Guide To Accepting Mobile Payments
Learn how NFC, mobile wallets, QR codes, and mobile POS systems let small businesses accept payments from almost anywhere.
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WRITTEN & RESEARCHED BY
Expert Contributor
Last updated onUpdated
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Key Takeaways
- Mobile payments let customers pay using smartphones, tablets, digital wallets, QR codes, or payment links.
- Businesses can accept mobile payments with an NFC terminal, mobile card reader, Tap to Pay, or mobile POS system.
- Compare hardware costs, processing fees, supported payment methods, and POS features before choosing a provider.
Mobile payments let customers pay using a smartphone, tablet, digital wallet, or mobile card reader.
This guide explains the main types of mobile payments, how they work, and what businesses should consider before accepting them.
What Are Mobile Payments?
Mobile payments let customers make purchases using a smartphone, tablet, digital wallet, payment link, or mobile card reader.
Common types include:
NFC Payments
Near-field communication allows customers to tap an NFC-enabled card, phone, or wearable on a compatible terminal. Services such as Apple Pay and Google Pay use tokenization so merchants do not receive the customer’s actual card number.
QR Code Payments
Customers scan a QR code with their phone to open a checkout page or payment app. Businesses can display a reusable code or generate one for a specific transaction.
Mobile POS
A mobile POS system lets businesses accept payments through a smartphone, tablet, or handheld device. It typically combines a POS app with a card reader or Tap to Pay functionality.
Mobile Wallets
Mobile wallets store tokenized payment credentials on a customer’s device. Customers can use them for contactless payments in person or at participating online checkouts..
Text-To-Pay
Businesses can send customers a secure payment link by text message. The customer opens the link and completes the transaction through a mobile checkout page.
How To Accept Mobile Payments
Choose a mobile payment setup based on how your business operates. Mobile businesses may only need a phone or tablet with a card reader or Tap to Pay, while storefronts should use an NFC-enabled terminal that accepts contactless cards and mobile wallets.
Compare providers based on hardware costs, processing rates, supported payment methods, and mobile POS features. Start your search with our picks for the best credit card processing companies.
Chris Motola
Expert Contributor at Merchant Maverick
Chris has been writing about small business topics since 2003. He has been featured in Fox Business, ABC News, Yahoo Finance, GoBankingRates, Newsweek, BizJournals, and other publications. He has a Bachelor’s of Arts in English Writing Arts from SUNY Oswego, and a Masters of Science in Interactive Media from the University of Central Florida.
View Chris Motola's professional experience on LinkedIn.
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