The UK’s first credit card was issued in 1966, and debit cards became available to the nation in 1987. Since then, PDQ machines (short for ‘process data quickly’) have become the norm. Last year, the British Retail Consortium revealed that debit cards had officially conquered cash to become the most popular way of paying for goods and services. That’s a lot of card payment terminals getting a lot of work.
As more businesses adopt card payment technologies, more people can pay by card, fuelling a cycle of growth and boosting customer expectations. The UK Card Association reports that 14.8bn transactions were made by card in 2016, which amounted to more than £647bn in sales.
In short, your customers are likely to expect a card terminal – and for those transactions to be effortless. Learn more about the benefits of having a PDQ machine for your small business. We’ll outline why you should take card, so you can maximise profits and improve efficiency.
Get ahead of your competitors
If your competitors are accepting card payments, it’s a sure sign that your specific customer base considers it to be a convenient feature. Don’t let your business fall behind.
Giving your customers the option to pay by card means you can get on equal terms with your competitors, or even get ahead of the game and offer another reason why people should choose to shop at your establishment.
Improve the speed and efficiency of your service
Beyond making things easier for customers, PDQ machines can make your life easier, too. Day-to-day transactions can be processed quickly and smoothly, especially with the option for Contactless payments, Apple Pay, and Android Pay. And swift transactions lead to shorter queues (and happier customers!).
Taking card payments can also improve your admin routine – you won’t need to go to the bank to deposit cash as often, and you can monitor and track your sales activity through an online dashboard.
Boost your business finances
PDQ machines process payments quickly and securely, so you can benefit from a better flow of income. A merchant account is designed to settle payments and transfer funds to your business account quickly, so you no longer have to worry about waiting for cheques to clear or spend time billing customers.
While card machines do come with some fees (usually a terminal rental charge and transaction fees), the overall cost of running a PDQ machine is usually much smaller than the profit you could make by having it as an option for customers.
Some experts even argue people are more likely to make purchases using a debit or credit card as opposed to cash, and so simply having a card machine could also help to boost your sales. To put it in plain terms, the profit will outweigh the running cost.
Peace of mind for you and your customers
The advanced security technology that card machines have in place means both you and your customers can rest assured that your transactions are processed safely. Top-level encryption and anti-fraud systems lower the risk of debit and credit card fraud, so everyone’s information is protected.
Taking card payments also reduces the amount of cash you have on the premises, along with safeguarding you against losing money due to faulty cheques.
Satisfy your customers
PDQ machines are popular for a reason – customers can buy things without having to worry about if they have the cash, making it much easier for them to shop. And the widespread use of card terminals in high street establishments and niche businesses alike means that people now expect card to be an option. So don’t let them down!
Having a card machine means you can meet customers’ expectations and provide a better experience. It’s much more convenient for them to use your services and can help build their confidence in your business.
What are the different types of PDQ machines available?
There are different types of card machines available, so you can choose a model that suits the way you run your business:
- A countertop card machine is a popular option for shops, as it sits conveniently on the sales counter and can be connected to your broadband or phone line.
- A portable card machine can be used anywhere on your premises up to 100m from its base, so you can take payments directly to your customers.
- A mobile card machine connects to the mobile network, allowing you to take payments from anywhere in the UK.
How much does a PDQ machine cost?
The overall cost of running a PDQ machine will depend on your provider, but there are typically two main fees:
- A terminal rental fee, which is usually a small amount that you’ll pay monthly.
- Transaction or merchant fees, which are either a percentage or a flat-rate, depending on your business.
Our experts will be able to give you a better idea of how much a card machine will cost you, based on your specific business operations. Get in touch today for more information.
It’s easy to enable your business to take card payments – with Paymentsense, you can have a PDQ machine set up in as little as three days. Find out everything you need to know about accepting card payments and get your free online quote today.