fees, either — you pay only for the transactions you process, and any add-on services you opt into.

PayPal Here

PayPal Here review: One of the top Square alternativesPayPal’s mPOS solution, PayPal Here, isn’t quite as robust as the full-fledged POS systems that PayPal also integrates with. But it’s a highly mobile app available on multiple platforms, including Windows devices. The app doesn’t have a glut of features the way Square does, but it has all the essentials, from tipping to discounts.

Like Square, one of the big draws — especially if you have a small average ticket size — is its pricing: 2.7% per swipe, with no monthly fees. PayPal’s easy integration with all sorts of eCommerce services and instant access to funds also tend to be big draws for merchants.

ShopKeep

Rather than build a solution that appeals to businesses of all sizes, ShopKeep opted to tailor its POS software to small and medium-sized businesses, a decision that continues to define its capabilities. However, the company does cater to small and medium businesses in a variety of industries, including quick-serve businesses.

Feature rich and highly intuitive, ShopKeep even offers advanced inventory and timekeeping at no extra charge, which definitely adds to the value.

ShopKeep’s payment processing arm offers interchange-plus plans based on your monthly volume, which means possible per-transaction fees. ShopKeep charges $69/month per register, but has no contracts or other monthly fees, all of which are a great deal for merchants.

Must-Have Features for Quick-Serve Businesses

Apart from being a tablet app with integrated processing, I looked at some other features in creating my list. Menu creation is important — and while variants are great, the presence of categories and add-ons was more important. Tipping, kitchen receipt printing, and location management also merited consideration. Check out the table below for detailed information.

Toast Breadcrumb reviewBreadcrumb Square for retail review logo imageSquare PayPal Here Shopkeep
BASIC TECH
Integrated Processing Yes Yes (other options available) Yes Yes Yes (other options available)
Processing Rates (for most swiped/dipped transactions) varies interchange + $0.15 2.75% 2.70% Interchange-Plus based on volume
Monthly Fee $79 and up $99 and up $0 $0 $69 per register
Number of Devices 1-2 for base plan, unlimited for higher plans 1 ($50/additional) Unlimited Unlimited 1 (additional registers $69/month)
Tablet Support Android Apple Apple, Android Apple, Android, Windows Apple
Smartphone support N/A N/A Apple, Android Apple, Android, Windows N/A
Email/SMS Receipts Email/SMS Email Only Email/SMS Email/SMS Email Only
Receipt Printer Connectivity LAN Wi-Fi, Ethernet Bluetooth, Ethernet, USB Bluetooth, LAN, Wireless Bluetooth, Ethernet
Cash Drawer Connectivity Yes Yes (With Printer Connectivity) Yes (Tablet Only, With Printer Connectivity) Yes (With Star Printer Connectivity) Yes (With Printer Connectivity)
FEATURES
Split Tender Yes Yes Yes Yes Yes
Offline Processing Mode Yes Yes Yes No No
Sub-User/Employee Accounts Yes (free) Yes (free) Yes (monthly fee) Yes (free) Yes (free)
Tips by $ or % No (By % only) No (By % only) Yes Yes Yes
Add Tip after Signing Yes Yes Yes (iPad only) No Yes
Customizable Receipts Yes Yes Yes Yes Yes
Kitchen Ticket Printing Yes Yes Yes (iPad only) No Yes
Multi-location management Yes Yes Yes No Yes
MENU
Bulk Item/Menu Upload No Yes Yes No Yes
Item Counts With Inventory add-on Yes Yes No Yes
Item Add-Ons/Modifiers Yes Yes Yes Yes Yes
Item Photo No No Yes Yes No
Create Item from App or Dashboard Yes Yes Yes Yes Yes
Item Grouping/Sub-categories Yes Yes Yes Yes Yes

You can also browse our restaurant POS software and mobile payments categories for more solutions!

Final Thoughts

There’s never one right answer to the question “which software is right for me?” The best we can do is say “This is a good choice for lots of businesses” and explain the caveats. As far as credit card processing apps for quick-serve businesses, you need to have a firm number in mind for how much you’re willing to pay, and know which features or abilities the app must have, and go from. Our top picks — Toast, Breadcrumb, Square, PayPal Here, and ShopKeep are all targeted at the industry and so they do have some similarities and core capabilities. But you’ll also find major differences in costs and some features (inventory being a noteworthy one). So know what you need and make sure the system you choose fulfills those basic requirements.

As always, thanks for reading! If you’ve got questions, we’d love to help you out. Check our comment guidelines and leave us a comment!

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The Best Credit Card Processing Apps For Mobile And Service Businesses

mobile-card-payment-app-service

Being able to take payments on the go without having to jump through five million hoops is crucial for mobile businesses, whether you’re a service business that visits customers at home or just a small business without a permanent storefront. That’s where credit card processing apps come in: Combining integrated payments and feature-rich POS systems that run on smartphones and tablets, they’re designed to operate anywhere you can get a cellular or Wi-Fi signal.

We took a look at the most promising credit card processing apps for mobile and service businesses, comparing their features as well as their processing rates. Then, we compiled the best options into a list!

Choosing the Best App Features for Mobile & Service Businesses

If your business is primarily service-based or you tend to do more pop-up sales and events than deal with retail storefronts, you probably don’t need (or want) a whole lot of hardware. What you do need is an EMV-friendly reader and a smartphone or tablet to run the system from.

We used two primary criteria in deciding this list: first, the product has to have integrated payment processing, and the app must be available on a tablet (preferably a smartphone as well).

While hardware may not be a priority, knowing which systems can work as a countertop system as well as mobile is helpful. Invoicing, virtual terminals, solid sales tax management, and decent item libraries were also factors. Take a look at our comprehensive comparison chart to figure out which system might work best for your particular needs.

Square for retail review logo imageSquare PayPal Here Shopify Payline Mobile SumUp
BASICS
Integrated Processing Yes Yes Yes (Other options available) Yes Yes
Processing Rates (for most swiped/dipped transactions) 2.75% 2.70% 2.70% Interchange + 0.5% or 0.3% 2.75%
Monthly Fee $0 $0 Plans start at $9/month $0 / $9.95 $0
Number of Devices Unlimited Unlimited Unlimited Unlimited 1
Tablet Support Apple, Android Apple, Android, Windows Apple, Android Apple, Android Apple, Android
Smartphone Support Apple, Android Apple, Android, Windows Apple, Android Apple, Android Apple, Android
Email/SMS Receipts Email/SMS Email/SMS Email Only Yes Email/SMS
Receipt Printer Connectivity Bluetooth, Ethernet, USB Bluetooth, LAN, Wireless Bluetooth, USB, LAN No Bluetooth, LAN
Cash Drawer Connectivity Yes (Tablet Only, With Printer Connectivity) Yes (With Star Printer Connectivity) Yes (iPad Only, with Printer Connectivity) No Yes (with Printer Connectivity)
FEATURES
Split Tender Yes Yes Yes Yes No
Offline Processing Mode Yes No Very Limited No No
Full and Partial Returns Yes Yes Yes (including store credit) Yes Full Only
Sub-User/Employee Accounts Yes (monthly fee) Yes (free) Yes (PINS/accounts) Yes Yes (Limited)
Discounts by $ or % Yes Yes Yes Yes No
Tipping by $ or % Yes Yes No Yes Yes
Multiple Tax Rates Yes Yes Yes Yes Yes
Adjust Tax Rates In-App Yes Yes Yes Yes Yes
Customizable Receipts Yes Yes Yes Yes No
Generate Invoices Yes Yes Yes No No
Virtual Terminal Yes Yes (monthly fee) No Yes Yes
INVENTORY
Bulk Item Upload Yes No Yes No No
Item Counts Yes No Yes No No
Item Variants Yes Yes Yes No Yes
Item Add-ons Yes Yes No No No
Item Categories Yes Yes Yes No Yes
Item Photo Yes Yes Yes Yes Yes
Create Item from App or Dashboard Yes Yes Yes Yes No (App Only)

You can check out our reviews of each service for more information about features, user experience, and more.

Square

Square business model and mobile credit card processingSquare made its name with a mobile processing service that anyone could use, and while the company is definitely catering to larger entities these days, small and mobile businesses still make up a good portion of Square’s merchants. Square’s totally free processing app makes it easy to create an item library of physical products as well as services.

Square’s tax rate settings are easily adjustable from within the mobile app and you can pre-program different rates if you find yourself flipping between different locations often.

In addition, Square offers invoicing, recurring invoicing/storing cards on file, and a free virtual terminal. You can even integrate Square’s appointment booking software seamlessly.

Square will charge you 2.75% per swiped transaction, but invoicing will run you 2.9% + $0.30, and virtual terminal transactions will cost you 3.5% + $0.15.

PayPal Here

PayPal Here review: One of the top Square alternativesPayPal Here is another staple of mobile businesses with a free mobile app. PayPal has the advantage of massive eCommerce support as well as a solid mPOS so you can seamlessly blend different aspects of your business. Plus, your funds are available almost instantly in your PayPal account, and with the PayPal debit card, you can spend them anywhere. The free mobile app isn’t quite as feature-rich as Square’s, but it’s highly capable.

You’ll also find PayPal Here’s tax settings are adjustable within the app and you can easily accommodate different sales tax rates. Like Square, you get free in-app invoicing. However, if you are looking for a virtual terminal or recurring billing, they’re going to run you an additional $30 and $10 per month, respectively, which is a fairly high price tag.

You’ll pay 2.7% per transaction in the app, whereas invoices will run you 2.9% + $0.30. Virtual terminal transactions (not counting the monthly fee) cost 3.1% + $0.15.

Shopify

Shopify started out as just an eCommerce offering but it’s expanded into a multi-channel solution for business. You can get Shopify’s Point of Sale app for as little as $9/month with the Lite plan, or you can upgrade to a countertop-friendly version with the Retail package, and even add on integrations for appointment booking. However, if you don’t /need/ a receipt printer or cash drawer and don’t sell through your own site online, the Lite plan will absolutely get you through.

Shopify isn’t the most advanced credit card processing app out there — for example, it doesn’t support tipping — but overall it has most of the features mobile and service-based businesses need, and its integration with the eCommerce tools is definitely an asset. It even allows invoicing.

Shopify allows you to set a tax rate for a shop location and create overrides and exemptions. One thing I do like that I don’t often see in these sorts of apps is tax rates based on GPS location, which eases the burden on you considerably.

For Shopify Payments (the default processing method), you’re going to pay 2.7% per transaction to start out, though if you opt for the higher-tiered plans you’ll see some savings.

Payline Mobile

Payline is one of our favorite merchant account providers, and we like their mobile solution because it’s available independently of the other offerings and suitable for low-volume businesses, which isn’t common with traditional merchant accounts.

The app is overall solid, with inventory features, tipping, and discounts. While there’s no invoicing feature, the mobile plans do offer access to a virtual terminal. The app is also designed for mobile use only: it doesn’t support retail/countertop processing features like cash drawers or receipt printers. However, Payline supports multiple tax rates for different items as well as a master tax rate for checkout, depending on your needs.

Payline’s mobile products offer interchange-plus pricing, too: the Start plan (formerly Spark Plan) will charge you 0.5% over interchange plus $0.20 per transaction with no monthly fee; the Surge plan charges a 0.3% markup plus $0.20, with a $9.95 monthly fee. The $0.20 per-transaction fee is a little high, but doesn’t put Payline Mobile in the realm of unreasonable pricing. However, it does mean businesses with larger ticket sizes will feel the effects of that per-transaction fee less.

Spark Pay

Capital One’s mobile processing solution Spark Pay is part of the larger “Spark” line of businesses solutions, which includes a fairly advanced online store. However, despite that, Spark Pay the mobile app stands alone, with no integrations.

It has all the major features a merchant would need — tipping, custom discounts, an item library, and support for a countertop setup. Unfortunately, there’s no invoicing, and Spark Pay’s virtual terminal is only in beta mode. You can only set one tax rate in the app as well. However, the major shortcoming is simply that while Spark Pay does offer EMV terminals, there’s not currently an EMV-compliant mobile reader, something that all the other options here do offer.

That said, Spark Pay does offer great customer service, and its pricing is competitive. On the Go plan, there’s no monthly fee and transactions cost 2.65% + $0.05. The Pro plan has a $19 monthly fee, but your rates drop to 1.99% + $0.05.

SumUp

SumUp has been operating in Europe for several years now, but it’s only reached the US in the past year, which definitely makes it the newcomer. The app is overall solid, though more limited than the others on this list.

You do get a free mobile app and free virtual terminal, as well as a fairly unique tool: SMS payments where customers can complete a transaction by opening a link sent through text message.

However, you can only process on one device at a time, so while you can create sub-user accounts, there’s not much of a benefit. SumUp does support multiple tax rates, but tax rates can’t be deleted when they are associated with an item. You’ll have to delete the item first.

The lack of discounts and the ability to make some changes through the dashboard are a bit disappointing — but the fact that you can manage everything from within the app is a major improvement over a platform like Clover Go, which requires you to make many adjustments in the web dashboard.

There are no recurring billing or card-on-file options, though, and no invoicing, either. That said, SumUp charges a simple 2.75% per transaction, and 2.9% + $0.15 for virtual terminal and SMS payments, with no monthly fee.

Final Thoughts

I’m usually pretty hesitant to recommend one product above all others without consideration of the differences from one business to the next. And that’s true here. If you really only have simple needs, any of the options on this list will serve you well. As your needs get more advanced, it’s definitely worth looking at more advanced setups such as Square or PayPal Here. And as always, the price is a major consideration. Make sure you run the numbers and are confident the rates you will pay are competitive.

The good news is that all of these services have a no-monthly-fee option so you can try them out with no risk. I encourage you to check out our complete reviews of any credit card processing app you’re interested in pursuing. And if you have questions, I encourage you to reach out. We’re always here to help, so feel free to leave us a comment!

The post The Best Credit Card Processing Apps For Mobile And Service Businesses appeared first on Merchant Maverick.

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Merchant’s Help guide to Stopping Card-Present Fraud

Charge card fraud, for most of us, invokes 1 of 2 scenarios. First, you will find data breaches à la Target or Lowe’s, where thieves connect to the system and steal charge card figures, names, along with other data. Beyond that, you may consider online card fraud, where shady people use stolen card figures (sometimes acquired in data breaches such as the formerly pointed out ones) to purchase a lot of stuff online. Even though you start digging into ways retailers can safeguard against card fraud, the overwhelming quantity of sources are directed at eCommerce an internet-based transactions, and the ways to prevent fraud there. There isn’t many details whatsoever about card-present fraud — that’s, transactions which are still not legitimate but occur inside a store, in which the card is swiped or dipped.

Overall, card-present charge card fraud is really a smaller sized bit of the cake than online fraud, that is likely why there is a disproportionate quantity of sources regarding internet-based cons. But it’s still necessary that retailers take each step they are able to to safeguard themselves. Which includes being aware of what risks you face within the brick-and-mortar atmosphere.

Table of Contents

Understanding the kinds of Charge Card Fraud

I’m penning this mostly to describe how to prevent fraud. I shouldn’t enter into all the various scams and methods that fraudsters use because you can write a little ebook about them. But generally, all charge card fraud (or bank card fraud) falls into 1 of 3 groups:

  • Cloned/Counterfeit Card Fraud: This is a kind of card-present fraud in which the fraudster forges a card with another person’s username and passwords and uses it inside a brick-and-mortar storefront.
  • Lost/Stolen Card Fraud: This kind of fraud is most familiar to consumers, and sure concern for a lot of retailers: a fraudster using another person’s card to create a transaction (frequently a really large one). This could happen online or perhaps in a store.
  • Card-Not-Present Fraud: Any kind of fraudulent online transaction falls into this category, simply due to the credit card not swiped or dipped. While there are several tools retailers may use to mitigate this risk, generally, it’s the easiest kind of fraud to commit. CNP fraud comprises nearly all card fraud, especially as EMV makes it harder to clone or counterfeit cards.

It is also important to note there’s a couple other kinds of fraud retailers have to be cautious about:

  • ATM Fraud: Scammers uses a couple of different tactics to obtain either money or card data from ATMs, including installing card skimmers (we’ll discuss individuals inside a bit) or deliberately blocking the money distribution mechanism. For those who have an ATM on-site at the business, be familiar with it as being a possible target.
  • Check Fraud: Checks are certainly decreasing. Actually, based on the Fed, the entire quantity of check payments produced in the U.S. fell typically 6.2 percent each year from 2000 to 2012, and from 2012 to 2015, fell by typically 4.4 % yearly. In 2015, consumers authored as many as 19.4 billion checks, that was a complete loss of 3.1 billion over 2012 figures. However, the Given also reports that the need for the checks risen has elevated — and therefore while individuals are writing them less often, they have a tendency to create them for more and more bigger purchases. Check acceptance isn’t universal, however if you simply do accept checks, utilizing a digital service for example Telecheck to instantly convert payments and flag dangerous transactions is a great way to safeguard yourself.

I am not likely to really enter into CNP fraud, as the majority of it requires running an eCommerce store. This short article won’t cope with ATM or check fraud in-depth simply because they don’t affect nearly all retailers. Our focus is particularly card fraud at brick-and-mortar stores, whether it is debit or charge card related.

The Charge Card Fraud Game-Changer: EMV

Before the EMV liability shift required place, fraud experts were predicting that CNP fraud would increase with a tremendous amount in america because other nations that implemented EMV observed an identical pattern, and individuals predictions have held true. Credit monitoring agency Experian reported a rise of CNP fraud totaling 33% when compared with 2015.

One of the reasons for elevated CNP fraud may be the development of shopping online. As increasing numbers of use online, the entire amount of charge card fraud is likely to increase. However, the rollout of EMV can also be playing a job within the increase of card-not-present fraud.

Particularly, the chips in EMV cards tend to be harder to repeat and reproduce than the usual magstripe card (which is dependant on technology straight from the 1970s). So rather, scammers are switching to purchasing online, where you can find no techniques to physically authenticate the credit card. Rather, most security checks depend around the CVV or AVS checks to recognize suspicious transactions.

That’s not saying cloned or counterfeited cards aren’t an issue whatsoever. They’re. EMV market saturation in america isn’t 100%, as well as if consumers have nick cards, that does not mean retailers are outfitted to simply accept nick cards. As well as if counterfeited card fraud is decreasing, there’s still lost/stolen card fraud to bother with.

6 Methods to Reduce Charge Card Fraud in Brick-and-Mortar Stores

So, your house you need to antiques store. Someone is available in to purchase some furniture for his or her new house. Two days and a few 1000 dollars later, you discover the card used would be a stolen card. The cardholder has filed a chargeback, meaning the entire transaction amount continues to be deducted from your bank account and put on hold pending analysis. Not just that, but you’re the actual merchandise, effectively doubling whatever is lost.

Regrettably, this could and does occur to retailers. Although some industries are much more likely than the others to become victims of card fraud, any and each business should know the potential risks and take safeguards.

Which industries are most in danger? Based on an american Bank presentation, a few of the MCCs (merchant category codes, accustomed to identify the kind of services or products a business offers) which are most focused on fraud range from the following:

  • 5411: Supermarkets and Supermarkets
  • 5732: Electronics Stores
  • 5812: Dining Establishments and Restaurants
  • 5999: Miscellaneous and Niche Stores
  • 4722: Travel Agencies and Tour Operators
  • 5311: Shops
  • 5661: Shoe Stores

Exactly what do you need to do to safeguard yourself? To begin with, you should know of whether you’re in the kind of industry that’s enjoy being focused on card-present fraud. A dry-cleaning business or perhaps a cafe? Most likely less. An gallery, a furniture or electronics store, or other business where consumers can drop hundreds or 1000s of dollars all at once? Most certainly a target.

Second, make certain you implement procedures and policies that will help mitigate fraud. We’ll begin with a very fundamental one, that we suspect lots of retailers overlook:

1. Check Network Guidelines for Card Acceptance

I mention mtss is a lot — by a great deal, I am talking about in nearly every review I write — but READ YOUR CONTRACT. Understand what you’re signing and just what rules and needs you’re being certain to. It’s important to maintain your credit card merchant account open so that you can keep accepting cards. But it’s also wise to consider the merchant guidelines the various card systems (Visa, MasterCard, American Express and Uncover) offer. They often cover guidelines for example displaying marks of acceptance, surcharging, and minimum/maximum transaction amounts. Hidden in individuals guidelines will also be policies which cover safety measures you’re likely to take and list of positive actions if you feel a card is fraudulent or even the transaction otherwise seems suspicious.

To help you get began, I suggest checking the Visa card acceptance guidelines, in addition to MasterCard’s rules.

2. Secure Your POS and Hardware

What is POS

In addition to the threats resulting from counterfeited or stolen cards, it’s also wise to be familiar with the opportunity of an information breach. If a person has the capacity to access the body and compromise your customers’ private information, it may be devastating for both you and your business. Data breaches can occur in lots of ways.

Among the apparent ones is skimming, in which a fraudster installs a tool over your terminal or pin pad that captures the credit card data and stores it. Skimmers may take only seconds to set up and therefore are difficult to place unless of course you are aware how to acknowledge the twelve signs. Scammers may also result in a data breach by using adware and spyware in your POS system or else hacking it. They are more complex techniques in most cases directed at high-value targets, but they’re possible you should know of, particularly if you store any type of customer data.

PCI Compliance: What you ought to Know

Technically, PCI DSS compliance (usually just known as PCI compliance) isn’t just about POS systems. Sturdy your hardware, too. More often than not that’s lumped along with your POS, though, particularly if you come with an integrated solution.

PCI DSS means Payment Card Industry Data Security Standard. It’s a unified policy indicating the steps retailers have to take to secure their transaction data through hardware and also the POS system, laid by the PCI Security Standards Council. Retailers are sorted into certainly one of four levels with respect to the type and number of transactions yearly. Most small companies are Level 3 or Level 4, that have the least steps to consider to keep compliance.

There’s an excellent chance that, should you didn’t construct your system yourself, you’re already PCI compliant. Software and equipment vendors will need to go via a certification process when they handle payment card information. However, should you store any customer data (particularly in a database you develop and keep yourself) or route it via a website you maintain yourself, that won’t function as the situation. You need to speak to your credit card merchant account provider or software vendor by what steps are needed to make sure your compliance. You might be needed to accomplish quarterly scans or self-assessments.

PCI compliance could be summarized into 12 points of action lumped into six groups. The reason here is obtained from the PCI SCC Quick Reference Guide.

Build and keep a safe and secure Network
1. Install and keep a firewall configuration to safeguard cardholder data.
2. Don’t use vendor-provided defaults for system passwords along with other security parameters.

Safeguard Cardholder Data
3. Safeguard stored cardholder data.
4. Secure transmission of cardholder data across open, public systems.

Conserve a Vulnerability Management Program
5. Use and frequently update anti-virus software or programs.
6. Develop and keep secure systems and applications.

Implement Strong Access Control Measures
7. Restrict use of cardholder data by business have to know.
8. Assign a distinctive ID to every person with computer access.
9. Restrict physical use of cardholder data.

Regularly Monitor and Test Systems
10. Track and monitor all use of network sources and cardholder data.
11. Regularly test home security systems and procedures.

Maintain an info Security Policy
12. Conserve a policy that addresses information to safeguard all personnel.

For retailers, I believe the important thing takeaway is the fact that PCI compliance (and knowledge peace of mind in general) isn’t a one-and-done type deal. You have to positively take preventive steps and monitoring the body, from updating software and firmware when updates seem to watching the employees and ensuring they’re educated on card security issues and proper procedures to handle.

Beyond PCI Compliance: How to maintain your POS (and knowledge) Secure

Learning all the intricacies of PCI compliance is most certainly challenging for anybody, the experts! However, since, data security isn’t something take proper care of once rather than consider again, you need to certainly take a moment to discover security.

Two big terms at this time are file encryption and tokenization. PCI DSS signifies that the POS and hardware should secure transactions. There’s two major kinds of file encryption, point-to-point and finish-to-finish.

Tokenization isn’t yet a business standard, though it’s increasingly common, mostly because of NFC/contactless payments. Tokenization generates a 1-time-use card number and substitutes it for that actual card number. Even when information is breached and decrypted, that tokenized number is useless to scammers. That’s just how Apple Pay and Samsung Pay and Android Pay keep the card data secure: Your card number is kept in a cloud vault which your phone have access to. Your phone generates the token and passes it to the system, which verifies the amount.

If you would like to understand more about how you can secure your POS, check out our POS 101 article around the subject, in addition to PC Mag’s article regarding how to place skimmers.

3. Capture Signatures, Even on Low-Value Transactions

accept mobile credit card payments

Credit (and debit) cards possess a space around the back for customers to sign them because, theoretically, retailers are meant to compare that signature towards the one around the receipt as a way of verification. The truth is couple of or no retailers really do that.

Within the interest of speeding along transactions, particularly in environments where customers be prepared to be interior and exterior the checkout fairly rapidly, the credit card systems have relaxed their guidelines with no longer need a signature on all transactions. Low-value transactions (under $25 or $50 with respect to the network) frequently waive the signature requirement.

mPOS systems — Square, PayPal Here, SumUp, etc. — plus some POS systems frequently allow retailers to disable signatures on low-value transactions. For mPOS systems, the brink is generally $25. For full-fledged POS systems, that threshold may also be in the merchant’s discretion.

Realistically speaking, quick-serve cafes and restaurants, supermarkets, etc., where you’re likely to encounter low-value transactions, aren’t an enormous risk. And also the losses, unless of course you’re experiencing a huge string of fraudulent transactions, are minimal. It isn’t that you simply absolutely must enable signatures on all transactions to safeguard yourself. That’s not true. However if you simply want to maximise your protection out on another mind the additional time to gather a signature throughout the checkout phase, you are able to enable them.

For top-value transactions, you need to absolutely be collecting signatures on everything. Actually, for large transactions, signed invoices are an easy way to safeguard your company and reduce the chances of chargebacks.

4. Request Customer Identification

Some consumers, rather of filling out the backs of the cards, decide to write “SEE ID” for the reason that space. This informs retailers they ought to request a photo ID and compare it towards the name around the card.

A great practice. Not every retailers get it done, especially with increasingly more consumer-facing PIN pads and terminals in which the cashier never handles the credit card.

But there’s only one small problem:

A merchant can ask to determine a photograph ID for any transaction, but legally, the customer isn’t obligated to supply it. Visa’s guide, 5 Important Visa Rules That Each Merchant Ought To Know, explains it such as this:

“A Merchant may request cardholder identification inside a face-to-face atmosphere. When the name around the identification doesn’t match the name around the card, the merchant could decide whether or not to accept the credit card. When the cardholder doesn’t have, or perhaps is reluctant to provide, cardholder identification, the merchant should recognition the credit card should they have acquired evidence of card presence, a legitimate authorization, along with a valid signature or PIN.”

Therefore if a person provides an ID that does not match the name around the card, the merchant can pick to say no the transaction. When the customer will not offer an ID or doesn’t have one, Visa’s rules condition that you ought to process the transaction, provided you will find the card in hands plus they sign or enter their PIN.

That stated, requesting ID continues to be generally a great policy. Just be familiar with the credit card systems acceptance rules (see point #1 above).

5. Avoid Keyed Transactions

It’s story time!

A lengthy, lengthy time ago (OK, a lot more like eight years back), after i labored like a cashier somewhere that shall ‘t be named, I recall from time to time getting to place a card inside a plastic grocery bag and swipe it to obtain the POS to see it. I’m still unsure why this labored, however it did. Them which had this issue were usually old and worn — sometimes worn to the stage the elevated figures weren’t as elevated because they must have been, and also the whole card appeared thinner, even extended. They often left worn-lower, overstuffed wallets, therefore i just generally assumed the put on evolved as the result of in which the card was stored. Sometimes, though, even that didn’t work, since the card might have a split inside it within the magstripe or it simply wouldn’t read. In individuals cases, I could (and did) by hand go into the card.

I do not determine if the cards I processed by doing this were fraudulent, but I know since it was a danger. Card network guidelines, in addition to other security experts, suggest that you inspect the physical card for indications of damage or tampering before you decide to process a transaction. Broken cards — particularly if it normally won’t swipe — can (but don’t always) indicate counterfeit or cloned cards. Entering the transaction means the POS does not have to physically look into the card, because it’s treated like a card-not-present transaction.

First, keyed transactions always are more expensive than swiped or dipped ones. PayPal and Square both charge 3.5% + $.15, that is well over the 2.7% and a pair of.75% (correspondingly) they charge for swiped or dipped transactions. Traditional merchant services may also assess a greater fee, although it varies more.

Second, getting a lot of keyed transactions is frequently a warning sign for a free account provider. It shows that someone may be processing cards that aren’t even physically contained in the shop, that is, clearly, a large no-no. A particular quantity of keyed transactions should be expected, but a lot of can result in a hold, freeze, or termination.

So your very best to prevent entering card information, because this will safeguard your company. Most security experts also recommend searching at the processing background and making note associated with a patterns — whether these transactions happen in a particular time consistently, or maybe one cashier is much more vulnerable to keyed transactions than the others.

6. Change to EMV Acceptance

EMV credit card terminal

Should you not curently have a POS and hardware that accepts EMV transactions, it’s about time you are making the switch. No exceptions, no excuses. Yes, it may appear costly, you will find, the EMV rollout continues to be rather slow partly due to the backlog on hardware and software certifications. But there are many EMV-certified hardware and software open to retailers. If you were postponing the switch, just start it already. It’s probably the most important methods for you to safeguard your company from charge card fraud.

Like I stated earlier, it’s a great deal harder (not possible, but very, very hard) to repeat a nick card. That is why many scammers are relocating to CNP fraud. On October 1, 2015, liability for fraudulent nick card transactions shifted in the banks to “the least-secure party,” which within this situation means retailers who aren’t outfitted to simply accept EMV.

Remember the instance I began with, using the antique furniture. Repeat the person purchasing the products have a counterfeit nick card. However, you, the merchant, have only a magstripe readers. If you’d had an EMV readers, it could have been in a position to identify the card was fraudulent. But rather, you processed the magstripe transaction — which leaves you entirely responsible for the entire mess.

The problem could be different when the fraudster were built with a stolen EMV card and tried on the extender in an EMV terminal. For the reason that situation, the liability would fall around the card provider.

Should you haven’t already, get EMV-capable card-readers and make certain your POS is EMV certified, too. It’s absolutely worthwhile, and every one of our top-rated merchant providers offer EMV acceptance, just like our top-rated mPOS providers.

Conclusion: How Large a danger is Card-Present Charge Card Fraud?

Realistically, retailers who sell online face an even bigger threat than brick-and-mortar retailers. That’s largely because of the EMV liability shift and rollout of nick cards. Unfortunately, even nick cards can’t safeguard against stolen or lost card fraud. And until EMV market saturation hits 100%, there’s still a danger of accepting counterfeit cards.

Fortunately, you are able to take measures to safeguard your and yourself business. Understanding is power, especially within the payments industry. So review your processing contract, the credit card networks’ laws and regulations, and also the legal matters affecting your industry. Make certain that you simply keep the POS secure, out on another overlook simple defenses for example collecting signatures or requesting IDs, and keeping keyed transactions low. Applying EMV, should you haven’t already, is among the most critical methods for you to safeguard your company.

If you have questions, we’d like to respond to them! Take a look at our comment guidelines by leaving your question inside a comment. Thanks for studying!

Melissa Johnson

Melissa Manley is definitely an independent author and editor who loves e-commerce, internet marketing, technology, and social networking. Not so long ago, she earned a journalism degree, but she continued to uncover that they could work at home, researching, editing, and covering the items she found most fascinating. When she’s not associated with her laptop, Melissa usually can be based in the kitchen, studying a magazine, or doing something from the nerdy persuasion.

Melissa Johnson

“”

Top 7 Square Alternatives

square-alternatives

Created by the one and only Twitter cofounder Jack Dorsey, Square is definitely an innovative mobile payment system that allows your business to accept charge card payments with an iPad, iPhone, or Android device. Along with the disposable Square Readers, a little plastic charge card readers that connects to the audio jack of the supported smartphone or tablet, the Square Register application turns a mobile phone into an item of purchase. It’s very awesome, yes, but it is also a problem. Due to the way Square has changed how huge numbers of people purchase things – and obtain compensated for things – I’d argue that it is revolutionary.

Certainly, Square may be the greatest player in mobile payment processing. Since its 2009 founding, the company’s groundbreaking concept and stylish design have attracted greater than 3 million users and $10 billion in annual payments. Quite simply, they’re a problem.

A few of the stuff you most likely love about Square include its fast and free setup and it is easy-to-use interface. Additionally to serving as an item of purchase, Square facilitates payment processing. Square doesn’t have monthly usage charges, charging merely a flat 2.75% fee for magstripe card transactions, nick card transactions, and NFC payments.

Despite its immense recognition, Square isn’t without its downsides – in fact, Square’s flaws aren’t any small matter. Troublingly, Square offers hardly any when it comes to customer support, and lots of business proprietors have were not impressed with Square withholding funds and shutting lower accounts without a good enough reason. Not awesome, Square. Not awesome.

While Square was among the only mobile payment games around 5 years ago, this really is, fortunately, no more the situation. If you wish to offer customers mobile payment options utilizing a service having a more merchant-friendly status, you can look at out several robust Square alternatives that suit this profile. Heck, even when you’re pleased with Square, you may consider offering yet another mobile payment option to give customers more options. The following is my breakdown from the top Square alternatives.

Table of Contents

1. Clover Go

Clover-go-logo

Clover Go (see our review) may be the mobile form of the super-popular Clover suite of POS products. Clover Go is simple to use, nick card-compatible, and uses an actual credit card merchant account. And even though it’s a mobile POS, you still obtain access to Clover’s back-office reporting featuring like customizable tax, email/SMS receipts, featuring from inventory management softwares. You may also use Clover Go as an additional “on-the-go” payment option additionally for your primary Clover Station.

As the other Clover POS systems (Clover Station and Clover Small) need you to purchase proprietary hardware, Clover Go enables you to make use of an iPhone or Android phone, much like Square. The price of Clover Go’s EMV-compliant headphone jack card readers varies somewhat with respect to the reseller, however, you will be able to have it for under $100. The price to use and process payments with Clover Go also depends upon the reseller – for instance, if you choose to opt for Dharma A Merchant Account for the credit card merchant account, you will get interchange-plus prices at .25% + $.10 plus a $25 fee every month, along with a $10 fee to make use of the Clover Go application.

Why is Clover Go much better than Square?

The primary advantage of Clover Go compared to Square is you obtain a real credit card merchant account with Clover Go, as opposed to the aggregate account you receive with Square. This equates to better account stability and reduced chance of account freezes, withheld funds, along with other such headaches. The only real caveat is that your merchant account provider must use First Data since it’s backend processor. Companies with greater sales volumes will also be able to save cash with Clover Go.

2. iZettle

izettle-logo

iZettle (see our review) is really a nick card-based mobile payment service that presently serves retailers in Norway, Norwegian, Denmark, Finland, the United kingdom, Germany, The country, Mexico, and South america. Particularly absent out of this list may be the US. However, with nick card usage increasing, iZettle’s expansion in to the US might be imminent. (If right now you’re thinking, “What the heck is really a nick card?” take a look at our article Do You Want an EMV Nick Card Terminal?)

To process mobile payments, iZettle offers two separate mobile charge card readers, including one which works together with nick and PIN cards, and the other for nick and signature cards. Within the United kingdom market, card readers vary from £20 to £59 – about $32 to $93 for all of us Yanks.

The primary draw of iZettle is its low ultra-low processing charges, which start just 1.00% for top-volume retailers. As the cheapest volume retailers pays 2.75% per transaction, when you hit £2,000 in card payments inside a month, your fee begins to drop, going as little as 1.00% should you accept greater than £40,000/month in payments.

Some options that come with iZettle’s mobile point-of-purchase (POS) application include:

  • Inventory library
  • Cash drawer/receipt printer connectivity (receipts may also be sent by email)
  • Cash/card acceptance
  • Online reporting tools
  • Multiple staff accounts

Around the customer support side, iZettle offers email support and make contact with support during week day business hrs. As with all the Square competitors about this list, iZettle has less complaints about its customer care than does Square.

Why is iZettle much better than Square?

When compared with Square, iZettle offers both superior prices and reliability. It doesn’t offer you as numerous features, however, you cannot beat iZettle’s prices if you’re a greater-volume merchant. Although this Square alternative isn’t yet offered in america, it’s a good option for retailers within the markets it serves and could soon be considered a strong domestic competitor for Square too.

3. PayPal Here

paypal-here-logo

Everyone knows PayPal, but have you ever heard of PayPal Here? PayPal Here (PPH- see our review) is PayPal’s popular mobile processing service having a model much like Square’s. It takes a PayPal Business or Premier account, however the upgrade from the personal PayPal account is free of charge, out of the box the application and card readers.

Additionally to accepting swiped or keyed-in charge card payments, PPH’s readers may use image capture (i.e., your smartphone’s camera) to deposit checks, and also the service also accepts PayPal payments, as you may expect. It really works with many Apple devices and a few Android and Home windows devices.

PPH comes with the standard features (mobile card processing, mobile POS, free mobile application, free audio jack swiper), and also the service also provides the benefit of access immediately to funds by your PayPal account.

Exactly why is PayPal Here much better than Square?

PPH provides more features as well as an overall superior consumer experience in comparison with Square, or when compared with nearly any standalone mobile processing service. PPH also offers lower charges (2.7% per card swipe, with no fee every month) when compared with Square.

Like the majority of other mobile payment solutions, PPH also comes with much better customer care than Square. PPH uses PayPal’s primary support system, including several choices, varying from phone support to some Twitter account that fields service and support questions Monday through Friday, 9:00 AM to five:00 PM Central Time. (You are able to tweet the questions you have to @AskPayPal.)

4. Inner Fence

innerfence-logo

Launched in 2007, Inner Fence (see our review) has got the distinction to be better established than Square. Inner Fence was the very first developer from the mobile processing application and virtual mobile terminal, though the organization doesn’t really process mobile payments. Let me explain.

With Inner Fence, users can setup using their own credit card merchant account and gateway. This selection offers retailers greater stability but has a greater cost tag. The fundamental service, which utilizes Stripe for that payments and gateway, costs $39 monthly, plus 2.9% + $.30 per transaction. You get one free card readers and extra ones are $79.

“Honesty” and “transparency” are also words you generally hear in colaboration with this small but sturdy a merchant account provider. “Value” may not be a thing you’ll hear, but having the ability to link your overall credit card merchant account can offer exceptional account stability and reliability.

Why is Inner Fence Much better than Square?

Square users come with an aggregate credit card merchant account, meaning they share it along with other people that use the service, while Inner Fence users have the benefit of getting their very own dedicated credit card merchant account. As pointed out, this means improved service stability for Inner Face users. Finally, though I’m most likely beginning to seem just like a damaged record, better customer support (provided over the telephone and via email) is yet another edge on Square. The squeaky-clean status Inner Fence is promoting in the last seven years is yet another reassuring method in which Square is different from its predecessor.

5. Spark Pay

Spark-pay-logo

Spark Pay, (see our review) the mobile processing arm of Capital One, has gotten hardly any press since its 2013 re-launch and rebranding (Spark Pay was formerly SAIL, of VeriFone). Nonetheless, it’s a solid, straightforward mobile payment service that may potentially help you save lots of money.

Like Square, Spark Pay offers mobile debit and charge card processing using a free magstripe card readers that connects to your phone’s headphone jack (subsequent readers can cost you $13/readers). By adding a $250 wired payment terminal, you may also accept NFC payments and EMV nick cards.

With regards to features, Spark Pay’s are not as robust as Square’s. However, some helpful functions you’ll get with Spark Pay’s mobile application include online reporting/analytics, inventory reporting, cash drawer connectivity, and customizable electronic receipts, amongst others.

Spark Pay offers retailers two different fee schemes, such as the Go Plan (pay-as-you-go) and also the Pro Plan (fee every month). I would suggest the professional Plan if you’re a greater-volume merchant (processing about $2,000+ monthly). The advantages of the greater-volume plan are that you simply pay less for every transaction – 1.99% + $.05 per swipe for that compensated plan versus. 2.65% + $.05 for that free plan. This can be used handy calculator to find out which plan would be perfect for your company.

Why is Spark Pay much better than Square?

Spark Pay’s Pro Plan can potentially save greater-volume retailers lots of money over Square, considering that your average sale is at least $7 approximately. Even though you choose Spark Pay’s free “Go” plan (no fee every month), the two.65% + $.05 per-transaction fee continues to be less than Square’s for transactions $50 and bigger.

Users of Spark Pay also receive solid customer care, provided over the telephone during business hrs. Coupled with prompt email support (one-day turnaround or fewer) and responsive Twitter support, Spark Pay includes a much better overall support experience than Square, that is crucial because of the greater quantity of SNAFUs that occur with mobile payments when compared with traditional processing.

6. Intuit GoPayment

Intuit GoPayment

Intuit is better noted for its benchmark accounting software QuickBooks, but the Intuit GoPayment (see our review) mobile payment processor is absolutely nothing to shake a stick at either. Additionally to supplying you with the advantages of a bona fide merchant account, GoPayment is a superb mobile POS system for businesses that use and love QuickBooks, because it offers seamless QuickBooks integration.

On the top of QB features, Intuit provides you with advanced functions like invoicing, camera checking to capture card information (although, in a greater processing charge), recurring billing options, and also the ability to process cards from the web browser via an online terminal.

How’s Intuit GoPayment much better than Square?

Unlike Square, Intuit GoPayment gives you your personal dedicated credit card merchant account, that can bring with it the benefits we’ve always discussed. GoPayment’s pay-as-you-go processing rate of 2.4% + $.25 per swipe can also be cheaper for retailers, with the exception of the situation of really small transactions (as well as for a $19.95 monthly charge, you can aquire a reduced rate of just one.6% + $.25). Finally, Intuit GoPayment has more advanced features than Square, including full-fledged QuickBooks integration. Live chat support is another plus.

7. Vend POS

vend-logo

Although it is web-based, Vend (see our review) is really a effective, full-fledged POS system, such which you can use it to exchange a conventional Home windows-based POS system at the brick-and-mortar store. Vend is another viable option to Square should you presently make use of the Square Stand iPad setup. Additionally to running with an iPad, you may also use Vend from the internet browser, and that means you can process payments from any web-connected device, wherever you’re.

Processing charges with Vend depend around the payment processor you utilize for instance, if you are using Vend with PayPal, you’ll obtain a rate of two.7%. Vantiv is another payment processing option. Vend has a monthly fee unless you choose its limited free plan, however the numerous advanced POS top features of Vend make its $59/month fee worthwhile – these functions include advanced inventory management, 24/7 email support, offline mode, eCommerce functionality, loyalty program features, customer management, and much more.

Why would you use Vend over Square?

For really low-volume businesses that process all sales from the smartphone, Square may be the more sensible choice. However, iPad-based Vend is really a viable Square alternative for growing businesses that are looking to upgrade from the casual “mobile POS” like Square. Simultaneously, Vend is a less expensive middle-of-the-road option when compared with a much more advanced iPad POS like Revel Systems or Lightspeed Retail.

Conclusion

As a small company, it’s usually best to have options with regards to mobile payment acceptance. The range of different mobile payment and mobile POS providers implies that it’s not necessary to stick with Square if it is not meeting your requirements sufficiently. The good thing is you do not have to stay with only one mobile payments processor: no companies discussed in the following paragraphs have contracts or early termination charges, so that you can test them out out with no risk, or perhaps use a number of them concurrently to determine what one you want best – just observe that with Intuit GoPayment, you have to jump via a couple small hoops to cancel your bank account (on that within our Intuit GoPayment review).

If you wish to perform a little further comparison shopping before registering for a mobile payment processor, read or comparisons of Spark Pay versus. Intuit GoPayment or Square versus. PayPal Here. Or, compare the merits of using Square versus. a free account.

So what’s your preferred Square alternative? Tell us within the comments!

Shannon Vissers

Shannon is really a freelance author and editor located in North Park, CA. Shannon type of wants an apple iphone 7, but she’s not necessarily prepared to lose the headphone jack.

Shannon Vissers

Shannon Vissers

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How You Can Accept Charge Cards for Girl Scout Cookie Sales

Girl Scout digital cookieThey are exciting times for Girl Scouts and cookie enthusiasts alike. The current launch from the Girl Scout Digital Cookie program enables participating councils and troops to simply accept debit and credit payments for online cookie orders, and also to ship out orders to buyers. This e-commerce experience will prove helpful to scouts, and can unquestionably increase sales, but it’s only area of the card acceptance equation. There’s presently no official service provided by the lady Scouts to simply accept charge card payments personally, but there are a variety of choices to consider.

Two decades ago the thought of handing your charge card to some Girl Scout in return for cookies might have appeared far-fetched. However the payments industry has made great strides recently, and Girl Scouts – innovative, smart entrepreneurs that they’re – are adapting using the occasions. Many shoppers don’t carry money with them any longer, as well as less have a checkbook. Just about everyone has wallets filled with plastic, however that doesn’t mean our appetite for Somoas has decreased. Then when Girl Scout cookie months are here, you want to have a similar payment convenience present in our daily retail lives. Luckily, but for the Women Scouts, it’s never been simpler to simply accept debit and credit card payments.

Table of Contents

Phone-Based Mobile Payments for Girl Scout Cookie Sales

This is the way Girl Scouts are likely to simply accept card payments. With simply a smartphone or perhaps a tablet, you are able to accept payments everywhere which has data service or a web connection. Some providers (like PayPal Here) will need you to make use of a card readers that attaches for your headphone jack (generally this really is free, coming per week approximately) to get the cheapest rates, other services like Flint Mobile make use of your device’s camera to deliver the credit card information and therefore don’t require any extra equipment.

Most mobile processing services don’t charge any monthly charges, so throughout the offseason you will not be billed whatsoever for that service, or will you need to cancel the account.

Invoicing for Girl Scouts

Some mobile-based card processors include invoicing abilities in their standard package, including Square and Flint. With this particular service, you are able to process orders and send emailed invoices rather of accepting payment personally. A great supplement towards the official Girl Scout Digital Cookie program, or instead of it in regions in which the programs hasn’t yet launched. Some Girl Scout chapters appear to possess rules against selling online, invoicing differs. This simply gives customers another payment option. Scouts will get a purchase from the buyer, tally the purchase, after which send a bill, instantly delivered via email. Following the buyer pays at their convenience, an order could be delivered.

To make sure that this practice is recognized from your particular regional rules, it’s best ask the right government bodies before utilizing e-invoice for Girl Scout Cookie Sales.

Researching Providers for Girl Scout Charge Card Payment Acceptance

Should you consume a couple of simple guidelines, locating a reliable and price effective payment processor for the troop’s Girl Scout Cookie sales is straightforward. Here are a few important factors:

  • Charges: Odds are, you will not be selling $100K price of Girl Scout cookies every year, so you have to look for a service without any (or low) monthly charges with no monthly minimums.
  • Contracts: Additionally you won’t being selling the cookies year-round, so it’s important to enroll in a no-commitment service that doesn’t have an extended contract and termination fee.
  • Fair rates: When you won’t have the ability to entitled to the interchange-plus rates a bigger business would insist upon, it doesn’t hurt to complete some price comparisons to make certain the rates you’re getting are fair and using the industry average according to your volume.
  • Reliability/Functionality: Don’t get too distracted by rate shopping, though. The reliability and functionality from the service are far more important factors. Reduced rates don’t mean much when the service isn’t functioning correctly.
  • Mobility: Finally, you will need to look for a service that enables you to definitely process card payments on-the-go, with no costly additional equipment.

Conclusion

Whether you’ll be able to play in the Girl Scout Digital Cookie pilot program launched through the Girl Scouts this season, you need to you should consider accepting charge card payments personally. By helping your troop to pick a charge card processor, you are able to provide youthful scouts with helpful business knowhow that will permit these to approach the instalments industry with full confidence later in existence.

The sources on our website can assist you to lead the troop for an informed decision. Check out our top-rated mobile charge card processors. It’s an excellent beginning place while you consider which payment processing service will best meet your requirements for Girl Scout cookie sales. With only a smartphone along with a free application, you may be accepting payments everywhere within an hour or so.

Happy selling!

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Would you like to Take Charge Card Payments in your Phone: The Best Guide

How to take credit card payments on your phoneShould you can’t accept charge cards for the business, you’re missing out on potential revenue. Many people don’t carry greater than $20 in money with them at any given time, and those that want credit cards have a tendency to spend more money than their funds-transporting counterparts.

However, charge card terminals and merchant services could be a discomfort to cope with, and costly as well. You need to cope with the vetting process and obtain the gear. For many small companies, this method is simply not practical.

Because of companies for example PayPal and Square, nowadays you are able to turn your smartphone or tablet right into a charge card swiper. But which service if you undertake? What must you consider when deciding?

That is why we’re here: that will help you recognize all the intricacies of taking charge card payments together with your smartphone or charge card.

Source: First Data http://www.firstdata.com/en_us/insights/Terminal_Compare_Infographic.html

Source: First Data http://world wide web.firstdata.com/ en_us/insights/Terminal_ Compare_Infographic.html

Charge card swipers are helpful in a number of industries as well as for companies of any size. A friend owns an crafts and arts business and uses PayPal here to simply accept charge card payments when she’s at conventions along with other occasions. There is a pub right by the house that provides its servers charge card swipers instead of getting to cover everything in the bar. And there isn’t any lack of restaurants within the college town my home which use Square along with other POS systems having a mobile integration to allow them to swipe your card around the place instead of taking charge cards over the telephone when ordering delivery.

Would you operate in one of these simple fields? It may be time for you to consider obtaining a card swiper:

Crafts and arts vendors: Would you sell your wares at conventions, art shows, along with other big occasions? You may be a magazine reseller, a painter, a jewellery maker, a clothing store, or perhaps a makeup seller.

Food Service: Food trucks were one of the earliest adopters of mobile card swipers, but there’s an abundance of restaurants which are with them now. PayPal Here and Square both offer POS systems additionally for their mobile card readers, which is ideal for delivery services.

Providers: If it’s not necessary a brick-and-mortar office or base of operation where customers visit you, or maybe you conduct your business in your customers’ homes (carpet cleaning, plumbers, lawn care, mobile dog groomers, exterminators, etc.), a charge card swiper provides you with versatility in addition to credibility, in addition to added security.

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Comprehending the Costs of Accepting Charge Card Payments

Within the traditional business design, to simply accept charge card payments you would need to generate a credit card merchant account. A free account typically entails an in depth review your credit rating and business. For any business that’s just making its ft, this may not be the best choice.

Establishing charge card payments having a service like Square or PayPal Here far less complicated, and almost anybody can perform it. There’s a trade-off with this convenience, however.

Charge card companies assess a little fee to retailers for processing payments. With merchant services and card swipers, the price is made in and deducted instantly, which means you don’t need to bother about having to pay yourself to it. With a free account, you normally get lower rates (one to two percent) due to the decreased risk. Most card swipers charge 3 % or even more (but much more about that later).

It isn’t only the standard charges you need to be worried about when you wish to simply accept charge card payments. You will find costs hidden everywhere, so let’s address a few of these issues:

Internet Availability

Typically, smartphone and tablet card swipers need some kind of Internet connectivity, using a cellular signal or Wi-Fi. I’ve labored enough vendor rooms to state that this is often a problem. Wi-Fi systems at hotels, convention centers, along with other venues could be slow or hard to rely on, especially if you have many people in it. Cell signal during these places can also be hit-or-miss, and also the best carriers vary by region.

Most smartphones nowadays can handle becoming Wi-Fi hotspots, so that you can make your own Wi-Fi. However, this method depends on your phone’s data plan. The greater transactions you are making, the greater data you utilize.

Compatibility

You should also make certain that the products are suitable for the credit card readers. PayPal Here and Square don’t support Home windows Phones, for instance. I finally upgraded from my Home windows Phones for an Android device so it’s stopped to matter for me personally, but it isn’t just Home windows you need to be worried about. There are specific tablets and smartphones running both android and ios that can’t be utilized using these card readers, meaning you’re going to need to change your device — something which can cost you between $500 and $1,000 when you get a brand new flagship device.

It’s not necessary to go down that path, though. I’ve used a classic hands-me-lower mobile phone that labored on Wi-Fi simply to take payments. The thing is, look into the listing of compatible devices prior to committing to 1 service over another.

Also observe that you’re likely to will often have to allow location services in your phone.

Card Compatibility, Manual Entry Charges, Location

My pal, the main one together with her own small business, has two card swipers. The two works 100 % of times (and oddly enough, each appears to operate best having a specific device), therefore we have experienced to type in greater than a couple of card figures.

You’re typically likely to pay more for by hand entering charge card figures due to the and the higher chances — the credit card does not have to physically show up to accomplish the transaction.

Likewise, you’re usually likely to pay more for accepting worldwide cards, and you aren’t going so that you can accept payments outdoors the U.S.

Taxes and Tips

Unless of course you reside within the five U.S. claims that don’t charge florida sales tax, you are more often than not responsible for having to pay florida sales tax for the business, that is usually between 6 and 10 %. Some states also assess local sales taxes on the top from the base rates. Between your charge card charges and florida sales tax, that’s between 7 and 13 % of the revenue from one purchase gone.

Several mobile charge card swipers enables you to add florida sales tax towards the base purchase without requiring you to definitely calculate it, that is handy if you are not keen on math or simply want the transaction to visit more rapidly.

As a substitute, you are able to build the florida sales tax in to the listed prices, which a number of your clients might appreciate.

Finally, based on your industry, you might want to make sure that the charge card swiper you utilize enables your clients to include some advice.

Time to obtain your Money

The ultimate cost to think about for charge card swipers is much more of the convenience fee than anything — it’s time before you access your hard earned money. PayPal Here makes your available funds very quickly for those who have a PayPal bank card, while some may require two full working days before depositing funds inside your account. On the top of this, each service have a slightly different insurance policy for limits and holds. Should you exceed a particular threshold for any single transaction, or total transactions for any certain period (typically seven days), you might find that the service will place a hang on your bank account, that could slow lower payment up to thirty days. Due to the greater risk, services like PayPal and Square tend to be suspicious, despite the fact that you’re managing a perfectly legitimate business.

If you are inside a high-risk industry or have a superior amount of business, you’re most likely best acquiring a free account and taking advantage of certainly one of their mobile solutions.

You’re also likely to want to bother with refunds and chargebacks. For instance, if, for reasons uknown, someone complains to their charge card company and there is a chargeback, PayPal will assess a charge on the top of whatever cash is instantly deducted from your bank account for that chargeback, and PayPal seller protections aren’t readily available for PayPal Here transactions. Square, however, doesn’t assess a chargeback fee, however it may withhold the sum chargeback of your stuff, and frequently the procedure could be a extended one — two months or even more.

Features to consider inside your Mobile Charge Card Readers

Features-wise, you can at any rate expect the fundamentals to stay consistent across smartphone charge card swipers: you are able to swipe cards, by hand key them in, and issue receipts. It’s the small stuff that may ultimately set one company in addition to the rest. A few of the things you might want to consider include:

Record-Keeping for money and Checks

Sure, you can handle your money intake that old fashioned way and allow your bank cope with checks. However, many charge card swipers, for example Flint (which doesn’t really need you to swipe cards, but more about that later) enables you to create digital receipts for money and appearance transactions too.

Important to note: PayPal initially had the opportunity to handle mobile check deposits, but later dropped it, claiming that buyers have discovered “other methods to pay.” While it is true that checks are decreasing, you may still find lots of people using them. A friend, who sells Mary Kay, still deals largely with checks instead of charge cards.

POS Integration

Based on your requirements, you might like to locate a service which has easy POS integration. Square and PayPal both their very own POS systems that complement their mobile solutions. This really is ideal for those who have, say, a mobile food truck in addition to a physical restaurant.

E-Commerce Integration

Likewise, search for easy integration by having an online shop, for those who have one. With sites like Shopify and BigCommerce, you are able to typically integrate with PayPal, which is fantastic for centralizing your accounts. However, this could get tricky based on in which you sell. Amazon . com, for instance, doesn’t accept PayPal payments, and eBay heavily favors PayPal because, well, it owns PayPal. Square really provides you with a choice of building your personal e-commerce store having its own service.

Accounting Integration & More

Would you make use of an accounting service like QuickBooks? If that’s the case, you may prefer the opportunity to transfer your computer data from your card swiping plan to your accounting software. Flint and Square both offer this ability.

Invoicing

Should you choose custom orders, offer services, or provide goods to some business, you’re very acquainted with invoices. With a few services, including PayPal, you will get invoices through them and send these to clients via email. The greatest benefit to this is just that you will get your hard earned money faster because there’s you don’t need to cut a cheque and send it through email.

Voids and Refunds

It’s unfortunate, but you will desire to make accommodations to process refunds and void transactions. Sometimes your finger slips on the key and also you don’t notice until afterward, and often the client just changes their mind. Make certain to know using these functions in whichever service you select.

Card Readers Design

Possibly probably the most ingenious options that come with the PayPal Here readers is its two-part design that enables you to definitely switch a triangular lower and stabilize the readers.

Regrettably, which include depends upon the headphone jack being on the left side from the phone. On my small Universe S5, guess in which the headphone jack is?

Around the right.

Pointless to state there’s greater than a little bit of clumsiness attempting to balance a telephone having a 5.1-inch screen inside your hands whilst stabilizing the credit card readers while swiping the credit card. Particularly when you’re dealing with limited table space. It’s worth searching in the card readers and also the device it’s mounted on and ensuring the look matches your needs.

Permissions for Multiple Users

Would you have several employees? A buddy who helps out when you are working occasions? The opportunity to give permissions to multiple users is useful here. By using it, you are able to enable employees (or perhaps your buddies) to simply accept payments without providing them with full access for your requirements. This really is great if you have multiple booths at occasions, or you send multiple employees on location and every you need so that you can accept payments.

The Main Players

Since we’ve reviewed what you ought to know before you begin even searching at taking charge card payments together with your phone, let’s take a look at a few of the greatest names in the industry and also the pros and cons to every.

paypal-here-logo

PayPal is considered to be a huge in e-commerce. It launched its card swiper service this year. Right from the start, the PayPal Here readers is totally free whenever you order it in the website. To keep your a card readers at Staples or Office Depot, and PayPal will compensate the cost directly with the application, that is readily available for android and ios.

Beyond that, PayPal and PayPal Here offer:

  • Online Invoicing
  • Send digital receipts or print receipts
  • Custom reporting on sales figures (exportable to .CSV file)
  • Cash and appearance payment recording
  • Multiple user permissions

Important to note is always that PayPal offers both its very own POS system for iPads as well as an e-commerce integration for websites. Plus, PayPal may be the preferred approach to payment on eBay (in the end, eBay owns PayPal). PayPal also offers partners offering additional services, which makes it well suited for retail, restaurant, along with other service environments.

Based on PayPal’s site, it’s ready to eat for that October 2015 switch EMV (cards with special chips baked into them for further security), and promises that PayPal Here users can accept EMV cards in addition to touch-enabled cards and NFC payments.

Swipe Rates:

PayPal Here minute rates are just 2.7% per swipe. Keyed in transactions are 3.five percent plus $.15. Add yet another 1 % for worldwide cards. With PayPal, your hard earned money can be obtained to invest practically immediately. If you possess the PayPal business bank card, the different options are it anywhere, not only online.

Square-POS-Logo

Square really was the very first player to create taking charge card payments on the smartphone possible, launching in ’09. Square’s readers can also be free whenever you join the application, or perhaps your can buy one at Target, Walgreens, Best To Buy, Apple Stores, and a number of areas. The Square application can also be suitable for android and ios.

Square also provides features for example:

  • Online invoicing
  • Send digital receipts or print receipts
  • Custom reporting on sales figures (exportable to .CSV file)
  • Record cash and appearance payments
  • Multiple user permissions

Square also provides its very own POS system, Square Register, plus an e-commerce store solution. The Square readers also offers an offline mode, which enables you to definitely accept payments when no internet signal can be obtained. Better still, there isn’t any added cost for offline swipes.

Square also offers announced its EMV-compatible readers, which you’ll pre-order for $29 here.

Swipe Rates: 

Square’s minute rates are 2.75 % per swipe. Manual transactions are 3.five percent plus $.015 per transaction. Square takes 1-2 working days to deposit funds with respect to the time the deposit is initiated.

Flint-mobile-logo

Flint’s mobile charge card payment solution doesn’t depend on extra hardware. Rather, it uses the smartphone’s camera to scan charge cards. The application doesn’t really have a photo record from the card and things are encrypted for security.

  • Record cash and appearance payments
  • Coupon generation (with Passbook compatibility)
  • Multiple user permissions
  • Send e-receipts
  • Custom reporting (downloadable to CSV or text files)
  • QuickBooks integration

Flint doesn’t have a POS system, however it comes with an integration to simply accept payments in your website along with a custom invoicing feature.

So far as EMV goes: transactions using Flint are processed as “card not present,” so EMV is basically irrelevant.

Scan Rates: 

Flint’s minute rates are less than Square’s or PayPal Here, for a price of just one.95 % per transaction for an atm card (scanned or keyed in), and a pair of.95 % for charge cards (scanned or keyed in). Deposits from Flint take 1-a couple of days to process.

LevelUp-logo

LevelUp is yet another less-conventional option to PayPal Here or Square. Rather of card readers, it uses QR codes. This specific option mandates that both retailers and consumers possess the application placed on their phones.

With LevelUp, you receive the next features:

  • Custom reporting
  • Discounts, coupons, and loyalty programs
  • Send digital receipts

You will find less features with LevelUp, but it’s unique for the reason that unlike other available choices, additionally, it works together with Home windows Phones. Additionally, it has support for NFC and iBeacons. You may also select from 50+ integrations along with other companies services.

LevelUp includes a zero-chargeback insurance policy for merchant.

There isn’t any e-commerce support, but LevelUp does offer bar code scanners for retail locations. In addition, there’s a tablet POS option.

Scan Rates:

Rate processing for LevelUp is really a flat 1.95 %, with next-day deposits.

Spark-pay-logo

SparkPay is Capital One’s mobile card readers solution. It provides most of the same features as other mobile card readers, however in this situation, it provides both a totally free option along with a compensated monthly service. Using the monthly service plan, you receive lower swipe rates, so if you possess the greater volume to warrant the main difference on price, you are able to really save a little bit of money.

Features include:

  • Mobile couponing
  • Custom reports
  • Send digital receipts and print receipts.
  • Multiple user permissions

SparkPay hasn’t yet announced its EMV solution — however it promises it will likely be offering compatible card readers.

Swipe Rates: 

For that free plan, the minute rates are 2.7 % per swipe (2.95 % for American Express) and three.7 % for keyed-in transactions.

For that compensated plan ($9.95 monthly), the rates drop to at least one.95 % (still 2.95 % for American Express), and a pair of.95 % for keyed-in transactions.

Funds is going to be available within 2 working days.

payanywhere-logo

PayAnywhere is Wells Fargo’s card swiping service. Additionally for you to get your readers free of PayAnywhere, you will get them in select stores. If you purchase a readers, you need to do get a $10 credit deposited inside your account following the swipe.

Features include:

  • Print receipts and send e-receipts
  • Automatic florida sales tax calculation according to where you are
  • In-application and web reporting
  • Inventory control
  • Support for multiple users
  • PayPal support

PayAnywhere also offers a store solution that provides a free tablet — as lengthy while you process more than $5,000 monthly. Otherwise, it’s a $79 monthly should you fall under that quantity in sales.

Swipe Rates:

The swipe rates for that mobile solution are 2.69 percent (including American Express). For that Storefront solution, that rate drops lower to at least one.69 percent (including American Express) along with a $12.95 monthly service charge. Money is deposited within one working day.

innerfence-logo

Inner Fence falls somewhere in the center of the spectrum so far as charge card payments go. It isn’t strictly a mobile charge card payment provider although not fully a free account provider, either. Inner Fence can also be interesting for the reason that it supports iOS, Android, Home windows, and Mac — you will find, which includes Home windows Phones.

Features include:

  • Florida sales tax calculator
  • Print receipts or send e-receipts
  • Web reporting
  • Multiple user permissions

Yes, Inner Fence functions as a full-scale POS when combined with a Home windows or Mac computer.

Swipe Rates:

So far as prices goes, Inner Fence is quite pricey at $39 monthly plus 2.9 % plus $.30 per swiped transaction. Money is transferred on the moving 2-day basis.

Final Ideas

Accepting charge card payments doesn’t need to be a terrifying prospect, even when you’re running only a small-time business. You can aquire a mobile charge card swiper free of charge oftentimes, even though you will not spend the money for lower charges connected with traditional merchant services, the expense continue to be readily manageable. What you ought to consider would be the hidden costs — not always within the providers, but those that originate from utilizing a data connection, or requiring Wi-Fi. How quickly you receive your hard earned money ought to be a high priority.

Got questions about how to consider charge card payments in your phone? Need to know more on how to accept mobile charge card payments? Tell us!

Melissa Johnson

Melissa Manley is definitely an independent author and editor who loves e-commerce, internet marketing, technology, and social networking. Not so long ago, she earned a journalism degree, but she continued to uncover that they could work at home, researching, editing, and covering the items she found most fascinating. When she’s not associated with her laptop, Melissa usually can be based in the kitchen, studying a magazine, or doing something from the nerdy persuasion.

Melissa Johnson

“”

The Real Price of Bank Card Transactions

debit card merchant feesMobile payments are rising, and also the mobile wallet concept is gaining steam. But until such time because the mobile wallet really replaces cash and cards, retailers and retailers still need to bother about having the ability to accept these types of payment.

We’ve spoken a great deal about the best way to accept charge cards for the business, but we haven’t spoken greatly concerning the other type of card: debit.

A Fed study on the Diary of Consumer Payment Choice discovered that cash comprises the biggest share of consumer transaction activity (40 %), adopted by bank card transactions (25 %), after which charge card transactions at 17 %.

The recognition of various payment methods — cash, debit, credit, check — varies based on generation and earnings level, factors that any merchant needs to understand. For instance, households making under $25,000 annually, in addition to Millennials, have a tendency to favor cash over other kinds of payment. Seniors have a tendency to favor charge cards and checks, while hardly anybody younger than 35 prefers checks.

Exactly the same research also highlights that overall an atm card would be the preferred approach to payment, with cash as being a popular backup option. People have a tendency to use their an atm card exactly the same way they are doing cash — to deal with daily expenses.

That’s important, because retailers need to comprehend that debit and credit cards aren’t interchangeable using their perspectives. Debit and credit transactions assess different charges, even though you might have a great rate on credit transactions, you may be over-having to pay for debit transactions.

Table of Contents

Exactly What Does It Cost to Process Debit Transactions, Anyway?

Debit transactions withdraw money from a bank account or any other prepaid account. But unlike ACH transactions (think direct deposit, Dwolla or e-checks), the cash doesn’t transfer in one account straight to another. Rather, it’s handled through the issuing card network, which makes it susceptible to charges.

Bank card merchant charges vary based on two major factors:

  1. The credit card network and size the issuing bank: Organizations over a certain size are susceptible to caps around the charges they are able to assess for transactions (known as the interchange fee many credit card merchant account providers offer what’s known as an interchange-plus prices model).
  2. Whether it’s a signature or PIN debit transaction: The typical ticket size makes a person option less expensive compared to other.

Comprehending the Interchange-Plus Model

Card payment processing could be complex. Typically, transactions can fall under greater than 100 different groups that every assessed different rates. To simplify this, many credit card merchant account providers began lumping transactions into different “tiers” to create billing simpler. Regrettably, it isn’t a very transparent model. Retailers frequently find yourself having to pay greater than they ought to.

Processing an atm card within this model is much more difficult since the debit processing charges are usually just like charge cards, that is greater than you, like a merchant, have to pay.

Interchange-plus emerged instead of tiered prices. To process a transaction, you have to pay just the interchange fee as well as the credit card merchant account provider’s markup (it might be a set amount or perhaps a percentage). Consequently, the charge structure is a lot more transparent.

The Durbin Amendment, a federal act passed this year, also places a cap around the interchange fee banks using more than $10 billion in assets may charge for debit transactions, that has been a benefit for retailers too.

All the highly regarded credit card merchant account providers on Merchant Maverick make use of the interchange-plus model.

Signature versus. PIN Debit Transactions

Debit transactions could be processed in 1 of 2 ways: like a signature debit, or perhaps a PIN debit.

A signature debit transaction necessitates the cardholder to sign the receipt rather of inputting a PIN. Since it doesn’t make use of the debit network whatsoever, it is also known as an offline debit transaction. It doesn’t verify the money is within the account during the time of the transaction.

A PIN debit transaction uses the network to check on if the account has got the necessary funds accessible instantly, and that’s why it’s also referred to as a web-based debit transaction.

The charges assessed differ according which method you utilize. In most cases, for those who have low-value transactions, you have to pay less to make use of signature debits. Should you deal frequently in high-value transactions, it’s less expensive to work with PIN debits.

Read this handy calculator, which let you know which kind of debit helps you save as much as possible.

Debit Rates for Mobile Processing

Accepting card payments on the smartphone or tablet is vital for a lot of retailers and repair providers. It offers a superior the versatility to consider your company on the run, regardless of whether you send service technicians to clients’ homes, manage a mobile food truck or delivery service, or setup stands to market your goods.

Regrettably, most mobile payment processors, for example Square and PayPal Here, treat debit and credit transactions exactly the same way and provide you with a set rate for.

The exception for this rule is Flint, the only our reviewed mobile processors to provide a low predetermined fee for debit with no fee every month.

Flint-mobile-logoUnlike most payment options, which need you to either swipe the credit card on the magnetic strip readers or key the figures in, Flint uses your phone or tablet’s camera to scan the figures around the card. It doesn’t keep data in your device whatsoever, which makes it a safe and secure option.

Flint provides a 1.95% rate for an atm card, and a pair of.95% for charge cards. Compare that to two.7% for PayPal Here or 2.75% for Square. That’s as much as .80% saved per debit transaction, and just about .2% more for credit. Because we realize that debit is, generally, as broadly (or even more broadly) used than credit, the saving accumulate, especially as the volume increases.

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Some credit card merchant account providers by having an interchange-plus prices structure may also provide a mobile processing option with reduced rates for debit. We love to Payline Data, with a great solution for low-volume mobile transactions.

Final Ideas

Because most consumers favor debit over credit, you will cannot overlook the significance of acquiring a good rate for the debit transactions. You will find workable solutions regardless of whether you depend around the traditional credit card merchant account, mobile processing, or some combination backward and forward. You should also understand which approach to processing debit — signature or PIN — could save you as much as possible. If you are processing having a service like Square Register, or you possess a tiered prices model with “qualified” and “unqualified” rates, you’re most likely overpaying for the bank card transaction. Take a look at a lot of our favorite providers to reduce your debit transactions, or give Flint a go should you prefer a low-volume mobile solution having a fair debit rate.

Melissa Johnson

Melissa Manley is definitely an independent author and editor who loves e-commerce, internet marketing, technology, and social networking. Not so long ago, she earned a journalism degree, but she continued to uncover that they could work at home, researching, editing, and covering the items she found most fascinating. When she’s not associated with her laptop, Melissa usually can be based in the kitchen, studying a magazine, or doing something from the nerdy persuasion.

Melissa Johnson

“”

Searching in the Sell On Etsy Mobile Payments Application

I spend considerable time at conventions and humanities-and-craft fairs, helping a buddy sell her merchandise. It’s a great chance to satisfy other vendors and talk shop, which isn’t only a great resource of suggestions for new merchandise, but additionally a great way to compare notes regarding how to run a business.

That’s just how I discovered about Etsy’s branded card swiper. Among the vendors in an event had one of these simple vibrant orange special gems. I was intrigued, therefore i put down for more information.

What’s Etsy?

Etsy is definitely an online marketplace focusing on vintage products, homemade goods (costumes, jewellery, clothing, interior decor) and crafts and arts. It was once solely for hand crafted goods and craft supplies, consider 2013, Etsy has permitted mass-created goods, that has upset some sellers because they’re now rivaling cheaply manufactured mass created goods. Management claims it is not the situation, however, many sellers were — and still are — unhappy with how occasions performed out.

Nevertheless, Etsy hosts greater than 1.4 million sellers and almost 20 million active users, with revenues just shy of $200 million.

Among the big advantages of selling on Etsy is having the ability to setup your personal shop having a URL around the Etsy domain. It’s a great deal simpler than building your personal store online, particularly if you aren’t particularly tech-savvy, and also the Etsy name gives you some credibility. (That stated, Etsy may also suspend or close your shop without any warning whether it thinks you’ve violated its policies, and there is not much that you can do about this. This will help remind you of complaints against Square.)

An additional advantage to selling on Etsy, if that’s your niche, may be the listing charges: just $.20 per listing and three.5% per transaction. That’s much better than eBay, that charges 10% from the final value, or perhaps Amazon . com, which charges even greater charges than that in line with the product type you sell. Amazon . com also doesn’t presently possess a craft or niche marketplace, though we all know that it is a minimum of thinking about a Hand crafted at Amazon . com platform.

In comparison, let’s say you sell by yourself site, your charges is determined by which payment method. PayPal Here charges 2.9% plus $.30 cents. On other platforms, for example BigCommerce and Shopify, vary based on which plan you select. You might only pay a regular monthly fee (between $14 and $80 monthly, or even more), or else you may pay a regular monthly fee along with a transaction fee, which may be as low as 1.5% or around 2.9%.

The Way The Card Readers Works

Based on Etsy, in regards to a third of their sellers don’t just sell online — like me and my pal, they attend conventions, craft fairs, along with other occasions as vendors. Prior to the Etsy readers, that meant these sellers needed to depend on Flint, Square or PayPal Here to simply accept charge card payments, or work on a money-only basis.

Etsy’s readers works exactly the same way as other mobile card readers: open the application with an Android or iOS device, plug the readers in to the headphone jack, and go into the necessary info. It’s all pretty straightforward.

The credit card reader is directly built-into your Etsy store. Rather of just punching in the quantity of a purchase, you are able to select something that has already been indexed by your store, and Etsy will instantly update the inventory. You may also just enter a sum if what exactly the same thing isn’t listed online.

All the sales created using the credit card readers count toward your Etsy sales. Customers who buy personally may also make you reviews for the Etsy store.

But the good thing may be the rates: Card swipe charges are simply 2.75% per swipe — that’s exactly the same cost as Square. (PayPal is 2.7%, for that record Flint is 1.95% for debit or 2.95% for credit.) Manual records using the Etsy readers are simply 3% plus $.25, when compared with 3.5% + $.15 for Square and PayPal manual records. The normal Etsy transaction fee, 3.5%, doesn’t affect goods offered personally, which means you cut costs.

Obviously there are lots of features provided by other apps the Etsy application doesn’t have, for example invoicing, coupons, discounts, QuickBooks integration, etc. However for someone already using Etsy or searching for any simple all-in-one solution for selling hand crafted products, it’s virtually unbeatable.

There doesn’t seem to be any kind of needs to get qualified for any readers, for example getting a collection quantity of sales. The application itself, known as Sell on Etsy, is free of charge to download from Google Play and also the iTunes Store.

The reviews on the internet Play are promising: a 4. across greater than 2,300 ratings. The iTunes comments are less glowing. The newest version does not have enough reviews to show a rating, however with all versions combined, it features a 2-star rating from 790 reviews. Many users complain of glitches and crashing within the newest form of the application, but Etsy has had time to reply to a number of these complaints.

The money out of your in-person sales are put into your Shop Payment account and it is transferred to your money every Monday (unless of course you request payment sooner). In PayPal, your money is available quickly, as well as in Square they sometimes take 1-2 working days for that transfer to undergo.

Also, Etsy’s readers is presently only accessible within the U.S., though Etsy claims it intends to expand the service.

If You Work With the Etsy Card Readers?

Etsy is offering competitive rates on its card readers, which is ideal for sellers. The truth that it waives its online transaction fee is unquestionably a motivation, much like the rest of the features you’ll get in the Etsy branded readers. I love that there’s a listing integration, especially, since keeping inventory could be a discomfort.

That stated, Etsy isn’t a industry for everybody. Despite the onslaught of mass-created merchandise, it’s still largely referred to as the site to visit for hand crafted goods and crafts and arts, so you have to be sure your goods match that image. Etsy also provides extensive risks, and also you don’t always have lots of control of what goes on for your store. That’s a large problem if this sounds like your sole or primary supply of earnings.

The Etsy branded readers is actually only an attractive option should you already sell on the website and therefore are pleased with your merchandise. For those who have intends to open your personal store beneath your own domain (and you ought to, especially if you wish to scale your business!), you’re most likely best choosing another mobile card swiper. You are able to compare our top-reviewed services here. Or check out some tools to construct your personal simple selling website here.

And even if you’re pleased with Etsy, make sure to support your data, from product photos to descriptions, prices, and purchasers figures, somewhere secure.

If you are a new comer to accepting charge card payments on the mobile phone, take a look at our comprehensive guide. If you’re thinking about creating a web-based shop on Etsy or any other platform, we encourage you to check out our shopping cart software reviews and compare services.

That stated, this Etsy-branded card readers could alter the game for online sellers who should also sell personally. Can we see more branded readers later on? Maybe. It’s certainly worth keeping watch.

Melissa Johnson

Melissa Manley is definitely an independent author and editor who loves e-commerce, internet marketing, technology, and social networking. Not so long ago, she earned a journalism degree, but she continued to uncover that they could work at home, researching, editing, and covering the items she found most fascinating. When she’s not associated with her laptop, Melissa usually can be based in the kitchen, studying a magazine, or doing something from the nerdy persuasion.

Melissa Johnson

“”