Smartphone credit card payment processing was non-existent a few years ago, but today it is proving to provide a service for thousands of mobile merchants. Even brick and mortar retailers are choosing to accept credit cards on their phones for the convenience and flexibility it provides.
Researcher Aite Group estimates that smartphone payments will equal 11 billion dollars this year. By 2015, these payments will shoot up to 55 billion dollars a year. Astounding figures for merchants and customers alike.
Before jumping on the band wagon of accepting credit cards, ensure that the mobile app and credit card reader are secure (i.e. encrypted). Encryption ensures that the customers credit card information can not fall prey to hackers. The information is encrypted at both ends of the transaction, and is never stored on the smartphone.
Accepting credit cards on smartphones is easy, and the set-up is quick once there is a merchant account in place. To get started visit www.paymentmax.com