Updated: March 28, 2021
Wireless Credit Card Machines For Small Business
We are fortunate to exist in this technological era where you don’t have to keep the cash in a pocket to pay for your favourite products. As technology is expanding its realm every minute, new payment modes are coming to life to make shopping easier. You must have heard the term “plastic money” but what’s supposed to be the meaning?
Credit cards are known as the plastic money as there is no physical cash in your hand, but still, you can buy shop as much as you can through one single card. Credit cards are an essential source of small business expansion, and customers can pay from anywhere in the world without worrying about coming to the shop.
To make a business reach to every corner of the world, vendors go for wireless credit card machines for small business for quick payment mode. If you are planning to buy one for your business or you want to understand the importance of this whole process, let us get you details and lots more interesting facts about credit card machines.
Types of Credit Card Machines
Wireless Credit Card Machines:
The most popular credit card machines in the market right now are wireless. Most of the devices have built-in Bluetooth or Wi-Fi connection to help a user in checking out. These credit card machines work on batteries and make contact through wireless signals. Wireless credit card machines deliver great flexibility to business owners as they can move to different terminals with products as long as signals are strong enough to receive payments.
Integrated Credit Card Machines:
Integrated credit card machines are not so standard, and they provide a complete system to a merchant. These machines are based on the hardware and software mechanism with bells, whistles and portable scanner. You can see these machines on major stores where they scan tag through the portable scanner and after registering the product, payment will be made to a vendor. This machine is expensive and may require a monthly fee for security or maintenance.
Smart terminals are like a smartphone that can perform more in a minimum time. Smart terminals have touch keypad and built-in printer to carry out receipts. It’s a handheld device that can move around a store for payment purpose, and the user has to type pin to proceed further. Smart terminals are suitable for fast food restaurants where staff can deal dine-in and takeaway customers at the same time without disturbing payments. This device gives a modern look to a business without making consumers annoying in terms of payment.
Conventional Credit Card Terminals:
Conventional terminals are not popular at all now as they require a wire to connect from one system to another and take time to process payments. Conventional credit card terminals are available in different shapes and sizes and can be connected to a cash register. It also helps in collecting the additional information of the consumer. Some of them have come up with a built-in printer while some of them show payment details after getting connected to the systems.
How to Buy Right Credit Card Machine
To make shopping easy for your customers; it’s essential to buy a credit card machine. Many vendors get attracted to free credit card machine for a small business which is an attractive offer for a limited time, but the processing fee is expensive to bear.
TIP#1: it’s better to buy a credit card machine from MSP (Merchant Service Provider) or third party. If you buy from MSP, then it may cost you more but it will be wholly programmed and may have a guarantee.
TIP#2: Not every terminal will work with the provider, so at the time of buying wireless credit card machines for small business to ensure that it is compatible. Very few providers may allow you to process free while others will charge up to $100 on each terminal.
TIP#3: If you have a new business and you are looking for multiple terminals then definitely it requires more investment. It’s better to source these devices with a small loan through bank than investing at once. You may pay little interest every month from business and will own the terminals in no time. It is the best way to start saving, as well.
TIP#4: Before you buy any machine for the business, ensure that the terminal can read EMV (chips cards) as they reduce the possibility of payment fraud. Most of the devices in the market are now coming up with this feature to protect the vendor from payment scam. Some of the devices are also supporting electronic wallet systems such as Apple Pay or Google. You can expand the payment method later if your terminal is offering such a feature.
TIP#5: Your priority should be to choose the user-friendly credit card machine to avoid complications and blunts in front of the customer. It must be simple enough that the staff of your business can use it without making your customer suspicious or confused. It must have sophisticated features and a good range of signals to process payment quickly.
TIP#6: While making a buying decision, ensure that you are picking a machine according to your customer’s needs. It would be great if you will go for a device that offers multiple card options. Another essential factor to consider is to look for security features. Choose the latest model that offers encryption and high-security features to keep details confidential. This method will enhance your business worth and trust of consumers.
How does It work?
Whenever you look at the whole payment system of a store and how you can pay in seconds through a credit card machine, it seems like a big deal and how big of a process is involved in it, but it’s quite simple. If you are curious regarding how credit card device works, then here we are to explain you step-by-step, how it works.
As soon as sales person swipe your card in a machine for payment, a request from merchant deliver to the card-issuer bank to check legal authorization. This step answers whether the card is valid for such transactions or if it belongs to this person or not?
As soon as the bank receives a request from the merchant, they verify the status of the card, location, mode of payment and purpose of payment to clear all the red flags. This process gives satisfaction to a merchant that payment is safe from any scam, and we can proceed further with a specific card.
Approval Or Denial:
If the card has sufficient funds and there are no restrictions from the bank, then payment will be approved. In case of denial, ensure that your card is active or use other modes of payment. Due to signal issues, sometimes payment may result in declining.
Why Should a Merchant Use Credit Card Machines?
There are so many benefits you can have from keeping a credit card machine at your store. As a merchant, if you are planning to expand payment modes, then here are some of the benefits to let you know about its importance and usage.
Credit card machines help you in enhancing the sales and in gathering more customers for products. If your machine is offering multiple card payment mode; then it will broaden the business scope and enhance your sales. Due to no cash in hand, many people like to pay from card and machine will be the source of boosting your sales in no time.
Many customers who don’t have physical cash may ask you to accept their checks or give them a product on credit. This long waiting process may annoy you a bit as you have to wait for payment clearance as well as there is no guarantee of clearance. Credit card machines will improve the cash flow, and it will be deposited directly to an account in a few minutes.
As soon as you decide to expand payment modes, it will be easy to reach customers to all parts of the world through e-commerce platforms. People from all around the world can pay you through credit cards for your products, and it will help you in generating handsome revenue in a short time. Other than an e-commerce store, you can sell products directly to customers by asking them to pay through credit cards. This method will also provide credibility and identity to your business through smart advertisements.
The best way to deal with a long line of customers is to make them pay through their cards. During sale hours or when some product is in demand, usually, customers come in groups, and it may be hard for a cashier to deal with them as they all want to pay first. Wireless credit card machines for small business take a few seconds to deal with the payment procedure, and within a minute, you can satisfy 2-3 customers without any suspicious payment activity. Ensure that your device has strong signals to work at a faster pace.
FAQs (Frequently Asked Questions)
Q: Do I always need internet to operate credit card machine?
A: Without the internet, credit card machines are of no use. No matter if you have a wireless credit card machines or conventional, a high-speed internet connection is essential to process payments. You can also use a machine that uses cellular data to process quick payments.
Q: Should I go for a free credit card machines for small business to get started?
A: It may seem attractive to offer to you to have a free credit card machine, but later, you may get charged with high processing fees. You can get a free credit card machine if you are not willing to invest in a device but can deal with expensive fees.
Q: Is it possible to pay through mobile devices by connecting it to a credit card machine?
A: Some of the advance credit card machines for small business may work with tablets and other mobile devices, but it requires a swiper. A small accessory will be attached to your mobile device that can process payment through the mobile app. Other than the credit card machine, you can also use the smart terminal and set credit card manually into the app.
Q: What security feature should I look for in a wireless credit card machine for small business?
A: PCI is the first feature you should look for in a credit card machine due to security measures, and it can provide data encryption as well. The second feature should be EMV, that has the potential to read chipped cards to process payments quickly.
Q: How much time does it take to transfer funds to my bank account through a credit card machine?
A: If there is no dispute and your bank is not holding any charges back, then after going through Automated clearing charges, funds will get transfer to the bank account within two working days. If your bank is not verifying the payment, it may take time.
Q: What kind of credit card machine do I need to buy for accepting mobile payments?
A: To give more flexibility to customers for paying, you can look for the credit card machine that posses NFC technology. This type of device will accept mobile payments, including Apple Pay, Samsung Pay, Google Pay and many more without interruptions in between.
Q: How can I set up a credit card machine for the first time?
A: The first step is to set up a payment gateway account, once you are done with this, create a merchant account. Accept the credit cards mentioned on the machine, and you are all set to use the credit card machine for payments.
Investing in an appropriate credit card machine will bring you lots of benefits but also supports the expansion of the business. Wireless credit card machines for small business will help you in meeting business needs, and your customers will be satisfied with the payment process.
This simple investment can take your business venture to a whole new level, and the customer can choose plenty of options to pay for a product. People all over the world like to pay through credit cards and this is the kind of investment you won’t regret a day.