Using Credit Card Processing Machines
As credit card payment becomes far more common in the western world, it is essential that small businesses upgrade their systems to allow themselves to use credit card processing machines.
Accepting credit and debit cards will mean that your customers have more ways than ever to spend their money with you and they will not be limited by the amount of cash that they are carrying with them.
A credit card processing machine is any machine that allows you to electronically process payments by card.
Studies have shown that people are more likely to spend larger amounts of money in establishments where they are allowed to pay by card, because card payments offer them more freedom to spend.
If your business decides to accept cards, you will also have the added benefit of needing to keep less cash on the premises at any given time.
This means you will have less to risk if your business is targeted by thieves.
This also removes some of the stress involved in having to personally take large quantities of cash from the site of your business to the site of the bank.
In order to start accepting credit and debit cards, you will need a business level bank account, a good credit card processing service and a credit card processing machine.
In most cases, the processing service will be able to help you arrange the other two things.
Try to contact a service for a quote on the cost of using this type of service and to see what facilities that have available to help you.
Although there is usually a small cost associated with processing credit card transactions, processing companies are now able to offer very competitive packages due to the high volumes of card transactions.
If you explain your business needs to a card payment services company, they will usually be able to come up with a good solution for your individual business.
Different types of this card processing machine are available.
Some machines require the cashier to swipe the card then request a signature from the customer; others require the customer to type in their pin number before the transaction is processed.
The newest credit card processing machines allow the customer to pay for inexpensive items (usually under £10 - £15) by simply touching their card to the machine.
This type of technology is only available for low cost products to help prevent major credit card fraud.
The machine will read information from this card about the customer's available balance and will then contact a processing service via the internet or via phone, depending on the type of machine used.
The credit card payment service will check authorisation and automatically arrange for payment to be transferred from the customer's account to the merchant's account.
This is fast and reliable.
The card machine may struggle to read the customers card if it is badly bent or highly scratched.
However, If there are problems, most payment services have a 24/7 helpline set up for merchants to contact.
Accepting credit and debit cards will mean that your customers have more ways than ever to spend their money with you and they will not be limited by the amount of cash that they are carrying with them.
A credit card processing machine is any machine that allows you to electronically process payments by card.
Studies have shown that people are more likely to spend larger amounts of money in establishments where they are allowed to pay by card, because card payments offer them more freedom to spend.
If your business decides to accept cards, you will also have the added benefit of needing to keep less cash on the premises at any given time.
This means you will have less to risk if your business is targeted by thieves.
This also removes some of the stress involved in having to personally take large quantities of cash from the site of your business to the site of the bank.
In order to start accepting credit and debit cards, you will need a business level bank account, a good credit card processing service and a credit card processing machine.
In most cases, the processing service will be able to help you arrange the other two things.
Try to contact a service for a quote on the cost of using this type of service and to see what facilities that have available to help you.
Although there is usually a small cost associated with processing credit card transactions, processing companies are now able to offer very competitive packages due to the high volumes of card transactions.
If you explain your business needs to a card payment services company, they will usually be able to come up with a good solution for your individual business.
Different types of this card processing machine are available.
Some machines require the cashier to swipe the card then request a signature from the customer; others require the customer to type in their pin number before the transaction is processed.
The newest credit card processing machines allow the customer to pay for inexpensive items (usually under £10 - £15) by simply touching their card to the machine.
This type of technology is only available for low cost products to help prevent major credit card fraud.
The machine will read information from this card about the customer's available balance and will then contact a processing service via the internet or via phone, depending on the type of machine used.
The credit card payment service will check authorisation and automatically arrange for payment to be transferred from the customer's account to the merchant's account.
This is fast and reliable.
The card machine may struggle to read the customers card if it is badly bent or highly scratched.
However, If there are problems, most payment services have a 24/7 helpline set up for merchants to contact.