Theo Thimou Friday, April 1 st 2016
Let’s say you’re a vendor at an arts and crafts fair, or you have a hot dog pushcart in a busy downtown area, or you’re some other kind of merchant who doesn’t do business at a fixed location. You can accept credit card payments from customers using a little mobile credit card processor that plugs into a smartphone. Below are some no-contract services where the plug-in device itself that you use to run the card is completely free; you just pay per transaction with no contract.
SquareUp.com for Apple and Android phones charges a simple flat merchant fee of 2.75% on every swiped transaction. Pay Pal Here for Apple and Android phones charges 2.7%, though if you do more debit card transactions than credit card transactions, you can lower your transaction cost down to about 1.7%. And Intuit’s GoPayment.com for Android, iPhone and BlackBerry charges 1.6% per swipe on the pay-as-you-go model.