Credit card readers are essential devices for any business today, so customers can pay using credit or debit cards, and business owners can process payments safer and faster. With the popularity and demand of small business card readers, you can even set one up without requiring a merchant account or contract.
In this post, you’ll learn the overall benefits of small business card readers for businesses today, so continue reading below.
Provide more options to business owners
Credit card readers have different kinds depending on the level of sophistication or complexity of the features. Because the market is saturated with card reader options, entrepreneurs can choose the best small business card readers for a more successful business.
Here are the different kinds of credit card readers:
- Basic: Credit card readers suitable for smartphones and tablets that require an app.
- Sophisticated: Don’t rely on additional technology because the features would suffice in providing a business with top-tier credit card reader services.
Convenient mobile card readers
Unlike renting a large credit card machine, mobile card readers are the popular choice for small businesses. While the transaction fees are higher, mobile card readers or standalone car readers are quicker and easier to set up.
Here are the other benefits of using mobile card readers:
- You don’t need to undergo a lengthy application process just to set one up for your business.
- Mobile card readers don’t require minimum contracts.
- Generally more practical for small businesses because of ease of usage.
Quickly processes payments
Aside from small or start-up businesses, small business card readers can also benefit slightly larger-scale merchants. A small business card reader can support chip and PIN payments from major card providers and mobile payments, like Apple Pay, Android Pay, and Samsung Pay.
Here’s how small business card readers quickly process payments:
- Quickly boots up (only within 2 to 3 seconds)
- Process payments in just 5 seconds
- Provide faster bank processing than other types of card readers
- Get the payments deposited to your bank account within 1 to 2 business days
Promote greater customer satisfaction
Digital payment methods allow customers to pay using smartphones via mobile payment apps or using actual credit cards with ease. Because modern living is fast-paced and everything is processed online, providing your customers with a more flexible payment option promotes greater customer satisfaction.
Here’s how mobile card readers processes payments:
- Pick products from the inventory section or enter the total amount of the items
- Tap the device’s “charge button.”
- The customer can insert the card into the card reader or place it above for contactless chip.
- Payment is processed, and the customer leaves your store happy because of the fast payment processing and excellent sales service.
Excellent features for smoother business operations
Card reader providers boast of the best features of small card business readers. With these excellent features, you promote faster and smoother business operations. It means more money coming in or higher revenue for your business.
Here are the best features of most small business card readers:
- Card Payments: Be able to process chip-and-pin, swipe, and contactless payments
- Wireless: Connect to Android or iOS devices via Bluetooth
- Mobile Payments: Accept payments through Apple Pay, Samsung Pay, or Android Pay
- Instant Deposits or Next-Day Deposits: Fast way of getting your money
- Tips: Your customers can add tips
- Discounts: Easy to give customers discounts
- Receipts: Digital sending of receipts via text, email, or print using a compatible printer
- All-Day Battery: Last throughout the day with fairly heavy use.
- POS or Point-of-sale App: Accepting payments easily and giving access to more features than traditional card readers.
Minimum staff training
If you decide to use a standalone or mobile card reader, you don’t have to worry too much about preparing or training your staff on how to use one. Digital payment providers offer free training or tutorials. It means less disruption in your business operation because the training can be done after business hours or on your weekly meeting schedule.
Here are the things you’ll learn in a small business card reader tutorial:
- How to process swipe and contactless payments
- How to process mobile payments
- Validation of successful payment
- Troubleshooting common card reader issues
Conclusion
Small business card readers are today’s best payment processing partners by small, medium-size, and even slightly larger-scale merchants. The features and benefits are outstanding, surpassing traditional payment machines when it comes to reliability, speed, and even security. If you want to be successful in your business, it’s time to consider switching to a small business card reader.