Credit cards are handy devices. With their advent, the customers have become more convenient and at ease when it comes to making financial transactions. But did you know that you can unlock various rewards or redeem the ones you have on credit cards? If not, don’t worry, for we are going to introduce you to the next-level banking:
What are Credit Card Applications?
These apps are designed specifically to benefit from numerous features your credit card has to offer. You can make online payments even if you don’t have an online bank like Simple Bank through your credit card app, track the history, identify fraudulent activities, shop online, view bank statements, manage stocks and inventories, even freeze your card if it’s lost or stolen.
If you are a vendor or small business owner, you might want to look at some of the best payment processing companies that offer the best deals on the fee you have to pay while accepting the payment from a credit card. This will help you to save more on every transaction as a business owner.
Top 6 Credit Card Payment Apps in 2021
Given-below is the list of the best six apps available as of 2021:
1. RBL MyCard
It is one of the best personal loan apps (by Bajaj Finserv and RBL Bank) besides offering credit card services as well. It provides a single place for a myriad of facilities, especially for monitoring your expenses and financial activities.
- Recharge utilities
- Virtual credit card available on the dashboard
- Avail immediate funding from this personal loan app
- View statements from the past 12 months
- Earn from vouchers, cashbacks, etc.
- Manage expenses with Spend Analyser
Square is, without any doubt, the leading credit card app today for start-ups and small scale businesses. The best part about this application is that it’s free of cost when it comes to setting up your account and not even any monthly fee is charged! But yes, a flat-rate fee is charged during online credit card transactions.
- Interactively laid out graphics that are easy to understand
- Built-in inventory management system to track your stock activities and monitor them
- Built-in Customer management system
- Incredible analytics
3. PayPal Here
Another alluring application where you can apply online for a credit card, get it delivered to your address and enjoy innumerable benefits is PayPal Here. Its transaction fees are slightly cheaper than that of the Square.
- Free magstripe card reader
- Graphical user interface
- Can add images to items in your inventory management
- Run reports on sales, employees, products, etc.
- Employee management system
- Apply online for a credit card
4. Shopify Lite
You’ll need to install Shopify (for adding products and tracking other activities) and Shopify POS (for conducting financial transactions). It is not free of cost and demands monthly fees as well. But its features are worth it.
- Compatible on mobile as well as desktop
- Top-grade inventory management systems
- Automatic updation in mPOS regarding inventories
- Can add all the employees for efficient management (charges applicable)
- Access to overviews, live views and financial reports
- Free chip and swipe card reader
5. Durango Merchant Services
Although it is quite expensive to use, it is a perfect fit for high-risk merchants who might be denied services at other platforms. It provides third-party online credit card applications for making payments.
- Varying rates based on the merchant’s risk
- Compatible with iOS and Android
- Integrated customer vault for saving customer’s details
- iProcess helps in making payments and keeping a track history
A significant competitor to Square and PayPal, PayAnywhere stands out by providing its services at a cheaper rate to its users. There are mainly two kinds of plans you can take up: Pay-as-You-Go and Standard.
- Use your phone’s camera to scan barcodes
- Define low-stock alerts before-hand
- Excellent inventory management system
- In-built Employee management system
The above-given apps have specific purposes. While some can only be used for managing businesses or start-ups, others like RBL MyCard and PayPal can be used by individuals as well. Compare all these apps and then choose the one that caters to your needs perfectly!
Also read: Tips to Pay Off Credit Card Debt
Gaurav Khanna is an experienced financial advisor, digital marketer, and writer who is well known for his ability to predict market trends. Check out his blog at Highlight Story.