Contactless payments are just as secure as EMV chip card payments and typically allow for quicker transactions. The NFC-enabled card reader communicates wirelessly with the customerвЂ™s mobile wallet on their smartphone when they are within two inches of proximity. To accept an NFC mobile payment, you need to use a card reader that allows for contactless payments, such as QuickBooks All-in-One card reader. Near-Field Communication payments are вЂњcontactlessвЂќ payments using mobile wallets, such as Apple Pay, Google Pay and Samsung Pay. The system you choose should serve the unique needs of your individual business. Each process has its own benefit and strength. When it comes to executing mobile payments, there are several methods available. In a business environment, mobile payments can be used for transactions of goods or services in store as well as outside of the store at pop-up events and markets. There are many different types of mobile payments, all offering customers the convenience of digital transactions and eliminating the need to carry cash.

Mobile payments are electronically processed payments through a mobile device, such as a smartphone or tablet. You can take payments on your mobile device using simple accounting or payment processing software. Mobile payments are a commonly preferred solution for both merchants and customers. ItвЂ™s important for small business owners to lessen the number of steps and amount of effort it takes to get paid. Along the way the check could get lost in the mail or your customer may forget to pay you altogether. And even when they follow all the correct steps it can take weeks, or months, for those funds to hit your bank account. Often, your customer has to jump through hoops to pay you. Getting paid is one of the biggest challenges faced by small businesses. During that authentication process, the chip card has to be inserted into the device for the entire transaction, which involves back and forth communication. EMV transactions will take longer than traditional magnetic stripe cards, because the EMV device reads the microchip to help authenticate that the credit card is valid. Although it is optional, EMV will help protect your business by providing increased fraud protection from counterfeit, lost or stolen cards, because the embedded chip is more secure than the traditional magnetic stripe technology. п»їEMV compliance is not a law and it is up to each business to decide if upgrading to EMV card readers is right for them. More information is available in this link. If you only key in credit card data instead of swiping cards, you will not be affected by the EMV liability shift, but you should always be aware of the ways to prevent fraud when processing online or phone transactions. If you plan on processing card present transactions in the future, you may consider ordering an EMV card reader to reduce your liability for counterfeit or stolen EMV/chip cards.

Stand alone credit card terminal