The Best Mobile Credit Card Processing Companies

If you run a business that you manage and operate when you’re on the go - at least partially - mobile credit card processing is something you may be considering.

You have a lot of options available to you, but don’t worry. We’ve chosen the best ones, and we have some helpful information for you to keep in mind as you make your choice.

Our Top Picks of The Best Mobile Credit Card Processing Companies

Easy Pay Direct
Companies with over $50,000 in Monthly Processing
Good for high-risk industries
Very few negative reviews
Single Point of Contact for Multiple Merchant Accounts

summary

5/5

Best for

E-commerce companies, SaaS companies, "high-risk businesses", & established small/medium businesses ($500,000+ in annual sales)

Specializes in

Easy Pay Direct has unique gateway software and banking solutions to optimize payments for eCommerce, SaaS, information products, supplements, and CBD amongst other verticals.

Pricing Summary

Setup Fee:  $99

Monthly Fee: $24.95

Swipe Rate: 1.59% + $0.17

Keyed-in Rate:  2.39% + $0.29

Early Termination Fee: $0 (domestic accounts)

Contract Terms:

1 Year 3 Years
Dharma Merchant Services
Small business merchants
Companies looking for transparency
Mid-to-large businesses
Interchange-plus pricing offered exclusively
No annual fee or monthly minimum
Month-to-month billing with no early termination fees
Discounted pricing for qualified nonprofit companies
Outstanding sales transparency and highly ethical business practices

summary

4.5/5

Best for

Dharma's website caters its services to small-sized businesses with up to twenty employees, in verticals such as restaurants, non-profits, and e-commerce platforms.

Specializes in

Dharma Merchant Services provides mobile phone processing and tablet-based POS options for merchants courtesy of Clover. Moreover, Dharma offers the Clover Mini station, which includes Clover's PRO software set. The company also resells the Clover POS solution, including a full cash drawer, built-in fingerprint scanner, and printer.

Pricing Summary

Setup Fee: N/A

Monthly Fee: $20

Swipe Rate: N/A

Keyed-in Rate: N/A

Early Termination Fee: None

Contract Terms:

Month-to-month
eMerchantBroker
High-risk merchants that struggle to find payment processing services
High approval rate for high-risk businesses
Variable Rates Depending on Volume

summary

4/5

Best for

eMerchantBroker is best for any size business that is considered high-risk. It's considered one of the top payment processors for high-risk businesses that would otherwise have difficulty finding a standard merchant account provider. 

Specializes in

eMerchantBroker specializes in credit repair, collections agencies, adult websites, travel and timeshare, firearms and guns, bankruptcy and bad credit, online and in-person smoke shops. They also work with electronic cigarettes and other companies that fit into the high-risk merchant account category.

Pricing Summary

Setup Fee: $0

Monthly Fee: Undisclosed

Swipe Rate: 3.00% + $0.15

Keyed-in Rate: 4.00% + $0.25

Early Termination Fee: Up to $595

Contract Terms:

1 Year 3 Years

What is Mobile Credit Card Processing?

Gone are the days when mobile phones were only good for making calls and texting.

Today, our cell phones can do anything; watch videos, listen to music, and even pay for the stuff we buy.

If you’re a business owner (aka merchant) that has some type of mobile business, it pays to have a way to process payments for your customers.

You can easily use your mobile phone (or your customers’ phones, in some cases) to process payments. It is a process that works much the same way that accepting payments in the store works.

Why Would You Need Mobile Payment Processing Services?

You would need mobile payment processing if you have a business that needs to accept payments outside of a brick and mortar store.

There are many types of mobile businesses and people who could benefit from on-the-go payment processing services, such as:

  • Food trucks
  • Event planners
  • Virtual assistants
  • Social media influencers
  • Mobile massage therapists
  • Personal trainers
  • Musicians
  • Auto detailers and mobile mechanics
  • Hairstylists
  • Photographers

This is actually a short list, but you get the idea.

Being able to process payments while you’re out and about is very convenient for you and for your customers. It will keep you from having to worry about processing them later when funds might not be available to cover what you sold.

Mobile Payment Options

There are many ways to process mobile payments just like there are a lot of ways to process in-store payments.

You can choose one of the options below, or a combination of them.

Browser-Based Payments

Lots of people are doing most of their shopping online right now, and they typically do it from a cell phone or tablet.

If you’ve ever shopped online, you’ve probably been taken to a shopping cart or a checkout form where you added your payment information. That is called making a browser-based payment.

In many cases, customer payment information is tokenized and stored so that when they return, they don’t have to enter it all over again.

In-App Mobile Payments

In-app mobile payments are similar to browser-based payments. The only difference is that instead of going to a website, everything is done through an app on your phone.

Any store that has an app typically has this capability (aka Walmart, Target, etc.).

There are a lot of benefits to this method because customers can feel more at ease about the security of their purchases. All they need to do is register their preferred payment methods once, and they are saved for current or future use.

Wireless Credit Card Readers

You can easily swipe credit card payments on the go when you have a wireless credit card reader.

These handy devices turn any mobile phone or tablet into a mini POS system. The reader pairs with the device either through a Bluetooth connection or through a pre-existing headphone jack.

Wireless credit card terminals are similar, but all they need is an active WiFi connection (and not a data plan) in order to accept payments.

Contactless Mobile Wallet Payments

Mobile wallet payments (aka Google Pay, Samsung Pay, Apple Pay) are becoming more common and popular.

They offer a way for people to pay for what they want to buy without having to swipe a credit card or even enter any numbers. This is done through NFC technology.

All you need for contactless mobile wallet payments is to have a reader that can accept them.

Your customers simply wave their devices across the reader and the payment information is captured, tokenized, and processed.

What’s the Difference Between Mobile Payment Processing and POS Systems?

A POS system is a standard piece of hardware that many businesses use to accept and process payments. They come in all shapes and sizes, but can include any of the following:

  • A desktop unit or tablet computer
  • A cash drawer
  • A receipt printer
  • A scanner
  • A credit card machine

POS systems are cloud-based, which means all data is stored securely in the cloud.

They can do a lot more than just accept payments too. Some businesses use them to:

  • Manage their inventory
  • View sales reports
  • Complete payroll and accounting
  • Manage their customer loyalty programs
  • Offer discounts and promotions

Regardless of what type of mobile payment processing method you choose, your ability to do any of the above will be somewhat limited.

However, you should be able to access your sales information and reports online. Depending on the mobile processor you choose, you may be able to do even more.

The biggest difference between these two options is that one is mobile while the other is not.

Some merchants who sell products inside and outside their stores choose a combination of both so they have that added convenience of being able to process payments from anywhere.

Consider the Following Before Choosing a Mobile Credit Card Processing Company

So the big question is...how exactly do you choose the right mobile payment processor to meet your needs?

Let’s talk about what you need to consider before you make this decision.

Do You Need a Combo Deal (POS and Mobile)?

First and foremost, it’s important to decide exactly how you want/need to process your payments. If you plan on selling inside a store as well as outside a store, you’ll want to talk with a company that offers both.

Decide Which Features You Need

You can find mobile credit card processing services that include many features, but you might not need or use all of them.

Some baseline features that you’ll find include:

  • Tax settings
  • Tipping features
  • Receipts by email or text message
  • Split payments
  • Ways to record payments made by cash or check
  • Some type of “Quick Sale” option

There are also some more advanced features you can opt for, like:

  • More than one tax rate
  • Categories for your items
  • Discounting capability
  • In-app invoicing
  • Keyed-in entry capability

If you’re looking for high-end tech, you can find equipment that allows you to do everything from connecting a cash drawer to SKU and barcode scanning. It just depends on what your needs are.

Your Transaction Fees

Every time you swipe or key-in a payment, or take payments by mobile wallet, there are transaction fees involved.

Transaction fees typically range from 1% to 4.99% for standard-risk merchants, and they can be even higher for high-risk merchants.

Before committing to a mobile payment processor, make sure you get all the information you need about their rates. Otherwise, you could end up paying a lot more money for the same services you’d get elsewhere, but a lot cheaper.

Having said that...

Do You Want to Work with a Payment Aggregator or a Payment Processor?

Yes, there is a difference.

Payment aggregators like PayPal and Stripe are the companies that a lot of small business merchants start out using. They can work well for business owners whose transaction volume is relatively low.

But there are a lot of problems with them too.

For example, if you have a customer dispute a charge or ask for a refund (this is called a chargeback), and that happens frequently, a payment aggregator may freeze your account and hold your funds.

It’s not uncommon for them to close accounts without warning, which can hinder you from accessing your money for as long as several months.

Still, payment aggregators can work in some cases. They do offer an easy application process and sometimes you can be set up to accept payments within minutes.

Working with a payment processor like any of the ones listed above gives you an added layer of protection. You’re much less likely to have your funds frozen or your account closed when you do business with them instead.

Don’t worry. We’ll talk about why in just a minute.

How to Choose the Best Mobile Payment Processor to Meet Your Needs

Now that you have all the basic information you need, it’s time to choose your mobile payment processing company.

Here are some helpful questions you should be asking before signing on the dotted line:

  1. What do you offer for security and fraud protection?
  2. Does your company offer live support either online or on the phone?
  3. What are your business hours? What happens if I need to talk to someone in the middle of the night?
  4. How long will it take for me to receive deposits in my business bank account?
  5. What is your pricing structure? (Hint - If they say Interchange-Plus, that’s a good thing because it’s the most transparent model.)
  6. What companies, if any, do you partner with that might be involved in the services I receive?
  7. Do you offer sales reporting tools or other features I might need?
  8. Are there additional fees I will need to pay?
  9. What happens if I decide to no longer use your services? Is there an early termination fee or a contract?
  10. How easy will the checkout process be for my customers? Can it be customized?

Additional Information to Keep in Mind

There are a few other things you’ll want to keep in mind before choosing your mobile payment processor.

You’ll Need a Merchant Account

First of all, what is a merchant account? Is it the same as your business bank account?

No, a merchant account is what is necessary for you to be able to process payments with a mobile processor, but you’ll also need one if you choose a combo approach with a POS system or terminal.

Your merchant account is where the money will go once it leaves your customers’ accounts. From there, transaction fees and other fees are removed before it is sent to your business bank account, where you have access to it.

Payment aggregators use just one merchant account for everyone, which is why they often close accounts and freeze funds without notice. They have to manage their risk among all merchants in order to protect their master account.

But a mobile payment processing company will provide you with your own merchant account, possibly even more than one, if needed. This is a much safer option for you and your money because the risk level is substantially smaller.

It’s Normal to Have Your Merchant Account with One Provider and Payment Processing with Another

Many merchant account providers also offer payment processing services. But not all of them do.

It’s not uncommon for them to partner with other companies to offer this service. But if that’s not something you’re comfortable with, look for one that does both.

Check the Company’s Track Record

When you’re working with a payment processing company, you need to be able to trust them.

If this is the first time you’ve considered accepting mobile payments, it pays to do your research. There is a lot of information available online about the best mobile credit card processing companies.

It’s a good idea to check reviews, the Better Business Bureau website, and this website to get information about any company you’re considering. Avoid choosing one that has been in business for only a short time.

You want to know that you can trust the payment processor you decide to work with. They’re going to have access to your livelihood, so make sure they’re dependable and honest.

What are Your Future Plans?

Do you plan to grow your business? Maybe you started as a mobile operation, but eventually, you’d like your own storefront, or you may begin selling your products and services online too.

If that’s the case, choose a company that can grow with you, just like they have grown with other business owners.

The Best Mobile Credit Card Processing Companies

  1. Easy Pay Direct
chevron-down