Card machines are the go-to way to take payments at restaurants, coffee shops and small businesses alike. Not only that, but they’re an eco-friendly way to reduce your carbon footprint as well.
When selecting a machine for use at home, you’ll want one that’s both user friendly and secure. It should support chip/PIN as well as contactless payment methods like Apple Pay.
What is a card machine?
Card machines are devices used for accepting credit and debit cards at your business. They come in various forms, such as traditional hardware machines and virtual terminals.
In a nutshell, card machines collect customer payment information and transmit it to your merchant account either electronically via the internet or over the phone line. Depending on your type of business, this can be an essential piece of technology for small businesses.
Credit and debit cards are an increasingly popular payment option in both the UK and beyond, accounting for more than 50% of all transactions. That makes it essential for small businesses to be able to accept payments using a card machine.
Modern credit card machines are EMV (Eurocard, MasterCard and Visa) compliant and can read both magstripe cards and chip-and-pin cards. Furthermore, they feature NFC capabilities which enable customers to make contactless payments – just tap away!
When selecting a card reader for your business, there are various models to choose from. Furthermore, consider any necessary accessories like barcode scanners or receipt printers.
Costs can vary significantly, so it’s essential to shop around for a price that works within your budget. These expenses include the device itself, any necessary hardware or software for running it, as well as any processing fees charged by your bank.
In addition to cost, you should take into account the type of business and how much time a card reader is necessary. If your business is mobile-oriented, then a portable or wireless card reader could be ideal.
If you need to accept card payments over the phone, a contactless card reader is probably your best bet. These devices connect to a mobile network and let you take payments wherever there’s signal – giving your business more freedom and the ability to sell more goods or services.
To select the ideal card machine for your small business, assess its needs and make a decision based on those. Then you can compare options and prices available to find one that meets all those criteria.
How do they work?
Card machines are devices that accept debit and credit cards for payment to your business. They’re typically connected to the internet or phone line, sending data to a payment processor (who usually uses a merchant account) who holds funds on your behalf. Once approved by the processor, funds are deposited into your checking account as agreed upon between both parties.
Insert the card of a customer into the machine, and its barcode or magnetic stripe is read. This information includes their name, card number, authorisation code and expiry date. Afterwards it goes to a payment processor who checks its details against their database before passing it along to either Visa or MasterCard – or its network equivalent.
Data processing helps determine if a customer has enough funds for the purchase. It then requests their bank to approve the transaction, and your merchant account receives immediate confirmation that your customer has made payment for their items.
In addition to traditional magstripe reading, terminals can also accept EMV chip cards which feature a unique transaction code and offer more security than standard magstripes. While these cards are less common than their older counterparts, they have seen an uptick in popularity over the past few years.
Another type of card machine is the mobile device, which enables merchants to accept credit and debit cards on-the-go without needing access to a fixed internet connection. The device connects to a mobile network and sends and receives transaction data as long as there’s adequate signal strength.
Once a customer’s card is swiped, dipped or tapped into an ATM terminal, information is immediately sent to your point-of-sale system for processing and verification. Once verified by the processor, this network checks the transaction and forwards it on to the issuing bank for approval or denial – often done within seconds!
Which type of machine is best for my business?
Card machines are essential tools in the sales process, and they need to withstand rigorous use. That is why we design our card machines with both aesthetics and performance in mind.
When selecting the ideal card machine for your business, there are a few things to consider: what cards you accept, how frequently payments are made and where it’s located. Once we understand what those needs are, we can assist in selecting the ideal uk-made card machine to meet both those demands and your company objectives.
Most modern credit card machines are capable of accepting both contactless and traditional payment methods, giving you the flexibility to accept all kinds of payments from customers. Many come equipped with NFC technology which enables them to accept contactless payments as well as digital wallets on smartphones and other devices.
In addition to a credit card reader, you’ll also require other hardware accessories for your business. These could include barcode scanners, receipt printers, label printers and cash drawers – all designed to make the process of processing card payments faster, simpler and more efficient for your enterprise.
When selecting a card machine, it’s essential to decide between universal or proprietary models (meaning it only works with certain processors). The latter tends to be more expensive than the former but allows you to switch credit card processing companies without needing to buy an entirely new card machine.
The type of credit card machine you use can have an effect on your interchange rates, or wholesale cost per transaction. This is because different machines provide various physical and processing capacities.
When processing payments, you must consider both the type of cards accepted and how they will be processed. Swiping credit cards has long been the main method used but swiping is becoming less popular as more people opt for chip and pin systems which offer increased security.
Finding the ideal credit card machine is a major decision, so be sure to weigh all factors carefully. There are various types and brands of cards available, so reading customer reviews can help you identify which one best meets your requirements.
Which card reader is right for me?
There are countless card readers available, from countertop terminals to mobile devices. But which one is ideal for your business? Simply answer some questions about your operations and we’ll find the ideal device. It’s essential that you get it right because it could make or break your success – we even show you how to connect it to your smartphone or tablet! Having the correct device is like winning the lottery; don’t stress if you’re unsure what should go where; we make this an enjoyable and straightforward process!