Basic breakdown. The most frequently asked question that our office gets from business owners when ready to accept credit cards via their smartphone is “Should I just key it in? Or should I swipe??”
The answer is, its completely up to you! But beware, your service provider may be charging you two rates, a Retail Rate and a MOTO Rate (Mail Order Telephone Order). The difference between the two? A lower or higher Discount Rate. Retail rates ,which is also known as a “Qualified Transaction” is achieved when a client swipes a card thru a phone swiper device, letting the banks know that the client was present for the purchase. MOTO Rates can be quite expensive, since there is a high rick involved with keying in a transaction where the card may not be present, therefore the transaction would be known as a “Non Qualified Transaction” and would incur higher percentages.
When your ready to set up your swiper on your phone, be sure to tell your agent how you will primarily be accepting credit cards, this way your set up correctly from the start with no confusion as to what your rates will be.
The last thing you need is to get set up as a MOTO with a swiper, getting charged MOTO rates when your entitled to retail qualified rates.
If you have questions, please feel free to give us a call. You can get a free swiper at the provided link in the graphic above. Our Qualified Rates are 169% for all swipes, with a free swiper and no monthly minimums, no contracts. Start accepting credit cards in 48 hours!
Mark
To Accept Credit Cards Off Your Smartphone With A Swipe? Or Without A Swipe? That’s The Question.