Entrepreneurship & Small Business

Mobile Payment Solutions for small business

  • Last Updated:
  • Apr 5th, 2018 12:07 pm
[OP]
Newbie
Mar 21, 2018
12 posts
5 upvotes

Mobile Payment Solutions for small business

These are pretty expensive, so I am looking for the best option on the market.

Square, Evelon, IvyPay come to mind. Which one is the best with:

- Lowest transaction fees
- Support for mobile devices and online access
- Online tools for reporting, tracking sales, etc
- Support in case of issues or inquiries
5 replies
Deal Expert
User avatar
Oct 26, 2003
30348 posts
2484 upvotes
Winnipeg
I also would like to know, it seems square is pretty big
Penalty Box
Apr 5, 2013
3767 posts
1160 upvotes
markham
i use TD mobile...the terminals are $20 month and sync to a smartphone app (good for debit too)...I also have IVR setup to account (telephone input)..i doubt its the cheapest but it has been great for my needs
Member
Feb 18, 2014
215 posts
38 upvotes
Companies like Square have a flat rate. They are on the high side, but the trade-off is no monthly recurring fees. If your volume is below approximately 3k / month, that's your best option. Companies like Elavon have a network of resellers that offer rates / services. That's where it gets tricky, as these folks all want to make a buck as well. Some are very transparent, others...not so much. If you are over the 3k / month threshold, and getting a reasonable deal, Elavon would be more cost effective.

Other considerations:

Cancellation fees. These do not exist with Square. For Elavon, they do not charge a cancellation fee, but some of their resellers do. Be sure to ask about this as it can really come back and bite you should you choose to cancel at a later date.

PCI Fees: They do not exist with Square, but most "regular" providers charge this fee. Fees for this vary, but overall, you should not be paying more than $30 / month in total recurring fees.

Feel free to PM me if you'd like more info.
Member
Feb 18, 2014
215 posts
38 upvotes
cardguy wrote:
Apr 4th, 2018 7:20 am
i use TD mobile...the terminals are $20 month and sync to a smartphone app (good for debit too)...I also have IVR setup to account (telephone input)..i doubt its the cheapest but it has been great for my needs
Glad it works for you. You're right in that it's not the cheapest. TD is always on the high side.

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