PayPal was founded in 1998 and has grown to become one of the most recognizable e-commerce companies. As of this writing PayPal is owned by eBay but soon they will be divided into two independent companies. In 2014 PayPal's revenue was $7.9 billion. Paypal is a global company that allows users to get paid in more than 100 currencies.
One more group competing for a piece of the mobile payment pie was created when Intuit combined QuickBooks Point of Sale with GoPayment. By merging these two products Intuit had the benefit of an already existing customer base. The success of the merger will depend on whether Intuit customers are comfortable using GoPayment and if new customers choose GoPayment instead of another mobile credit card reader.
Square is located in San Francisco, California. Square thinks everyone should be able to start and run a business, so they build tools to make that possible. The simple design of their reader and app have made them a popular company. Square lets customers sign up in minutes. They let businesses accept every major card for the same rate. In addition, they have used their popularity to help in the fight against aids. 97.25% of the $10 donation amount that is used to buy a SQUA(RED) Reader goes to the Global Fund to fight AIDS.
BluePay is a merchant solutions company that offers mobile credit card readers, POS systems, apps and a variety of additional products. The company is based in Naperville, Illinois. BluePay clients, at the time this review was written, include Maui Jim, Atlas Van Lines, R.R. Donnelley and many more. It has been featured in Inc. Magazine as one of its 500 fastest-growing companies.
Pogo does not seem to be offered by First Data Merchant Services anymore at this time.
Pogo, which is a mobile payment processing service offered by First Data, entered the market in 2012 and is currently headquartered in Atlanta, Georgia. Pogo will allow its customers to accept credit and signature debit card payments, as well as record cash transactions, by using their Smartphones or tablets via a small card-reader that attaches to a mobile device and can be used in conjunction with their downloadable mobile app.
Once your application is approved, you can then download the mobile app and immediately begin key entering card payments and accepting cash transactions. Once you receive your free card reader, you can begin swiping card payments via your mobile device. Here is how the process works:
You can receive your funds directly into your bank account, many of the automatic payments can be shown in your bank account as soon as the next day. You can also view your statements and manage your account via the Business Track website. But there are a few things you should note, however, and that is the fact that the time period for accepting American Express cards might be up to two business days. And that funding times are subject to your account application review and could vary from business to business.
Chase Mobile Checkout accepts all major credit cards on the go. There is no requirement to sign a major contract and Chase customers can have their account set up in a couple hours for free. If you are not a Chase customer it can take up to two days to set up a Mobile Checkout account.
ProPay provides payment solutions for all different types of groups, businesses, and people. They are owned by Total System Services and headquartered in Lehi, Utah. The ProPay Jak is a mobile credit card reader that functions just like other readers that have the ability to hook up to a smart phone to accept credit card payments.
Flint Mobile is an innovative mobile payment processing company headquartered in Redwood City, California. Flint is changing the way mobile payments are made and processed. They do not require a card reader in order to accept payments. The Flint app uses camera scan technology, which means all you have to do is scan your customer's card with your phone's camera. No manual keying is necessary; however, you can type in card numbers if you need to, but it will cost you a bit more in transaction fees. This is revolutionary and is likely to replace card readers and dongles forever, once the convenience of this technology catches on.
There are other payment processing providers who offer this type of camera scan technology; however, none of them have rates as competitive as Flint. Especially if you process a lot of debit card transactions, as the rate for scanning debit cards is much lower than it is for scanning credit cards. And you won't have to carry and maintain yet another piece of equipment that has to be stored while not in use.
Flint's service is simple. And we mean simple! There are only two rates, which are 1.95% for debit cards and 2.95% for credit cards, for both scanned or keyed in transactions. The transaction fees are automatically deducted from your deposits before they are transferred, so what you see in your bank account is entirely yours to keep. There are no monthly fees, no non-qualified fees, no monthly minimums, no early termination fees, no card readers to buy and no merchant account is needed. And they won't charge you if you become inactive.
Shopify does more than just provide merchants with mobile credit card readers. They are a full blown eCommerce company based in Canada that empowers all their customers to grow their business. In less than 10 years Shopify has gone from just 5 employees to over 500 employees who are all dedicated to helping others build their online business.
PayAnywhere is powered by the merchant service provider North American Bancard. When independent mobile credit card processing services like Square came onto the scene merchant services had to develop their own mobile credit card processing solution. PayAnywhere in the years that it has been in existence has established itself as a recognizable name in the mobile credit card processing industry.