As e-commerce explodes in Australia it is also becoming a primary area of focus for financial institutions and online payment processing firms. This development can be evidenced by the fact that numerous companies – both startups and global powerhouses – are now promoting their own mobile payment platforms.
When considering which mobile payment platform to use, it pays (pun intended) to do your homework. Virtually all of these mobile payment options will take a percentage of each transaction you run, but that percentage can vary widely. Also, keep in mind that some of the mobile payment solutions providers will also try to charge you a flat fee for each transaction, as well as a percentage.
PayPal, Intuit, Square, and Global Banks all have options for you – but don’t get fleeced. Understand the terms of any agreement, find out what the percentages you’re being charged are, and go with the company that best fits the needs of your business.