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Card payments have seen a meteoric rise in recent years and UK Finance anticipates they will make up 94% of all national transactions by 2022.
Card payment machines are an integral part of running any business, from brick-and-mortar stores to cafes and restaurants. But how do you find the best one for your requirements?
Wireless
Wireless card payment machines are an ideal solution for small businesses that want to accept credit cards from their customers without needing to plug the machine in. These portable devices let you take card payments from virtually anywhere – from street food vans to pop up shops.
Traditional card terminals, which require a landline connection via either fax or dial-up connection, transfer information wirelessly to your payment processor. This enables you to process more transactions without sacrificing security or slowing down your business operations.
The advantages of wireless credit card processing for your business include reduced costs and faster turnaround times. Furthermore, these machines are compatible with all major payment networks and can be set up quickly – in minutes!
Finding the ideal wireless credit card reader can be daunting with so many types available on the market. But it’s essential that you select a machine that meets both your current needs and anticipates future advancements in payment processing technology.
Some mobile credit card readers are equipped with NFC technology for contactless payments, making them capable of connecting directly to a payment gateway and taking tokenized in-person transactions. Furthermore, these readers can be paired with smartphones apps so it’s even simpler for customers to pay.
Card readers are an ideal solution for small businesses that don’t have a permanent location or open at certain times of day. Furthermore, they can help manage inventory levels and staff schedules.
Another popular option for small businesses are physical credit card readers that work with software known as mPOS apps (mobile point-of-sale apps). These applications provide all the features of traditional card machine software, like taking payments, monitoring staff performance and inventory control; however they can be set up from a smartphone.
These wireless credit card machines tend to be reasonably priced, offering a flat rate per transaction and no contract or hidden fees. This makes them an ideal option for small businesses that need to start accepting credit cards from customers but lack the funds or time to sign up with a merchant account provider and pay monthly subscription fees.
Portable
With the UK moving towards a cashless society, it is increasingly essential that your business be able to accept payments at point of sale. As such, there are various types of card payment machines available for different businesses and needs.
Portable or mobile card payment machines are designed for portability and use Wi-Fi technology to accept payments at multiple points of sale on your site. They typically support chip-and-PIN, contactless card transactions as well as payments made with Apple Pay, Google Pay and Samsung Pay.
These are ideal solutions for cafes, restaurants and other food and drink outlets as they allow the card reader to be taken directly to your customer. This provides a more personal and efficient experience as payment can be taken at their table rather than having them queue up at the till.
Wireless or mobile terminals are a popular choice for small businesses as they’re lightweight and easily carried around by store associates. They connect to a mobile network using SIM cards, as well as Bluetooth or WiFi connections.
They’re perfect for mobile hairdressers, market traders, taxi drivers and many other businesses as they allow customers to pay without leaving the premises. Furthermore, they work in areas without GPRS or 3G coverage so can be an ideal solution for outdoor cafes and restaurants with outdoor seating.
Some of the more advanced, cutting-edge models don’t even need a SIM card to operate; instead, they connect remotely using an app on a smartphone or tablet. This is ideal for market stalls and small shops since it allows you to accept payments anywhere without worrying about cash shortages.
When shopping for a portable card machine in the UK, it is essential to consider your individual needs and goals. Furthermore, ensure the machine you select is compatible with your current POS system.
Mobile Payments
UK customers are becoming increasingly reliant on their smartphones for payment purposes. Cash is only used for 17% of all purchases, while contactless payments are growing at an annual rate of 12%.
Mobile payments can be done through credit cards, debit cards or bank-issued e-wallets and are becoming a more and more popular option due to their convenience and security.
Mobile payment technologies offer small business owners numerous advantages. For instance, they enable your company to track customer data which can be utilized for marketing and upselling activities. Furthermore, these systems help reduce in-store queues and encourage repeat visits.
Mobile payments offer greater security than other methods of payment since no physical card needs to be swiped or held in your hand. The transaction is encrypted, and only the app authorizing it can access customer credit card details.
Although these solutions are relatively new, they are expected to become an essential tool for business owners across the UK. Not only will they help you boost sales, but also streamline operations.
As more consumers opt for digital payments, merchants must offer a welcoming and inclusive solution to attract all customers. One possible solution is offering a Buy Now Pay Later service which allows customers to pay in installments for products or services they purchase.
Another method is direct carrier billing, which enables customers to charge their purchases directly onto their mobile phone bill. This option is especially advantageous for prepaid smartphone users who don’t have access to credit cards or any other form of banking for processing payments.
In addition to these primary types of mobile payment, UK merchants have other options. You can accept payments through a virtual terminal or Ecommerce pay page – both regulated by the UK Payments Council.
If you’re searching for an economical alternative to traditional card machines, Zettle Card Reader 2 is an ideal mPOS solution. It is lightweight and user-friendly, able to be integrated into your EPOS system or mobile point of sale. Plus, it supports all major credit cards, deposits money into your account within 1-2 business days, and has 30% longer battery life than other readers.
EMV Compliant
EMV compliant card payment machines are an excellent way to protect your customers’ safety and security. These machines use computer chips that generate unique codes and tokens for added protection in credit and debit transactions, making them nearly impossible to copy or clone, making them much harder for criminals to fraudulently utilize.
Furthermore, EMV cards and card readers can be programmed to encrypt information before presentation for verification. This protects hackers from stealing the necessary data to create a counterfeit card.
To protect your business from fraudulence, the simplest solution is to upgrade to EMV compatible card payment machines before October 1, 2015 when a liability shift took place for merchants without such equipment. This shift makes it harder for companies to claim financial losses caused by fraudulent charges.
Another advantage to upgrading to EMV compliant card payment machines is their cost effectiveness. The technology is easy to set up and can save you a considerable amount on credit card processing fees.
When selecting an EMV compliant card payment machine, there are a few things to consider such as its price point, features and the fact that it accepts various credit cards. Furthermore, make sure the device can handle NFC transactions so you can take payments from any device supporting NFC technology.
It’s essential to take into account the type of business you run when selecting a payment solution. Some businesses are highly vulnerable to chargebacks, making it hard for them to remain profitable. Therefore, selecting an option that can accommodate different sales volumes is paramount.
Finally, EMV compliant cards take longer to process than magstripe credit cards due to the chip in the card having to communicate with a reader for several seconds, creating an unique code and token that increases security.
The only exception to this rule occurs when a card is used in a “card-not-present” transaction, whereby the customer provides you with their card information over the phone or online. Even if your card is lost or stolen, however, this won’t affect your liability.