Benefits of using card readers to take card paymentsProduct Information 21 August 2018
Nowadays it’s pretty much a given that in order to stay competitive your business needs to accept card payments. Being able to take card payments is better for businesses and customers alike. Let’s take a look at the key benefits:
- No more having to worry about carrying cash. A wallet stuffed with notes and coins isn’t exactly a convenient thing to have in your pocket. Not to mention how it ruins the lines of your suit or blazer…
- Paying for things is quicker (especially if using contactless). You don’t have to root around for the right change, nor do you have to wait for the person on the till to retrieve the correct change.
- You won’t ever have to worry about a business not having the right or enough change to give back to you.
- You can pay from your table if you’re at a café or restaurant. Card readers mean bills can easily be split, making the whole process of dividing up payment for a group dinner somewhat less painful…
- If you lose your credit or debit card it can be cancelled straight away over the phone. If any fraudulent payments were made on the card, the card issuing bank will reimburse them.
- Payments dates and locations are all recorded, meaning your monthly bank statement is a detailed financial record of everything you’ve paid for. Most high street bank have a mobile app so you can check your statements at anytime.
- By not providing a card payment option, you risk losing custom for your business. Having card readers means you’ll never have to turn customers away, any of whom could be long term or repeat customers.
- Offering card payment legitimises a business. If you display known and trusted card logos such as Visa and MasterCard at your point of purchase, it enhances shopper confidence in your business.
- You no longer have to concern yourself with providing change or making sure any bank notes you’re handed aren’t counterfeit. No more taking huge volumes of cash to deposit in your bank.
- Being able to receive regular comprehensive statements detailing what has gone through your card machines means you can easily track sales. You’ll also get a better understanding of your customers’ payment preferences.
- You can track sales on a daily basis to spot the busiest times in the week to plan staffing or other logistics accordingly.
Choosing card readers for your business
So there we have it – the case for card readers is pretty overwhelming. But to have the maximum competitive edge your business must have the right number and type of card readers (countertop, portable or mobile) to suit your business requirements. Countertop readers are best for fixed premises where payment is taken at the till. Portable readers are best for the hospitality sector, so customers can pay for things at their table. Mobile readers are best for businesses that travel to things like festivals or outdoor events.
It’s also important to choose the right number of card readers depending on the size and scale of your business. For example, it would be counterproductive to only have one card reader in a busy bar, as customers would have to stand there waiting until the one card reader became available.
Card readers with Paymentsense
If you’re just setting up in business, or even if you have an existing card reader provider you’re dissatisfied with, you might want to consider moving to Paymentsense. We can set you up with a card reader and have you taking payments in as little as three days.
You’ll also be able to take advantage of Connect, our revolutionary cloud-based technology that seamlessly links merchants’ EPoS and card processing systems. This helps boost profits, increase efficiency and improve the customer experience.
Our costs are worked out according to several factors, including the nature of your business, your annual turnover, the type of card machine you’ll need to process payments (either countertop, portable, or mobile) and the number of terminals you choose.
Card processing fees are charged per transaction and vary based on card types (credit/debit), card turnover and the nature of your business. But with over 70,000 UK business owners already with us, we are able to negotiate excellent rates with the banks that we pass on to you. If you’re interested in a fast and smart way to take payment, fill out our form online to receive a quote.