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Mobile Credit Card Processors: Which Is Right For Your Business

There are a number of new players in the payments processing space these past several years, and business owners don’t have the time to research the nuances of every option. We’re here to do the heavy lifting for you and help you select the one that’s right for your business.

Whenever we talk with small business owners who have a Square Register, a Paypal Here, an Intuit GoPayment, or any of the other card readers, we try to get a sense of what they like about the processor, what they don’t like, and what they’d change.

These mobile card processors are great for businesses doing $50k-100k in annual revenue, without huge fluctuations in the cost of their goods or services. Here are some of their thoughts, along with some of the trends in this fast moving industry.


Square accepts Visa, MasterCard, American Express, and Discover cards, but only in the US, Canada and Japan. They charge a flat 2.75% per swipe, and the Square pricing tiers are very straightforward.

Square has three payment devices: the classic Magstripe Reader that plugs into the headphone jack of smartphone or tablet, the Stand for more of a register feel with a tablet interface, and the Contactless pad which accepts payments through NFC and has a chip reader for EMV cards.

Square is great for small businesses, especially those who look for a sleek design, like trendy coffee shops, restaurants, and art galleries.


Paypal Here is very similar to the Square Magstripe Reader; it plugs into the headphone jack of your smartphone or tablet and works through the device interface. They charge 2.70% per swipe, and they accept all US-based Visa, MasterCard, Discover and American Express cards, with 1% added for international cards.

 The Here device, itself, is actually a little more well designed than the Square reader, according to many. This is because it has a piece of the device that swings into place and holds the reader firm against the phone. This is a nice value-add design aspect because, due to the headphone jack on the mobile device, sometimes the reader can shift around too much in between or during card swipes.

Paypal is great for business owners who use Paypal for other aspects of their business, like invoicing or checking, because it streamlines the number of systems you need to log into.


The GoReader from Intuit is nice because it integrates directly with Quickbooks, if your business uses the software for bookkeeping.

GoReader pricing is also very competitive, at 2.40% per swipe. If you sell a lot each month, Intuit even offers a monthly plan for $19.95 that drops the fee per transaction to 1.6%.

Intuit, like PayPal, also offers phone support, in addition to other digital support channels, like email, live chat, and Twitter. This can be a difference maker, depending on the business owner’s preferences; other processors, like Square, don’t offer phone support.

Micro-Business Lending

Square and Paypal, in particular, are both providing a huge service to this burgeoning industry of micro-entrepreneurs - the folks who sell their wares everywhere from festivals and flea markets to Etsy and Ebay. They have the same mission that we do - grow small businesses through cash injections.

In 2015, both payment processors have each extended over $1 billion in working capital. They, like Market Street Funders, are fueling a segment of the economy - micro-businesses and solopreneurs - that had been historically underserved and under appreciated.

[What Type Of Funding Is Right For You?]

In the past, you’d never be able to get working capital for that type of business, with that volume level. Square and Paypal figured out that they could lend proportionally, scale in ways that banks couldn’t, and make a real difference in the market. If a business has consistent revenues, it doesn’t matter that they’re planning for $2,000 in sales for the month; they can still receive growth-spurring working capital in proportion to that amount. 

For more information about micro-business funding and working capital, or about mobile payments processors, reach out to a Funding Navigator today!