Bank of America Mobile Point of Sale

What Bank of America Mobile Point of Sale is

Bank of America Mobile Point of Sale combines the BofA Point of Sale Mobile app and Mobile Card Reader D135 for mobile payment processing and sales reporting. Customers can pay by swiping, dipping, tapping, or phone, and receive receipts by email or text. The listed payment methods include credit cards, signature debit, cash and check recording, and magnetic stripe, EMV, and contactless Visa and Mastercard. PIN Debit, EBT, and gift card transactions are unsupported; contactless payments are unavailable for China UnionPay and JCB. The D135 reader requires a compatible iOS or Android smartphone or tablet supplied by the merchant. Use requires a Bank of America Merchant Services account and business checking account, with Merchant Services funds settled into that checking account. The maker says Business Advantage 360 enrollment is required for a Merchant Services account. Pricing is 2.65% + 10¢ per in-person swipe, dip, or tap sale, 3.50% + 15¢ per manual keyed-in sale, and 2.99% + 30¢ per online e-commerce sale. The D135 reader costs 109.00 USD once; an optional charging base costs 87.00 USD once. The service also supports recurring payments and offline payments, and includes 24/7 U.S.-based Merchant Services technical support.

Who it suits

This service suits merchants who need to take payments while away from a fixed point of sale and want sales reporting through the app. It requires Bank of America Merchant Services and business checking accounts, plus a compatible merchant-supplied iOS or Android device for the reader.

Limits

PIN Debit, EBT, and gift card transactions are not supported. Contactless payments are not supported for China UnionPay or JCB; the maker also says same-business-day access to funds at no cost is for qualified accountholders and is subject to credit approval and other conditions.

Getting started

1. Enroll in Business Advantage 360 and obtain a Bank of America Merchant Services account.
2. Use a Bank of America business checking account for Merchant Services settlements.
3. Get the D135 card reader and, if needed, its optional charging base.
4. Install or use the app on a compatible merchant-supplied iOS or Android device.
5. Connect the reader and accept supported payment types.

Verdict

Choose Bank of America Mobile Point of Sale if you need mobile payment processing and sales reporting and already meet its Bank of America account requirements. Check the per-sale rates and unsupported transaction types against your payment needs before choosing it.