Are you wondering what type of payment processor is best for food truck? If YES, here are 7 best payment processors for food truck in 2023. Choosing the perfect payment solution for your food truck business is very vital to its success. Mobile businesses like food trucks deserve a flexible payment solution to make it easier and faster for customers to pay bills.
Presently, the best payment solutions have gone far beyond just accepting credit cards. With the consistent advancements in technology, businesses can now choose from numerous methods, tools, and platforms for accepting payments.
As a food truck owner serving busy people who are looking for the right mix of quality and convenience, this is a trend you can’t afford to ignore. Just some few years back, it was quite easier for food truck owners to accept cash than credit cards.
To collect credit cards in those times, you had to invest in a very exorbitant POS system or leverage one of those unpleasant carbon copy machines that seemed not to be working right. But today, new technology now presents food truck owners with more options than ever.
Indeed, mobile payment processors is a must-have in this present age because it lets you attract customers who would walk on once they notice you only accept cash, while also making it less stressful for you to accept and manage credit and debit transactions.
Although payment processing comes with its downsides, the processing are still businesses in their own rights eager to generate more revenue and also make a profit, therefore it is essential that you understand all your options. The basics of payment processing for your food truck sales are very easy to understand.
Have in mind that your first step is to choose the right payment processing company. There are numerous options to choose from in the United States, you only have to understand what you want, then research what each one offers you. It is also necessary that you compare prices extensively to find the ideal plan that suits your business.
However, once you are done with your research and selection, you can set up a merchant account with your company of choice, then collect and set up the equipment necessary to process payments. The main act of processing a payment is not that daunting.
For instance, when a customer makes a purchase with his credit card, his credit card company will have to first approve the transaction. At that point, the money is electronically moved into your merchant account by your processing company.
Have it in mind that the service or swipe fees are deducted and the balance is available to you. By logging into your account, you’re then allowed to transfer or withdraw these funds. It’s that easy. However, to find the right choice for your business, you’ll need to reflect on the fees/pricing, security, location coverage, hardware/software requirements, customer support, and more.
Note that as the mobile food industry steadily grows, so does the technology that lets mobile vendors accept various forms of payments from their customers. While you have a number of payment processors to choose from, here are top choices for food truck businesses.
What is the Best Payment Processor for Food Truck in 2023?
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GoPayment POS (Intuit Quickbooks)
GoPayment POS is a well-known point of sale and mobile card reader app that offers businesses the platform to receive payments on iOS or Android devices. Note that the sales through the GoPayment POS work with QuickBooks Online so that business owners can easily manage funds and expenses.
GoPayment POS receives all major credit or debit cards with Magnetic Stripe or EMV chip cards, bank transfer, Google Pay, Apple Pay, and Samsung Pay. In addition, QuickBooks offers solutions for 240 countries throughout the world. However, note that GoPayment POS availability may vary across country and currency.
Square is well renowned in mobile payment solutions for small businesses with a user-friendly system that makes it easy for companies and customers. Note that it offers an app, physical card scanners, and a Point of Sale system for small businesses.
Square more or less accepts all primary credit cards, including American Express. Square is presently available in the US, Canada, Japan, Australia, and the United Kingdom, with its point of sale available in most countries listed in the Apple App Store and Google Play Store!
Have it in mind that Chase Paymentech is a merchant service and payment processing business from JPMorgan Chase that offers small business owners the opportunity to accept real-time payments on mobile devices.
Chase Paymentech more or less accepts all types of credit and debit cards, electronic checks, plus digital, alternative, and mobile payment options. According to reports, Chase Merchant Services is able to accept international payments in more than 130 different currencies. However, Pricing and fees will surely vary depending on country and currency.
Have it in mind that PaySimple’s business model brings together a mobile payment solution with a transitional merchant services provider. Note that this company offers mobile payment options and appointment scheduling features from phones and tablets to help small businesses achieve success.
PaySimple accepts credit cards, debit cards, and e-checks while also providing businesses with the ability to create invoices and manage multiple other invoice payment options through a secure portal. PaySimple is presently only available to businesses in the United States that process payments in USD.
With numerous transaction methods and extra features that enable business owners to expand their mobile payment capabilities, Stripe is a complete small business payment solution. Note that they accept credit/debit payments, in-app payments, subscription billing, mobile wallets, and bank transfers.
Stripe is currently available for businesses in 43 countries, and the Stripe Atlas program also lets global business owners incorporate a U.S. company to receive and process payments.
As we all know, Shopify is one of the most popular eCommerce and online sales platforms. However, Shopify POS is designed for small businesses to process mobile payments in physical locations leveraging a mobile device or tablet.
Have it in mind that Shopify POS can accept any credit or debit card payment through a swipe on an iPad or iPhone or via contactless payments using EMV-compliant readers. Shopify POS is currently available for use anywhere in the world with an internet connection, but your store will have to be based in a country where Shopify has supported credit card providers.
Notably, PayPal is a foremost payment solution with a wide range of methods for small businesses to accept money. Meanwhile, PayPal Here is a mobile payment app that expands PayPal’s online payment methods for businesses with physical locations.
According to reports, PayPal Here receives various card payments and allows small businesses to record cash/check transactions and create invoices.
Its more encompassing service offering also accepts online payments and bank transfers. (Venmo is another mobile app for requesting, sending, and receiving money owned by PayPal). PayPal Here’s card reader and merchant processing system is available for businesses in the United States, Canada, Australia, and Hong Kong.
Even for food truck businesses that have always accepted only cash before, there is no reason not to use one of these well renowned, affordable mobile payment processors—and plenty of reasons that you should. However, always remember that the best option for your small business should be affordable and allow your customers to make purchases easily.