A good credit card reader holds the future of your business in the modern digital era. As people ditch the use of liquid cash in their day to day transactions, credit cards are becoming a primary way of doing business. Businesses all over the globe are updating their systems to enable them to accept card payments. For this reason, for your business to grow, you must follow suit by getting your venture ready for card payments.
However, choosing the right reader for your business might be a hard decision with the current populous market where thousand and one solution providers are promising to be the best. To avoid confusion, check the following features to qualify a credit card reader as the best option for your business:
Security and fraud prevention tools
It is not dramatic that cybercrimes and online frauds are on rising in this decade. The green ground for this activity is on the POS systems and credit card readers. When fraud occurs, it leads to losses in your business. Regardless of the size of the business that you are running, security and fraud prevention tools should be your priority. As you know, the cards contain essential information of your customers.
Thus, you must ensure the information is safe and secure at all times. Ensure that the credit card reader and process meets the PCI-DSS (Payment Card Industry Data Security Standard) requirements. Also, make sure that the reader is based on EMV chip card acceptance. This way, you will be sure that your customer information will remain secure.
Ease of setup
The ease of setup equals the ease of understanding the functionalities. As you go about to searching for a card reader, you need to ensure it is easy to use. You do not need a reader that will take a week or even a month to install and operationalize. All you are looking for is a credit card reader that will enable you to start processing sales immediately. Thus, ensure your card reader of choice does not pose technical challenges to you.
The bank depositing duration
As you know, card processing is different from cash payments. Different credit card reader providers offer varying ways of depositing your revenue to the business account. For some, depositing happens after the completion of the transaction. This means you link them to your bank account. Others have a holding account where your cash is accumulated and transferred to your bank account daily, in two days or depending on the time the provider states. So, you need to consider this provision when selecting your credit card readers.
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— Sinclair Pos Systems (@Sinclairpos) 9 de mayo de 2018