Credit Card Machines for Small Businesses

Small businesses require mobile payment systems that include card readers, some of which are able to connect into a whole host of ways including iPhones and Smart phones. If a small business ventured down this payment strategy, it enables them to accept debit and credit card payments quickly. It is always worth checking that any mobile payment device is PCI compliant and offers fraud protection. Some examples of mobile payment devices include Sum Up, PayPal, iZettle and the more traditional credit card machines which will add credibility and are widely recognised in the UK market place.

If your small business is looking at a wireless credit card machine, it is good to understand the fundamental basics. A lot of businesses turn to credit card machines to support the customers who want to pay for items quickly.

If you are a small business owner and you are contemplating in investing in a credit card machine to support you in your day-to-day running, then now may be the ideal time to introduce a payment credit card machine. More and more customers are carrying less cash and credit card processing is increasing month on month; it is important to ensure you speak with the right credit card machine supplier that fits in with your business.

How to Process a Payment

A credit and debit card machine is a piece of hardware that can decipher the information held on the customer’s card and electronically transfer it the Point of Sale (POS) system that you are using enabling payment to take place and the transaction details and card information presented to the acquiring bank.Businesses will need to set up a merchant account in the first instance in order to be able to process payments.

With more and more customers looking to pay for goods using card payments, as opposed to the traditional method of cash,small businesses can run more smoothly and more efficiently with faster payment processing. Credit card machines are able to accept all major credit and debit cards including Visa, Mastercard and American Express. A wireless card machine works in a very similar way to the traditional countertop card machine where there is a magnetic strip reader. However, the wireless Wi-Fi credit card machines can be transported anywhere, providing there is a dedicated secure Wi-Fi connection available giving small business owners more opportunities and flexibility of operating their business at various locations such as shows, fairs and pop-up events. All credit card machines are able to accept and process major credit and debit cards including Visa, Mastercard and American Express and all come equipped with contactless technology where the customer simply presents their credit or debit card to the terminal providing the expenditure is below the contactless limit of £30.

What Fee Would a Small Business Pay for Their Card Payments?

A small business would need to factor in varying costs when looking to accept card payments. The costs include a monthly or quarterly charge for their credit card machine and a monthly charge keeping their merchant account active (this doesn’t apply to every acquirer). Other costs can include a minimum monthly spend, a few relating to the merchant account along with the merchant service charges. If a small business opts to have a Wi-Fi portable or countertop credit card machine, they will also need to way up varying costs for Wi-Fi, phone line and internet.

If your small business requires a credit card machine, which can commonly be referred to as a PDQ machine, it may be a good idea to explore what card machine providers there are in the UK. Card machine resellers differ from card manufacturers and it is importent for a small business owner to differentiate between the two.

Wireless Terminal Solutions’ extensive knowledge and understanding means we can support small business owners to process card payments including protection against possible fraudulent transactions whilst supplying the latest in payment technology and hardware. The payment industry is very competitive and small business owners need to choose a credit card machine provider they can trust whilst also having the latest technology that is cost effective and affordable. If you are contemplating introducing a contactless credit card machine that comes inclusive with a Chip and PIN reader and EMV technology, please contact us to learn more.

What is a Credit Card Processor?

A credit card processor is a widely discussed topic in the payments industry and is most commonly a subsidiary or third party acting on behalf of the merchant acquirer (bank) to support small business payment transactions. This relates to debit and credit card payments where the credit card processor will receive a clearing request for each individual payment in short, the processor will approve or decline the payment transaction and this is shown on the credit card machine.

A credit card processor will need to be linked to a credit card machine in order for a small business to accept and process card transactions and for a customer to make a payment for goods or services.

The main credit card machine manufacturers that are linked to a credit card processor in the UK are Verifone, PAX, Spire and Ingenico. Each manufacturer offers their own benefits.

Payments for Small Businesses

Small business owners that are contemplating or already accepting payments will have the option to accept credit and debit cards and American Express. A lot of the payment technology devised by manufacturers comes with NFC (Near Field Contact) technology and is contactless enabled meaning you can capture all potential sales and providing customers with greater flexibility.

Ingenico credit card machines offer fast, secure ways for small business owners to process credit card payments and are fully PCI compliant. Credit card machines come in varying options which include long term hire and short term hire.

Verifone aim to deliver one of the fastest credit card machines with Chip and PIN enabled technology to the UK. Verifone card machines are widely used by small business owners and are PCI compliant whilst delivering fast transaction payments.

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