How can I accept credit card payments in person?
In the past you used to have to apply for a merchant facility which would involve massive costs and a lengthy application process. While merchant facilities are still available, there are far cheaper options available today. If you have a smartphone, you will be able to collect credit card payment in lessons. Let's look at some popular options.
Note: the options available in your country may differ to what we have listed here. We're listing the most popular options so check these websites first. If these options aren't available in your country, a quick Google search for 'mobile card reader' should find what is available in your country.
Square
Square offer an incredibly cheap option to accept credit card payments in person. No monthly fees and no contracts means you can get started really quickly. Square send you (or you can buy them in many retail outlets such as Target and Best Buy) a small card reader that connects to your smartphone or tablet (iOS or Android). You're charged a percentage of the transaction and the funds appear in your bank account in two business days. At time of writing the fee is 2.75% per transaction.
PayAnywhere
Another very popular and cheap option compatible with iOS and Android. At time of writing they charge a fixed rate of 2.69% on any credit card type. So this option is cheaper than Square or PayPal Here. The card reader and app are both free so you only pay when you collect payment.
Find out more on PayAnywhere here.
PayPal Here
PayPal is well known for online payments and due to the competition in mobile card readers, they have created their own version. They offer similar pricing and features as the other options suggested above. As of writing they charge 2.7% for US credit cards. The reader is compatible with iOS, Android and Windows devices so if you have a Windows phone and can't use other options, this option is available.
There are many other companies offering card readers and thanks to the cheap technology and competition, it's now incredibly cheap to accept credit cards in person. New companies will appear all the time offering similar features and pricing to the above companies, so keep an eye out for one that suits you best.
We highly recommend having a card reader even if you usually accept cash in lessons. It's great to give your students an option and it's handy as a backup for when students 'forget' to bring cash.