How Accepting Mobile Payments Improves the Payment Experience

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Organizations that accept mobile payments deliver effortless customer experiences. If your customers are on the go, you can leverage the flexibility of mobile payments to create trust, increase customer loyalty and boost overall satisfaction.
 

What Are Mobile Credit Card Payments?

Mobile credit card payments are transactions between customers and businesses in exchange for goods and services. The payment is completed outside of a retail environment in these transactions, often on a website or app.
 

What Do You Need to Do to Accept Mobile Credit Card Payments?

To accept credit card payments on a phone, you need a mobile device, a payment processor and a credit card reader. For mobile card payments to work, you need one each of the following:

  • Mobile device: The card readers and software that enable mobile credit card payments require a mobile device to work. A smartphone or tablet can serve as your mobile device. Mobile devices can drain quickly from constant transactions, so it’s always best practice to keep your devices fully charged and ready for effortless payments.
  • Payment processor: Regardless of how you accept credit card payments, you’ll need a merchant account and payment processing provider. You will need a processor for payments, whether transactions are made on mobile devices, over-the-phone, in-person or online. Your payment service provider may offer a credit card reader and point-of-sale (POS) solution.
  • Card reader: This is the key component of your process. These devices are designed with security and mobility top of mind. Modern card readers read all methods of digital wallet payments: tap, dip and swipe. Sometimes, it will make sense to get new hardware to streamline customer payments, instead of trying to move bulky devices everywhere. That’s why some card readers can be used at either a set location or on the go.

Primary Types of Card Readers

Three types of card readers are common. With technological advances, most card readers today include the functionality of all three:

  • Card swipers: A credit card swiper leverages the magnetic stripe on credit cards to process payments. Card swipers are the original way consumers use credit cards to pay businesses.
  • Near-field communication (NFC) readers: NFC readers offer tap-to-pay options. The technology enables two nearby devices to communicate wirelessly. NFC readers are also compatible with digital wallets. NFC data is dynamically encrypted, changing with each transaction. The changing data makes NFC or contactless payments safer. Customers must typically enter a PIN to approve some types of transactions.
  • Europay, MasterCard and Visa (EMV) card readers: EMV readers utilize smart chip technology to deliver secure, encrypted payments without the fraud risk traditional card swipers pose. Some chips on credit cards are NFC-enabled. Others require consumers to input their cards into a device (dip) to transmit payment information securely.

 

How Do Mobile Card Readers Work?

Mobile card readers enable your business to take payments via phone, giving your customers the convenience of paying anywhere and at any time. Here’s how they work:

  • The mobile credit card reader device connects with your smartphone.
  • You typically download a payment processing app to use the card reader.
  • The reader enables magstripe swiping, NFC and EMV payments.

Note that mobile credit card readers have applicable processing fees, like a fee per transaction or a flat rate.
 

The Benefits of Accepting Credit Card Payments With Phones

Accepting credit card payments via mobile can help simplify transactions, increase efficiency and optimize your sales process. Other critical benefits include:

  • Minimizing expenses: A mobile payment system offers your organization convenient ways to process payments. You won’t need bulky payment infrastructure. Instead, you only need a smartphone, a service provider and a mobile device, significantly reducing your expenses.
  • Boosting sales: Accepting credit card payments with your phone enables you to offer a frictionless payment experience for customers. Customers appreciate the ability to pay with credit cards. A seamless payment experience will build loyalty, encourage repeat purchases and attract new customers, resulting in increased sales.
  • Enhancing security: Mobile payments deliver the best security features. Developers constantly implement new fraud prevention interventions to help your organization stay on top of security. The risk of data breach and fraud is minimized compared to outdated payment methods, helping your business enhance the safety of your customers.
  • Streamlining integration: Integrating mobile credit card payments with your existing methods is seamless. You can easily leverage an existing mobile device and partner with a payment service provider that offers simplified solutions. No complex installations or massive upfront investments are necessary.

 

Accept Card Payments on the Phone With CSG Forte

Your organization can take credit card payments on your phone with CSG Forte. CSG Forte helps your business accept contactless payments with innovative, easy-to-implement POS payment solutions. We provide:

  • Seamless shopping experiences: Consumers expect to pay quickly and securely using the method they prefer. By focusing on what your customers want, you can build loyalty and enhance shopping experiences.
  • Improved POS encounters: Wow customers with state-of-the-art POS terminals that offer advanced security capabilities and the ability to accept various payment types.
  • Reduced data risks: Reduce data risks with Payment Card Industry (PCI) or PCI-validated encryption solutions. This encryption removes vulnerable cardholder data that hackers like to target. CSG Forte is one of the few solution providers delivering PCI-certified Point-to-Point Encryption (P2PE).
  • Flexible payment solutions: Go beyond in-store payment limitations and accept payments where your customers are. CSG’s mobile solution instantly transforms your mobile phone or tablet into a processing terminal. Give consumers rapid, frictionless and safe payment options anywhere and anytime.
  • An optimized, all-in-one platform: Use a single, easy-to-navigate interface to handle your payments. CSG’s platform delivers 100% real-time reporting, giving you the power to make data-driven decisions. Streamline your payments and give your customers the ultimate gift of choosing how they want to transact with your business.

 

Frequently Asked Questions

Have more questions about mobile credit card payments? Here are some answers.

Is Mobile Credit Card Processing Safe?

Mobile credit card payments with your smartphone are safe when you employ solutions that encrypt all customer payment data. You can make payments secure for your customers by partnering with a trusted expert to help encrypt your data, monitor your security processes and follow the latest guidelines for PCI compliance.

What Are the Pros and Cons of Mobile Credit Card Payments?

Mobile credit card payments have many pros:

  • You can accept payments without bulky infrastructure or expensive-to-implement equipment.
  • You can boost sales by offering customers a cashless alternative, allowing them to pay how they prefer.
  • Mobile credit card payments enable you to safely accept payments without carrying large amounts of cash.
  • Keeping records and analyzing trends are easier with mobile payments versus traditional transactions.
  • Setup is easy when you choose a partner like CSG Forte.
  • Your business can accept payments at any place and time without hassle.

Cons associated with conventional mobile payment methods include security concerns, limited capability and a rapid drain on battery life. CSG Forte’s mobile payment solution is encrypted, secure and efficient and has expanded capabilities, surpassing the solutions some providers offer.

What Are Examples of Businesses That Accept Mobile Payments?

Organizations across various industries leverage mobile credit card payment solutions. Companies and entities of different sizes also use this payment method. Enterprise field agents, brokers and service operators utilize mobile credit card payments to accept payments conveniently and instantly.

Some examples of smaller businesses that use this technology include:

  • Contractors, plumbers and electricians
  • Restaurants, coffee shops and food trucks
  • In-home service providers, such as hair stylists, cleaners and beauty therapists
  • Artists and artisans at festivals and fairs
  • Other businesses participating in trade shows or other out-of-store events
  • Dog walkers and pet sitters

 

Accept Mobile Payments and Enhance Customer Experiences

Maximize your sales, improve customer experiences and take mobile payments to the next level by partnering with CSG Forte. CSG Forte is an award-winning fintech solutions provider. For over two decades, we’ve been helping thousands of organizations of varying sizes accept payments faster and scale their business.

Our platform is easy to integrate, use and adapt to your evolving needs. At the same time, our solution minimizes costs and streamlines your payment processes. Thousands of businesses and entities leverage the CSG solution to deliver omnichannel and hassle-free payments.

Contact our team today to expand your capabilities to include mobile credit card payments.