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If you happen to own an iphone or other compatible Internet ready smartphones, chances are that you can have the power of online credit card payment services through your mobile phone. This option is especially useful if you travel often and need to sell products at tradeshows, conferences and exhibitions. You can follow a few simple steps to enable this processing technology on your mobile phone:
Ensure That Your Phone is Compatible
Not all mobile phones are capable of processing online credit card payments. There are many applications available for the Apple iphone and the ipod Touch that can allow these devices to conduct credit card transactions over mobile networks or Wi-Fi Internet. As the technology evolves, applications are being launched for other phones that are capable of connecting to the Internet.
Research your Options
You should be aware that credit card processing services available for your mobile phone are dependent on whether your ecommerce merchant services provider supports such a service. Most services providers offer their proprietary software interface through which you can conduct credit card transactions using your mobile phone. You will most likely be required to sign up for a new merchant account with one of these service providers before you can start processing credit cards using your phone. Prices for ecommerce merchant services and the per transaction fee can vary widely, so make sure that you research your options thoroughly before you commit to a specific provider.
Download the Appropriate Software For your Phone & Service
The service provider that you end up choosing will require that you install a specific software application on your phone before you can process credit cards through your phone. In case of the iphone or ipod Touch, you can find most popular credit card payment applications on the online store. You can simply go the App Store, make the required payment, download the application and install it. Some applications now have the ability to integrate with multiple gateways, so you may need to configure the software to the settings as per the instructions of your specific payment processing service provider.
Receipts & Reports
Most phone based credit card processing applications are set up to record all payments processed through your phone either on your phone or on the payment processors server, or both. If you need to offer receipts to customers, most applications will allow for electronic receipts to be generated and sent via email to customers that have made the payment on your phone terminal. In most applications, you can export the data from either your payment processor’s server or from your phone to most common accounting software packages to help reconcile your transactions.
Voiding Transactions & Handling Refunds
Most applications allowing phone based credit card processing are fully capable of most services that a traditional credit card terminal can provide, so voiding transactions and reversing completed transaction processes follow a similar workflow to the traditional credit card terminal’s workflow.
Security Aspects
The phone based software allows your phone to become a virtual credit card processing terminal similar to traditional POS terminals. All transactions conducted through this system are handled over secure networks and encrypted while being transported to maintain data integrity.
