Credit Card Machine for Fast Payment. A Credit Card Machine which is also known as Payment Terminal, is a portable mobile device that accept cards for electronic transactions . With credit a card machine, you can make payment anywhere without carrying physical cash around.
The machine has a way of carrying out it operation especially during transactions. For example, when a customer goes for shopping or wants to make payment for services rendered, the seller will compute the total amount of goods or services into the credit card machine, then hand it over to the customer to key in his details. It is the responsibility of the customer to confirm the total amount , insert his or her card, type in their pin and click ENTER. In a situation where the transaction is contactless , the customers will be directed to confirm the total amount on the screen and tap their card on the contactless card reader.
Types of Credit Card Machines for Payment Processing
There are different types of mobile credit card machines used for electronic transactions. In this content, we will elaborate on three types of machines.
1. Mobile Credit Card Machine: This kind of machine uses mobile network coverage to carry out electronic transaction. With this kind of machines, users can easily carry out electronic transactions at ease. Mobile Credit Card Machines are mostly used by market traders and some food vendors. To operate the machine, you will need a card reader and a smartphone.
2. Wireless / Portable Credit Card Machine: The kind of machine do not need mobile coverage to function. The are portable for any seller to carry about for business transactions. They are mostly use in bars or restaurants for electronics transactions. Since the machines do not use network coverage to work, they are often connected to WiFi or landline before any transaction could be carried out.
3. Countertop Credit Card Machine: This is another machine that can help small scale businesses carry out the electronic transactions with customers. They are rated as the best for and cheapest for upfront cost as a result of their hard-wired connections. The machines do not depend on mobile network coverage nor Wifi. They are mostly used in coffee shops.
Advantage of Credit Card Payment Machines
1. They generate high revenue for business owners. In develop world these days, people hardly go about with cash these days, instate they prefer transacting business, using credit cards machines.
2. They ease one, the stress of counting money always and also reduces the stress of going about with huge amount of money so to carry out one transaction or the other.
3. With a Credit Card Machine, you are sure of a fast money transfer during transaction.
4. Using payment terminal, averts the risk of losing your money to criminals will be reduce as virtually all transactions will be done electronically.
Disadvantage of Credit Card Payment Machines
1. They do not carry out electronic transactions for free. For any transaction you carry out, using a credit card machine, you will be charged. The charges varies depending on the number of time, you carry out your transaction . The charges are program in a way that the more transaction carried out, the less charges, you incure. With this method , small scale businesses who carry out few transaction , will be charge higher.
2. Business owners run a lot of lost when it comes to do with chargeback. That is when the encounter challenges in transaction that will warrant them to refund the money. In doing this, business owners are usually charged with a fee.
3. Business owners run a lot of lost to fraudulent transactions.
Six Best Credit Card Machines for Small Businesses.
As Business owners you need a credit card machine for your small business so to enable you carry out fast transactions electronically. In this content, we shall list just six machines you can use for your small scale businesses.