Credit card machines accept credit card payment for your business.
Pretty simple, right? If you don’t have a way to accept payment by credit or debit card in exchange for your goods or services, then… you’re missing out big time!
Deciding on a credit card machine may not seem like a big decision, but it is still a decision which must be made. And it isn’t always as simple as just picking the first one you see. There are a lot of different types to choose from, each with different features.
For instance, as of October 1st, 2015, your business is required to have the ability to accept EMV cards.
You really need to dig in and research different machines to find out how they are different from each other. Prices vary with each machine, and you obviously want something which isn’t going to put you out of business before you’re even in business.
Another thing you want to keep in mind when choosing a credit card machine is the type of business you will be doing. This may not seem like important information when choosing a machine, but it really is!
If you, like most business owners, want to be able to take card payments from something other than credit cards — like debit cards or gift cards — you need to choose a machine which is able to process those payments. As crazy as it may seem, some machines only take credit cards.
Maybe you also want to be able to take payments wirelessly. There are credit card machines for this, too.
It’s the 21st century… Every business has certain needs which have to be met to keep up with the times. Credit cards aren’t going away anytime soon, so your business has to take credit, debit, and gift card payments as well as other forms of payments being developed, such as Apple Pay.
It doesn’t matter whether you have a small business out of your home or a large business in a brick-and-mortar location, you need to be able to accept all payment forms to stay ahead of the game… and in business.
Because of the ever-increasing popularity of gift cards, chances are you will have customers wanting to use them in your store or place of business.
There are machines available which will take payments from gift cards and of course these machines will accept debit cards too. These machines can be connected to the business account so once the transaction is complete the funds are deposited shortly thereafter.
These machines are easy to set up. Just plug it in and you’re ready to go. This works especially well if the credit card machine will be in a fixed position, like next to a cash register. Simply plug it into an electric outlet and connect it to a phone line or internet cable and you’re in business!
Today’s basic credit card machines have a magnetic stripe reader, an EMV chip reader, a touch screen display and a keypad.
If you have a lot of traffic coming and going and your machine will get a lot of use, choose one with a user-friendly keypad.
You also have the option of purchasing a credit card machine which has a printer built into it and prints the receipt for your customers to sign. You can add one to an existing machine at an extra cost.
Some machines have the built-in electronic signature function, where customers sign the display pad.
Also consider the amount of memory a machine has when choosing. This is helpful if you own a restaurant, for instance, and want the servers to be able to input their tips. Or you may want to have a terminal password protected.
Do you do a lot of mobile business? For businesses who are mobile, there are battery powered credit card machines. All you need besides the machine is a wireless connection. You can even use your cell phone’s network. You can accept payments from anywhere as long as one of those is available.
These machines are pricier, but if you do a lot of mobile business it can be one of the better credit card machines for you. This, or a smartphone swiper. Maybe you are a cosmetics saleswoman who sells Mary Kay and you make a lot of house calls. You can accept payments from your customers’ homes using their wireless network.
Make sure you bring extra batteries for the machine if you are on the road for extended periods of time.
Some machines are a bit heftier than others too so check their weight before you buy them.
Of course cost is one of the most important things to know for every business owner. Luckily there’s a wide range of prices for credit card machines, each one offering its own set of features.
Generally, the more capable and feature-rich the machine is the more expensive it is. You could choose to just buy a machine outright instead of leasing one to cut costs long-term.
All the major players in credit card companies charge fees for processing payments and these fees are unavoidable no matter what machine you decide to buy. It’s up to you to check out different credit card machines, see what they can do and how they fit with your business.
Then you’re going to need a company to process those cards through. Square, Intuit, First Data, Wells Fargo and Chase are all popular options.
Be sure to check out RedFynn’s services, too. We offer unbeatable rates and super affordable bundle packages for machines, processing and an entire fine-tune-your-business solution set.
Your profits will soar! Learn more today by visiting www.redfynn.com.
