Partner Article

Savvy Business Owners Embrace Wireless Credit Card Processing

In the past, payment options for mobile merchants were restricted to either cash or check. In our fast paced, security conscious world, many consumers prefer to pay with plastic. Lacking the ability to process credit card transactions, mobile merchants lost sales when customers did not have sufficient cash to pay for an impulse purchase. The advent of wireless/mobile credit and debit card processing now provides mobile merchants the same access to credit card authorization networks as retail businesses using a fixed landline.

Today, high-tech wireless point-of-sale payment card processing allows merchants to accept payments wherever they choose to conduct business. For vendors that sell at sporting events, outdoor venues, open markets, food carts or provide home delivery where traditional connectivity presents a problem, wireless facilitates the transaction. Market research studies show that the easier it is to make a purchase, the more likely the consumer will buy the product or service.

Wireless credit card terminals are compact, lightweight and portable. For business owners, wireless processing presents the best of both worlds by providing access to credit card authorization networks just the same as in a brick-and-mortar location while offering the mobility to turn any situation or location into a revenue making opportunity.

Fast, flexible and efficient wireless credit card processing provides flexible payment options that simplify the checkout process for the consumer while allowing the businesses to accept payments with ease and security from any location. Advances in wireless credit card processing technology helps merchants increase sales, save time and reduce operating expenses while offering the flexibility to expand outside the traditional retail environment.

Savvy business owners are rapidly converting to mobile/wireless processing in order to meet increasing customer expectations, become more efficient in processing payments and to provide better service by accepting and processing payments anytime, anywhere.

Now the challenge presented to mobile merchants is choosing the best financial company to process transactions. Wireless/mobile credit and debit card processing options are available from a diverse array of monetary service companies. There are plans for every size and type of business, large or small. Both established financial institutions and a plethora of new companies are entering the credit processing market offering a wide assortment of plans, options, fees and services.

Healthy competition drives the market and leads to an increase in innovative services and a reduction in fees. Competing to earn clients, many monetary service companies offer no -extras, no-sign-up fees, no-contracts and no-cancellation fees. Many financial companies offer clients the choice of a low-cost per swipe fee or a predetermined low-cost fixed monthly service charge. As new financial entities enter the mobile credit card processing market, research indicates fees will drop. Additional services will be offer as an incentive for merchants to add mobile processing to their business plan.

A leader in Internet technology since its begining, Tej Kohli funded and founded Grafix Software in 1990 to offer turnkey solutions to E-Commerce challenges. A privately held company headquartered in San Jose, Costa Rica, Grafix Software is known worldwide for its innovative technology and payment gateway services.

Addressing the rapidly developing technology of wireless/mobile financial services, Tej Kohli commented, “Developers of mobile telephony and payment applications are coming together to change the way world is shifting to mobile and in some of the developing countries there are people who are starting as smart mobile users instead of PC users. This creates a huge demand for companies to take business to mobile. New collaborative approaches are being launched in established markets in the US that effectively turn phones into credit cards. This is real disruptive technology, changing the way that people think about established processes, and at the same time bringing a whole new group of customers and prospects into the market. The new ideas and demands that come with them will continue that process of disruption and change. What’s more is that collaboration is going to be global. Countries that used to be referred to as emerging markets have now arrived. Other developing economies are taking their place. Old certainties about who leads the world in innovation are about to be shattered. No-one can be sure where the next solution will come from, but developers in South Korea and Brazil are as likely to avail themselves of the opportunities as those in Silicon Valley.“

This was posted in Bdaily's Members' News section by Marlene Affeld .