If you are using old debit card machines at your business you may already be feeling the burden of not using the latest technology. Over the last several years, there have been several major changes in how credit card processing and you, as a business owner, should be keeping up. There are multiple different options for merchant services and credit card processing, whether you are using a register or a point of sale terminal, such as Clover pos system.
Chip Readers: Many debit cards and credit cards now come with a chip that provides extra protection from fraud when used with a chip reader. While American cards still have a magnetic strip that can be used in places that do not carry a chip reader, European cards have completely transitioned to chip technology. If you, as a business owner, have not updated to a chip reader and a card’s information is hacked, you may be liable for the losses incurred by your customers.
Apple Pay, and Other new Methods of Payment: Apply Pay allows customers to pay by swiping their phone- not a card- over a card reader. Apply Pay essentially stores card information allowing for faster transaction. Other methods like PayPal and Venmo have also began to be popular in the retail world. But all of these updates will require a card reader that can handle these types of transactions.
It Looks and Feels Better: Today’s shoppers have become used to constantly modernizing. The arrival of sleek, new card readers has made things more convenient for both retailers and shoppers. Seeing an old, clunky credit card machine which looks like it may or may not work, can discourage customers who are concerned about security, or who have simply gotten used to seeing newer models. Most of the new card machines are also light and portable- making it easier for you and your staff to complete transactions. Most machines will also work with a variety of classic and novel payment methods.
Investing in a new portable credit card reader can certainly help ensure that your business continues to grow. There are a number of companies offering deals for business owners, so make sure you find a good price with terms that you like before signing up.