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Should you buy an iPad credit card reader?
by Staff
Swipe-and-go credit card readers are all the iPad rage. Are they for you?

Which of the following is not a popular iPad credit card processing app?

  • Square
  • Inner Fence
  • Card Me

After you click "charge" on an iPad credit card reader, where is the first place the data is transmitted?

  • the customer's credit card company
  • radio tower
  • relay station

What currently provides the most security risk for iPad credit card customers?

  • malware
  • trolls
  • radio jackers

True or false: iPad credit card processing applications are generally free downloads.

  • TRUE
  • FALSE

True or false: To accept credit card payments in any format requires the hardware of a plug-in credit card swiper.

  • TRUE
  • FALSE

Generally, what is the price range you should expect to pay for a plug-in credit card swiper to accompany your iPad credit card reader app?

  • It's free.
  • Under a dollar
  • $1 to $10

An iPad credit card app that charges a registration fee and monthly premium for unlimited sales would be best for which of the following businesses?

  • a high-end art gallery
  • a low-end street vendor
  • a psychology practice with 10 weekly clients

An app that charges a per-transaction fee and a percentage of each sale would be best for which of the following businesses?

  • a high-end art gallery
  • a low-end street vendor
  • a psychology practice with 10 weekly clients

An app that allows vendors to buy bundles of 20 transactions for a one-time cost of $9.99 would be best for which of the following businesses?

  • a high-end art gallery
  • a low-end street vendor
  • a psychology practice with 10 weekly clients

Carnegie Mellon behavioral economist George Loewenstein said what of credit cards (compared to cash)?

  • It anesthetizes the pain of paying.
  • Cards are more secure than cash.
  • Both will be replaced by iPad payments.

Which of the following is not a common feature of iPad credit card processing applications?

  • accepts customer's digital signature
  • e-mails PDF from within app
  • stores credit card information to ease future use

Which of the following is not a capability of iPad credit card payment apps?

  • has built-in capability to read credit card magnetic stripes
  • syncs with GPS to track sales locations
  • determines accept/decline before sale is finalized

What most accurately describes the credit card reader hardware that commonly comes with iPad credit card processing apps?

  • a cigar-box-sized till that commonly also accepts cash
  • a red-light scanner like at the grocery store
  • a tiny swiper that plugs into the iPad's headphone jack

iPad credit card reader apps that charge a percentage of each sale commonly charge in what range?

  • 0.01 to 0.15 percent
  • 0.16 to 1.5 percent
  • 1.5 to 4 percent

In January 2011, TechCrunch.com reported that mobile payments company Square was valued at what amount?

  • $100 million
  • $2 million
  • $200 million

Juniper Research predicts that by 2015 the mobile payments sector will be worth how much?

  • $1 billion
  • $38 billion
  • $670 billion

What best decribes a "drive-by download," which may be iPad payments' greatest risk?

  • your iPad's attempt to sync with un-vetted WiFi networks
  • an unwanted, malicious download that freerides on legit software when you click "download"
  • software beamed to your iPad from other mobile devices without your knowledge

True or false: While accepting credit card payments with your iPad requires additional hardware (or typing credit card numbers in by hand), your iPad comes equipped with the ability to pay for items.

  • TRUE
  • FALSE

In contrast to the 1 to 4 percent that iPad credit card processing apps charge per purchase, for merchants grossing less that $3,000 a month, what does online payment giant PayPal charge?

  • a flat rate $0.30 per purchase
  • 2.9 percent plus $0.30 per purchase
  • 4 percent plus $0.50 per purchase

What security certification should you require of your iPad credit card reader app?

  • PCI DSS
  • STAP
  • NRI