Credit card machines are essential for businesses that wish to accept payments in person. They can range from physical terminals that take swipe, chip and tap cards to software-based solutions which support digital wallets like Apple Pay.
When looking for a card machine, there are plenty of different models to choose from. To help you decide which one best suits your business needs, here are some important factors to take into account when making your selection:
EMV-equipped
For your business, the ideal card machines should have an EMV chip-enabled reader, which means they can accept all new credit cards that use chips to store account information. These chips offer much greater security than magnetic stripes which have been used for decades to process credit and debit payments.
Globally, EMV technology is becoming more widely adopted; however, in the U.S. it has taken some time for merchants to fully transition over to EMV equipment due to lack of awareness. Despite this progress, many establishments still lack this advanced equipment for transactions.
EMV stands for Europay, MasterCard and Visa; it’s a standard that enhances credit cards’ security by adding a microchip. This chip is extremely difficult to duplicate, protecting your information from fraudsters and counterfeiters alike.
Easy to use and consumers have found it more convenient than using a traditional card with magnetic stripes. Simply dip one end of your chip-enabled card into an EMV reader, which communicates with the card’s chip and allows you to pay for items at retail outlets or online.
However, it’s essential to remember that this system isn’t perfect and doesn’t prevent fraudulent transactions from taking place. With the liability shift taking effect October 1st, responsibility for card present fraud – where a customer presents their chip-enabled card to an merchant without using an EMV terminal installed and activated – shifts from the issuing bank and retailer to them respectively.
Businesses that have not upgraded to an EMV terminal face a major challenge, and it becomes even more challenging if you own multiple locations. If your company has yet to implement EMV technology, reach out to your sales agent for assistance in starting the process today!
To protect your business from counterfeit, lost and stolen fraud, look for a payment terminal with EMV capability as well as complementary security solutions like encryption and tokenization. These measures will help guard against such issues in your POS environment while also guaranteeing future-proofing your payment acceptance capabilities.
Wi-Fi-equipped
Wireless card machines offer many advantages to business owners. Not only do they simplify the payment process – essential for running a successful enterprise – but they’re portable and easy to set up, allowing customers to make payments with minimal fuss.
They can be employed in a range of businesses, from restaurants and bars to coffee shops and pubs. Merchants are able to accept card payments from various payment types and often have compatibility with popular mobile devices like Android phones or Apple iPhones.
Wi-Fi networking technology utilizes radio waves to rapidly transfer data, usually up to ten times faster than wired networks like Ethernet. It’s available on many products and is already a widely-used way of connecting to the internet – including smart TVs and Internet of Things devices such as fridges or cameras.
Additionally, it enables ad hoc communications between two or more devices – an increasingly essential feature of consumer electronics and other connected gadgets. Furthermore, mobile phone access as well as voice and video calls can be made via this protocol.
Security-wise, wireless systems tend to be more reliable than their wired counterparts due to lack of vulnerabilities. Encryption and tokenization can provide extra layers of protection for sensitive data that is protected against unauthorized access or eavesdropping.
They are more efficient, since they don’t need to be plugged into a power source and tend to be cheaper than corded devices. Furthermore, corded devices offer on-the-go businesses the benefit of not needing an additional cellular data plan and being able to function even when the internet is down.
These terminals are incredibly easy to set up and the approval process tends to be much quicker than with a stationary device. They can be configured with multiple payment types such as EMV chip-and-pin cards or tap and pay options like Samsung Pay or Apple Pay.
Small businesses, particularly those that operate in high-paced environments such as restaurants or bars, will find these cards to be an ideal solution. Plus, with free Square POS software you can take credit/debit cards quickly and have peace of mind knowing your customer data is always secure.
Mobile-enabled
Mobile-enabled card machines are an excellent way to increase sales at your business and take your point of sale system with you wherever life takes you. Plus, they’re more cost-effective than traditional card reader POS systems and easier to set up.
Mobile-enabled card readers offer an alternative to fixed card readers by connecting directly to your smartphone or tablet. You can use them for accepting credit and debit cards as well as contactless payments like Apple Pay.
These types of card readers are convenient and usually offer better security than physical credit card readers since they encrypt information before it enters your phone or tablet. Furthermore, you may save on merchant processing fees by choosing to utilize mobile-enabled card machines.
If your business is small, you might be debating if investing in a mobile card machine is worth the cost. While having access to sales anywhere can be beneficial, make sure the extra expense is justified for your venture.
While most card readers can be used with existing smartphones and tablets, you should be aware that some are only compatible with certain devices. Make sure the card reader you plan to purchase works with your gadget before making a purchase.
Bluetooth-enabled card readers are an ideal solution for taking payments on the go. They work with all magstripe, EMV and NFC cards and can be connected to your phone or tablet via Bluetooth connection.
These card readers are ideal for quickly and accurately swiping or dipping chip cards or using contactless payment services like Apple Pay and Samsung Pay. Furthermore, they operate faster than magstripe or EMV card readers, enabling you to process transactions more quickly.
Aside from these advantages, mobile-enabled card machines can help you track customer purchases. They also tell you which goods and services you sell most frequently so that you gain insight into your customers’ habits and preferences.
Finally, access control systems can be employed to regulate access to office spaces. This type of system is especially beneficial for businesses that have employees working remotely or across multiple locations.
Low-cost
Many small businesses don’t require or want a comprehensive Point of Sale system, and often only need or want a basic credit card machine. This could include either a mobile credit card reader or standalone terminal that accepts magstripe and chip cards as well as NFC contactless payments like Apple Pay and Google Pay.
When selecting a card machine for your business, it’s important to take into account its specific needs. You should decide whether you want credit and debit cards accepted or offer other payment types like checks or mobile wallets. Furthermore, consider whether you require either a wireless or countertop card machine, as well as whether or not the PCM can be portable.
Countertop machines range in cost from $150 to $600 and come equipped with a built-in receipt printer and keypad. They’re the most popular type of card reader and can be purchased from brands such as Verifone, Ingenico or PAX.
Stand-alone terminals can be connected to either a wired or wireless network and set up to accept EMV chips and magstripe cards. The best ones feature an iBeacon, or near-field communication (NFC) feature which enables contactless payments without the need for a smartphone.
Bluetooth and Wi-Fi readers allow mobile phone or tablet owners to make payments while on the go, with no worry of loss due to a lost or stolen connection. They connect wirelessly via bluetooth or Wi-Fi connection, but some can also process offline transactions when there’s no internet access available. This means you don’t have to worry about missing payments due to an unavailable internet connection while taking payments while out and about.
Mobile credit card readers are an increasingly popular way for small businesses to accept credit and debit cards on the go, with prices as low as $100. These devices attach to your phone or tablet via headphone jack or Bluetooth connection and work with a credit card processing app.
These are some of the most cost-effective options for accepting in-person and virtual payments. By avoiding high interchange fees charged by card networks and banks, you can save money. But to make sure you’re getting a great deal, compare each provider’s prices and terms carefully.