A card terminal or card machine as they’re also known, is now the most common way consumers pay for their goods when out shopping or at an event. Card machines have become hugely popular because they offer a host of benefits to both customers and businesses, which make them an easy and efficient way to pay and accept money in store.
With the vast majority of businesses taking card payments, it’s become essential for many businesses to have the option installed, to ensure customers are given a range of options when paying for goods. Using our expert knowledge of card machines, we have put together this guide on the benefits of card readers for businesses.
If you have any questions about card machines and whether they’re right for your business, get in touch with our team today on 01403 710711.
We’re proud to install a range of card machines for businesses in a variety of industries, so are well placed to help you make the right decision for your shop or company.
What is a card machine?
A card machine or card reader, is a machine which processes transactions from credit cards and debit cards. The machines contain built-in technology that reads the debit or credit card and takes the necessary information in order to accept money in exchange for the sale of goods or a service.
They’re now found in the majority of shops and businesses as most people pay by card. Recently they have become even more integral to processing payments as a result of increased global hygiene and safety needs, where handling cash isn’t the best option.
How does a card reader work?
A card machine works by taking a payment of goods from a customer. The process generally works like this:
- The merchant will input the amount due for the goods or services obtained by the customer
- The customer will check the amount is correct and either insert their card into the terminal and enter their PIN, or pay by contactless by simply tapping their chosen card on the card machine
- The merchant’s machine is connected to a payment gateway which receives the request from the card machine through a broadband or telephone line. The information and transaction details are transmitted to the merchant’s bank
- Depending on which card provider used (Visa or MasterCard) they will receive the request for the card payment and provide authorisation or decline the transaction
- If authorised, the card provider will pass this information on to the customer’s bank account
- The issuing bank account will then check there is enough funds in the account for the transaction to go through
- Finally, once this has all been verified, the payment will go through and the merchant will receive the funds in exchange for the goods
Whilst this may sound like a lengthy process, it typically only takes a few seconds to process.
Advantages of using card terminals
Customers are likely to spend more
When customers are paying by card, they’re susceptible to spending more than when paying by cash. This is because customers aren’t limited to the amount of cash that they currently have on them, so they are able to purchase more goods when in store.
Research shows that in 2017, 85% of customer payments were spontaneous, so providing a card payment option can mean an increase in sales for your business.
Give your customers more options
Each customer is different and prefers paying for goods in different ways, this is why accepting card payments is a huge advantage for businesses, as it gives customers the option to pay how they like. People are using less cash and are using cards as their preferred payment method more than ever now. Ensure you’re not pushing away business by giving your customers all of the payment options available.
Security is a big factor for most customers now, and taking card payments is far more safe and secure than only taking cash. This is the case for both the customer and your business alike; customers don’t tend to feel comfortable carrying around large amounts of cash and it’s far more secure for businesses not to have lots of cash on site all day.
Whilst there are some security issues that come along with card payments, if the business is compliant with regulations, then there is a safety net for the customer and the business to ensure they are protected against any threats.
A card payment is a far quicker process than paying by cash. There’s no need to find the right amount of cash or count out the change, the correct amount is paid straight from the card to the retailer, making it far more efficient. When paying by contactless, this process is sped up even more.
A more hygienic experience
Card payments, specifically contactless card payments are more hygienic than paying with and accepting payment with banknotes or coins. Contactless payments reduce the number of touch points between the customer and the merchant, and the card terminal itself can be easily cleaned.
Get in touch
We’re proud to be able to set up businesses of all sizes with card machines to help improve their service. Our range of card machines come with:
- No joining fees
- No online billing fees
- No minimum monthly service fees
- No authorisation fees
- No PCI compliance fees
We’re also able to offer Counter Top and Portable Models, depending on your business needs.
Want to find out more about the direct benefits to your business of accepting card payments? Get in touch with our expert team today who’d be happy to help you understand the advantages of offering this service.