Five of the best mobile payment options

prelin —  May 16, 2013 — Leave a comment

As mobile payments continue to grow in popularity we’re looking at five of the top payment systems we find the most interesting and feel have the most potential to grow into massive, worldwide services although most of these providers are only available in the United States. We’ve divided the services up into mobile card readers and mobile payment providers:

Card Readers:


If you’re looking for a no-frills approach to mobile credit card processing, then check out Square. With no monthly fees, no contracts and no merchant accounts, Square is a good solution for those who only occasionally need mobile payment processing.

Square links directly with your bank account and accepts payments from all major credit card companies. Its transaction fee of 2.75% is a little steep, but with no additional monthly fees, you could end up saving money with Square if you don’t use it regularly.


At $12.95 a month, Intuit’s GoPayment for iOS and Android devices is another great option for business owners looking for a mobile credit card processor.

The hardware required for swiping credit cards comes at no additional charge, and transaction fees are competitive, at 1.75% of total sales. GoPayment accepts all major credit cards and offers email receipts for customers.

If your business is already using QuickBooks or another Intuit Payment Solutions software, then GoPayment might be a great choice for you. It automatically syncs with your accounting software, helping you easily manage your books, even on the go.

Mobile Wallets:


MasterCard’s PayPass lets your business accept fast payments through an NFC-enabled point-of-sale (POS) terminal. Customers can tap their NFC-enabled credit card or smartphone over the terminal to make a payment.

PayPass vendors must either purchase a plug-in NFC reader from MasterCard or install a fully integrated POS system from the company. MasterCard does not charge vendors additional usage or transaction fees for the PayPass system.

Having a PayPass terminal in place at your register will allow your business to accept many forms of contactless payments, not just those made with MasterCard. Google Wallet and ISIS Mobile Wallet both can be used with PayPass readers.

MasterCard also offers a secure digital wallet — the MasterPass —that your business can use to make checkout easier for customers. The service is currently free for both merchants and customers.


This app allows merchants to accept payments from customers using only mobile telephone numbers. Merchants can choose to add Boku as payment option on their website, mobile site or app.

Customers simply enter their mobile-phone number, and payments are added directly to their phone bill. No bank accounts or registration are required.

Boku does not publish pricing information for merchants on its website, but you can apply for a Boku account online by providing your business’s basic info.


LevelUp is an app for merchants that allows them to accept mobile payments from any customer, without a credit card, regardless of whether or not they have a smartphone.

Merchants use a LevelUp terminal, which integrates with their existing POS system, to scan the quick response (QR) code on a customer’s smartphone or LevelUp card.

In addition to making mobile payments quick and easy, LevelUp lets businesses create unique loyalty programs for customers. Regulars automatically receive credit to their LevelUp account when they frequent their favorite merchants. And the app gives business owners access to a range of powerful analytical tools, so they can keep track of customers and their purchases.

LevelUp’s Interchange Zero payment network is free. The company doesn’t charge transaction fees or charge for hardware. Instead, merchants are charged for running marketing campaigns with LevelUp. Merchants pay $0.40 for every dollar of credit redeemed by a customer.

In the future it seems all payments will be mobile but until then plastic is the way to go!


No Comments

Be the first to start the conversation!

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s