When you’re planning your business infrastructure, it is likely that you’ll be deciding on which credit card machines will suffice your goals and offer value. Unlike the traditional times, credit card machines play a vital role for your business beyond simple processing capabilities. Irrespective of whether you call it a credit card terminal, credit card machine, or a swipe machine, you’re referring to a device that accepts credit card payments.
This article explores how the right credit card machine functions as one of the leading payment processing trends and assists your product and service offerings.
The top credit card machine features to look out for
Setting up your business with the right credit card terminal is one of the significant decisions you’ll ever make. As per studies, over 70% of consumers prefer using debit or credit card for transactions. Therefore, you need to offer payment methods customers prefer. So, you need to explore the right design, interface, and ease-of-use in a credit card machine to judge the overall look and efficient. Remember, credit card machines play a vital role into your business’ branding and customer experience.
Since there are different types of credit card machines you can choose one, selecting the right one can be an overwhelming process. Apt credit card machines can improve your operational process, enhance the user experience, and boost sales.
The different types of credit card machines
Thanks to technological innovation, there are several credit card machines you can choose from, depending on your business operation. These include:
Traditional terminals: The most common type of credit card machine is the countertop version. This credit card terminal needs to physical connection to your phone or internet to process payment. The benefits of this type of credit card terminal includes the processing of multiple payments, including gift cards, card transactions, and secure end-to-end payments. Moreover, you can add additional security layers by adding PIN terminal or other equipment.
Wireless/mobile terminals: Having a mobile terminal allows you to process payments without being connected to a landline or the internet. They can use Wi-Fi to connect wirelessly and process payments. Having this payment terminal is beneficial for businesses that operate mobile or want to give more freedom to their customers while accepting payments.
Integrated POS Systems: Combining your POS hardware and software is another way to process payments. An integrated POS system is typically more efficient since it is integrated with your payment processor. It leads to faster checkout times and reduces manual errors that might occur in the process.
Virtual terminals: This is a type of credit card terminal is great for handling no card transactions. Online virtual terminals secure your payment information on the webpage while processing it electronically. It enables businesses to take payments over phone and online. Since no hardware is involved or paper is involved in these transactions, it saves cost and reduces wastes.
How much does a credit card terminal cost?
The cost of credit card machines varies terminal by terminal. The processing fees can be different depending on the type of terminal you opt for. The different payment processors include processing fees and hardware fees into their pricing model.