When a business processes payments from their customers, the payment processing is typically handled by a third party that allows that business to accept credit cards, debit cards, and even checks. As wireless networking technology continues to make strides in all kinds of industries, debit and credit card payment processing becomes even easier through mobile payment gateways. Mobile payment processors allow businesses to quickly and efficiently accept payments anywhere they are.
These mobile payment processing gateways can be attached to a table or smartphone, allowing businesses to accept transactions in any location. This technology has become very popular in the restaurant industry. Mobile payment processors in the form of a wireless payment terminal allows the waiter to accept payments from the restaurant patrons directly, without the patrons having to leave their seats, or the waiter having to go swipe the credit card at a different location. This provides an efficient and quick transaction, instead of having to take the payment to a register, and bring the receipt back to the table. Some of these payment processors even feature software specialized for restaurants to install their menus on the tablet and organize reservations and seating arrangements through the software. Mobile payment processing terminals also include a Secured Socket Layer or SSL to further protect customer information during these transactions.
Although these mobile payment processing services are very helpful to restaurants, any business that relies on accepting payments and need to accept credit cards on the go can benefit from this technology. Forrester research reports that online shoppers will spend an estimated $262 billion in 2013. Businesses that rely on online sales can also use this new technology to process their transactions, even if they never leave their own home.
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