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m-commerce - The Basics
Mobile Commerce (m-commerce) isn't a new way of processing credit and
debit cards. The acceptance method has been around for a few years, but
is just really starting to make a large impact on how we do business
away from our offices.
m-commerce first started with the use of wireless POS (Point Of Sale)
swipe terminals and has since then made its way into cellular phones and
PDA's (Personal Digital Assistants). Wireless POS swipe terminals are
much more expensive (usually around $700 and up) then regular "wired"
terminals which require you to be nearby a phone jack and electrical
outlet in order to operate. As a result, this has caused many people to
find alternative ways to process transactions while their "on the road"
-- at least until now.
Cellular phones and PDA's have largely
grown in popularity and as a result manufacture's have made significant
improvements and added features to attract even more consumers and meet
current owners demands. |
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One of those features is wireless
transaction processing. Imagine being able to process credit card and
debit card transactions wirelessly within seconds at tradeshows,
business seminars, house calls, etc. Wireless Processing Benefits
Before m-commerce solutions became available collecting funds for orders
done "on the road" required people to either pay by cash, check or write
down their credit card information so you could process the transaction
later back at your office. The fact is, cash and checks can get lost and
credit card information, if not put in a secure place, can get into the
wrong hands between the time the information was taken down and the
customers card was charged. m-commerce solutions have taken a lot of the
hassles out of doing business "on the run."
* Improved cash flow * Secure credit and debit card authorizations
within a matter of seconds * Reduced instances of credit card fraud and
chargebacks * Ability to conduct business where phone line connections
don't exist
m-commerce Resources
1. Cell Phone Wireless Credit Card Processing Wireless processing via
your cell phone is probably one of more cost effective ways to process
cards on the road. Not only does a service like this work with cell
phones, but also any phone for that matter. Thompson Merchant Services
offers a very appealing wireless processing package for just $39 to
setup. I would highly recommend it, click here for mobile credit card
processing.
2. Virtual Terminal - If you have a laptop (notebook) computer that's
able to connect to the Internet while you're mobile (on-site, at a
hotel, etc.) then you can process credit card orders securely over any
Internet web browser. Since you cannot swipe the clients credit card the
processing fees are slightly higher, however you don't incur the high
costs of purchasing a wireless swipe terminal which ranges approx.
$700+. If interested, contact any Merchant Service Provider for details
and pricing. Virtual Terminal is almost always coupled with the purchase
of a Real-Time Internet processing solution. If you already have a
Real-Time solution check with your Merchant Account Provider on how to
process orders via your Virtual web-based terminal. The Virtual Terminal
solution is nice since there's no software to install and no long-term
leases to be bound to. Typical price ranges from around $50 and up,
however there may be no additional cost if purchased along with a
real-time processing solution.
3. IVR Terminals, also referred to as Interactive Voice Response
Terminals are a relatively new method of being able to process credit
cards, check cards (debit cards with Visa or MasterCard logo on them),
and checks (ACH - Automatic Check Handling) via any touch-tone or
wireless cell phone. IVR Terminals help to greatly reduce chargebacks
and fraudulent orders.
4. AirCharge offers solutions for both Cell phones and PDA devices.
Their PDA wireless processing solutions can be hooked to a card reader
so you can obtain the lowest rates possible for your face-to-face
transactions. They have several solutions available for both PDA's and
Cell phones.
5. BlackBerry 2-Way Pager with magnetic card reader. Wirelessly process
credit and debit cards on the go and ensure you get the lowest
processing rates possible by using a magnetic card reader attachment for
the pager. Rapidly decreases the chances of fraud and chargebacks.
NextDayFunding and ePayWireless are two companies that offer solutions
for the BlackBerry pager.
6. Wireless, portable POS swipe terminal ($700 and up). If you'd rather
just invest money in a wireless POS swipe terminal you can inquire with
any Merchant Account Provider and they can meet your wireless terminal
needs. There are wireless swipe terminals available that have embedded
printers and those that don't. In general, you can expect to pay a lot
for these terminals, and even more for those that have their own printer
embedded within the unit itself. illusion
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