Big or small businesses need to make their customers feel comfortable and at ease when carrying on any transaction. However, big and established businesses have an advantage; that is, they have an established and loyal customer base. However, small businesses have to grow and develop trust; hence, facilitating easy payment is crucial for them.
Buying A Credit Card Machine: All That You Need To Know
Credit card machines and their efficiency are of critical importance for small businesses. So, if you are the owner of a small business, try out smart, fast, and safe payment with UTPGroup.
This blog post discusses some key points that every buyer (owner of small shops/businesses) must remember when it comes to credit card machines.
Safety Of Payment
Many customers are worried that their financial security may be compromised while using a credit card. People fear that details like the credit card number or the validity period of a particular credit card may be revealed to a third party or to a fraudulent person. So, it is obvious that most small business owners pay key attention to the security features of a credit card machine to ensure that their customers do not hesitate to use their credit card machines.
Several security features are built into credit card machines to enhance their security, and one of the most common features seen in modern-day credit cards is EVM technology. Embedded security chips with EVM technology enhance the security of credit card machines. EVM technology ensures more sophisticated authentication than the regular black-colored magnetic strips that are seen on regular credit cards.
Contactless Transmission
Traditional credit card machines worked when the card was swiped in the machine. However, modern technology has made contactless transactions a possibility. Near-field communication is a technology that makes contactless communication possible. Credit card machines that use near-field communication, or NFC, as it is popularly known, allow a transaction if the credit card is around five to six centimeters away from the credit card machine.
The biggest advantage of using NFC-based credit card machines is that they improve the efficiency of transactions. So, the speed of transactions increases, and each customer has to spend less time waiting in a queue to pay their bill.
Lowering the waiting time has a big impact on the turnover and the business growth of small businesses. If a customer can save time and make payments without much hassle, he will, in all probability, keep coming back to the same store or shop. So, small businesses have pushed up the demand for contactless payment devices that use near-field communication technology.
Easy To Use
When the owner of a small business purchases a credit card machine, he has to train his staff and teach them how to use the machine. If a credit card machine is difficult to operate the owner will have to spend a lot of time and effort in training his staff. Hence, when you are buying a credit card machine for small businesses, look for ease of usage. In fact, choose a machine that requires minimal intervention from the staff or the employees.
Ease Of Movement
The ease of movement or portability of the credit card machine is important. If the machine is too bulky or difficult to move, placing it in the shop or the store will become a major problem. Ideally, the dimensions and the weight of the credit card machine should be such that a single person should be able to transport it from one place to another.
Taking Into Consideration The Connectivity
It is critical that a credit card machine has internet connectivity. So, before you make a purchase make sure that the credit card machine can easily get connected to the internet. Most credit card machines get connected through WiFi whereas some of them get connected through the Ethernet. So, sort out the connectivity-related issues and ensure that the credit card machine can get internet connectivity at all places inside your store or business premises.
Ability To Get Receipts
Whenever a credit card-based transaction takes place, your bank automatically sends a message or an alert informing you about the transaction. However, most customers still insist that they get a printed receipt whenever they make a payment. So, when you buy a credit card machine, make sure that the machine has a small printing setup fitted within it. In most cases, the ink on the bill fades away after a few days, but the clients can always take photographs of photocopies of the bill for tax deductions and other tax-related issues.
Efficiency Of The Machine
The efficiency of the machine or its reliability is important for all business owners. Here, efficiency would mean that the machine never fails to deduct the bill amount from the customer when the credit card is swiped. It is obvious that reliability is essential when it comes to credit card machines or else it could result in heavy losses for your business.
So, it is advisable that you get the machine for a trial period and test its efficiency. Usually, most manufacturers allow the buyers to take a trial for thirty days. So, you can easily get a trial run done and make a wise decision that avoids any potential loss for your business.
Conclusion
Credit card machines have great utility for small businesses. They improve the customer satisfaction rates and enhance customer loyalty. However, if you wish to use the credit card machine and suffer from minimal glitches you must check the efficiency of the machine in the trial period. Make sure that the machine gives you printed receipts and the machine is easy to operate.
Also, check if the machine has safety-related features that make sure that sensitive financial details of the customer are not revealed to a third party. And finally, pay attention to the internet connectivity and the ability to make payments in a contactless manner (near field communication technology).