2013 update of 2010 blog article Compare wireless payment solutions for silent auctions. After the Durbin Amendment fixed debit card rates, the need for pin debit wireless, especially in the non-profit world which tends to have very low fraud risk, is virtually non-existent.
wireless terminals vs mobile payment solution comparison:
- Wireless has a built-in receipt printer. Mobile sends receipts via email or wireless printer.
- Wireless can sometimes dial out where a mobile hot spot doesn’t exist. This situation is becoming more rare as venues ensure mobile internet access to compete for event hosting.
- Wireless terminal hardware costs range from $400 refurbished to $1000 new. Mobile swipe card readers range from free (with service) to $300, though most are in the $40-50 range. Wireless receipt printers start at $250 and up.
- Wireless terminal printers are built-in. Wireless WIFI Thermal Printers for mobile devices are $165 to $800, with $250+ typical.
- Wireless terminal networks are typically $20 hard cost per month per device, plus a wireless transaction fee. Mobile swipe solutions may be standalone or scalable simply by purchasing more readers, with one fee regardless of the number of units.
- Wireless terminals support pin debit which reduces dispute period from 120 to 14 days, usually not a significant benefit for fundraising due to low fraud. Merchants don’t pay MASTERCARD & VISA ASSESSMENT FEE dues and assessments on pin debit, currently $.001100 BASIS PTS TIMES total debit volume. Mobile pin debit is in development infancy.
wireless terminals vs mobile payment solution other:
- Wireless terminals require merchant account downloads. This can be tricky so terminals are not usually updated after deployed, which also rquires sending the unit out if pin debit encryption is needed. Mobile payment apps work in the cloud. Users may need to update apps from time to time, but processing is in the cloud so there is nothing related to download.
- Some wireless terminals can store transactions and send later, for example, after connectivity is restored. Caution: PCI Compliance may be in question as recent related data breaches have occurred in 2012-2013.
- Scalability. Cloud solutions provide unique scalability to temporarily add users and manage their permissions, and potentially integrate tightly with other payment sources such as online donor and event registration pages.