In addition to your\u00a0smartphone, you\u2019ll need a\u00a0credit card reader\u00a0peripheral (most attach to your phone via the headphone port); an app to handle things like taxes, tips and receipts, and a service provider to get the payments from your phone to your bank.<\/p>\n Mobile payment services, apps and smartphone credit card readers are available for most major phone models. In most cases, the card reader and app are free, with the service making its money off the fees.<\/p> Before making the commitment, make sure you confirm whether a particular service and\/or card reader will work with your smartphone.<\/p>\n Generally, businesses accepting credit card payments need a merchant account<\/a>. This is a special type of bank account that works with a processor service to transfer funds from a customer\u2019s card to the business\u2019s bank.<\/p>\n Most popular mobile payment services charge a per-swipe fee. Fees for keyed-in transactions (i.e. where the card is not swiped through a reader) are higher.<\/p>\n Also, don\u2019t forget your phone\u2019s role in all this. Conducting this kind of commerce requires sending data over either a Wi-Fi connection or cellular service. Depending on your phone\u2019s data plan, coverage fees could add up quickly.<\/p>\n You have a lot of choices when it comes to mobile payment technology. Be sure to do your homework and find the service that\u2019s right for your business<\/a>.<\/p>\n![\"credit](\"http:\/\/albertonrecord.stg.sites.caxton.co.za\/wp-content\/uploads\/sites\/35\/2016\/09\/credit-card-reader-peripheral-520x360.jpg\")
<\/a><\/p>Will this work for your business?<\/h3>\n
Keep an Eye Out for Hidden Fees<\/h3>\n