With all of the new technology, and a slew of companies touting the best rates and equipment, mobile credit card processing can be a confusing industry for small business owners to navigate. Here are 10 myths about mobile credit car processing, courtesy of Business News Daily.
Myth 1: I already have a POS system – the hassle isn’t worth it.
Myth 2: Setup is difficult and complicated.
Myth 3: All rates are conveniently the same.
Myth 4: Credit card information is stored on my mobile device after a transaction.
Myth 5: It raises the risk of fraud.
Myth 6: Wireless devices are unreliable.
Myth 7: Mobile processing apps are error-free.
Myth 8: If we build it, they will come.
Myth 9: Mobile wallets are about to happen.
Myth 10: The biggest business opportunity in the mobile payments space is in developed markets.