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Mobile Payment, a breakthrough in the field of financial trade is a way of paying your money to anyone using your mobiles in just a couple of seconds. For a mobile to support payment online, the software developers throughout the world have been coming up with the software mobile apps in order to make the transactions the smoothest and the easiest they can be. From all the mobile payment apps that are in the market nowadays, the most famous 5 apps have been discussed below.

Square

Just a card reader that needs to get attached to a mobile device, Square can read the plastic cards and take care of the financial transactions. Following are the basic features of this app:

• This app is available for operating systems (OS): iOS, Android.
• It does not cost any setup, ongoing or charge-back fee.
• It can record data for unlimited number of reads.
• It costs 2.75 percent for every swipe.
• It enables customers to do signatures on the mobile screen.
• It provides both printed and electronic receipts to the customers, including any tip or service charges.
• It can also record transactions and all the details of purchase if Square Register, a point-of-sale app provided by the company, is installed.

Image credit: agbeat.com

PayPal Here

With the name of trust in the market for online payments attached to it, PayPal Here is another similar app with the provision of a card reader. In addition to the account services for PayPal, PayPal Here also accepts plastic cards and fund transfers from the bank accounts directly.Following are the basic features of this app:

• This app is available for operating systems (OS): iOS, Android.
• It carries out the fund deposits immediately.
• It does not charge any subscription or cancellation fee.
• It costs 2.7 percent per every swipe.

Image Credits: www.dezeen.com

Intuit GoPayment

It works like the previously discussed apps, but also provides its consumers with Quickbooks, an app that allows people to manage their business accounts. Also, there are many Intuit Point-of-Sale products available that automatically synchronize the transaction details with the system. Following are the basic features of this app:

• This app is available for operating systems (OS): iOS, Android.
• It sends electronic receipts to customers via email or texts
• Its cost is adjustable Cost – unitary transactions cost only 2.75 percent per swipe transaction, while monthly $12.95 fixed along with 1.75 percent per swipe transaction is charged otherwise.

Image Credit: www.pcworld.com

PaySimple

With whatever all the other apps discussed can do, PaySimple costs a bit more than what other cost for it also accepts the ACH and e-check payments, and sends electronic invoices to the customers. Moreover, in case of recurring payments and billings, like the pest control, etc., repeated every now and then, it enables the usersmaintain a record along with the customer data.Following are the basic features of this app:

• This app is available for operating systems (OS): iOS.
• It costs $34.95 monthly, excluding 2.39 percent per transaction charges.
• It enables customers to do signatures on the mobile screen.

Image credit: paysimple.com

Pay Anywhere

Pay Anywhere reads plastic cards like all the others when attached to a mobile device. Plus, it can store an unlimited number of accounts and their transaction details, making it easy to track the history of any customer. Following are the basic features of this app:

• This app is available for operating systems (OS): iOS, Android.
• It does not charge any subscription charges.
• It costs 2.69 percent per every transaction, which is scalable in accordance to the sale volume.
• It includes a photo of the customer and a brief description along with details of the purchase in the electronic receipt.

Image Credits: blog.fundinggates.com

Autho Bio: Umar Jamshed is an IT expert and a former consultant with The World Bank. He is a graduate of Curtin University, Australia. He works for http://boloro.com/ which is mobile payment network.

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