As your small business grows, you will find that you need more sophistication in terms of organization and payment processing in order to serve all of your customers’ needs by using best or right Credit Card Machine. While conducting cash transactions is a quick and simple way to ensure you are paid immediately, the ability to accept credit cards will help take your business to the next level. However, it can be difficult to sort through all of the information surrounding credit card machines on your own so that you can make the best decision for your unique situation. Read reviews and get details on various options so that you can take advantage of the best credit card machines for small businesses around.
Factors to Consider When Buying a Credit Card Machine
When searching for the right credit card terminal for your business, you will be faced with many of options. In addition to having new machines hit the market from a variety of suppliers, older terminals continue to be supported by processors. While it is always good to have options, there are a number of factors to consider before making your investment.
- Features – What features are you looking for from your new credit card machines? You have the option of buying machines that have features such as Apple Pay, Android Pay, Samsumg Pay which use NFC technology.
- Security – Older terminals may not comply with all of today’s PCI security standards. Not only do newer machines work faster than their predecessors, they also protect sensitive card data and have the ability to accept EMV smart cards. In addition to being able to accept credit cards, your customers will take into account the security of their transactions when deciding whether or not to do business with you in the future.
- Reliability – Buying a credit card machine or multiple machines should not be an infuriating process. The last thing you want is to buy a card reader that does not work or which takes a long time to complete transactions. Your machines should instead be able to quickly and easily accept credit card payments and work with your payment processor to remove any guesswork from the equation.
- Connectivity – Do you use a dial up line or Internet connection? Most current machines use both technologies, but when connected to dial-up your transactions can be quite slow, and you may want to upgrade to IP to speed up your transactions.
How to Know Which Machine Is Right
Once you take a look at processing and security features, how do you know which machine will be best for your business? There are a few other nuances when it comes to credit card machines that can make all of the difference, depending on the exact setup you want. What type of connection do you need for the terminals? If you are working with a higher volume and frequency of transactions, you may opt for an Internet connected (IP) machine that can deliver approval times in 1-2 seconds, instead of 5-8 seconds with a dial-up machine.
In addition, you will be able to choose between machines that have different screen types: black LCD and backlit color LCD. Finally, it is always important to weigh the cost of the machine itself in order to stay within your budget. While there are a number of combinations you can find when buying credit card machines for small businesses, Ingenico and Verifone offer solutions that work well for business by delivering reliable service and all the features you need for a competitive price. Beware of “free” machines, as they come with monthly, annual and hefty return fees, so that “free” device can end up costing you hundreds or even thousands of dollars, so beware the small print.
Ingenico iCT250 Terminal (Telium)
Versatility is the key when it comes to processing credit card payments. The iCT250 machine by Ingenico is an all-in-one countertop solution that makes the entire process easy and secure for both small business owners and their customers. This is due to the fact that the machine supports a wide range of payment types, including credit cards, debit cards, EBT, and gift cards.
At the same time, the iCT250 is prepared to accept new EMV cards that are rolling out across the country and which are already in use by shoppers around the world. EMV acceptance helps protect against counterfeit card fraud, and you can also implement tap and go technology for even faster transactions. Credit Union Times notes that, after October 1, 2015, credit card fraud liability shifts to merchants if they do not have an EMV payment system ready. Here are other features you can get with this machine:
| • Infrastructure in place to accept payments from mobile wallets, such as Apple Pay|
• State-of-the-art security for PIN-based transactions
• Ergonomic design for easy customer input
• Bright color screen
Verifone Vx520 Terminal
The Verifone Vx520 is comparable to the Ingenico iCT250 Telium . In fact, both cost the same and offer similar features. The Vx520 is a desktop credit card machine that comes with a black and white screen interface, in comparison to the color version available with the iCT250 previously mentioned. This easy-to-use machine also supports debit, credit, gift, and EBT cards, and features IP connectivity for fast transaction processing with Dial as a back up just in case.
This model is ready to accept Apple Pay transactions as well. Beyond that, the Vx520’s contactless capabilities allow customers to pay using key fobs or other mobile wallets. Other necessary features afforded by the use of this machine include:
| • No Signature option for qualifying transactions|
• Secure software authentication to prevent unauthorized applications to be downloaded by fraudsters
• Easy-to-follow instructions for use allow for streamlined staff training
Taking the Next Steps
Now that you have more information about credit card machines for small businesses, the next step is to find a credit card processing company that will work with you to achieve your goals. In addition to helping you get information on accepting credit and other cards at your small business, Leap Payments will help you find a solution based on feedback from industry professionals with expertise using various machines.
To learn more about the perfect credit card machine for your small business, and how to set up a merchant account, contact a Leap Payments representative today at (800) 993-6300 or shop online.
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