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Chip and pin machine solutions for small businesses
Why does your business need a chip and pin machine?
Any business that want to transact and take payments will benefit from having a chip and pin machine. In the cashless society we are living in today businesses understand they much accept card payments. A card machine allows your business to process payments efficiently and securely in person, on the go or over the telephone.
How are funds received from chip and pin machines?
Chip and pin machines work much like the checkout person at the grocery store. They handle the customer’s credit card and process the transaction but they don’t hand over the funds to you themselves. Rather, chip and pin machines work by transferring a credit card’s information through a secure network. The issuing bank receives the request for the transfer of funds from the credit card account to the merchant account. The request is then approved (as long as the credit card is active with available funds). The funds are then transferred from the issuing bank to the merchants bank account, via a network that is setup through a merchant account.
Does my small business need a chip and pin machine?
Chip and Pin card machines are in very high demand and are a must for any business that want to take payments! Unless a business is online processing credit card transactions via an online payment gateway a chip and pin machine is needed. Millions of businesses worldwide use chip and pin machines to ensure they never lose out on customers. The top chip and pin machines manufacturers include Verifone, Hypercom and Ingenico. Recently mobile chip and pin machines for small businesses have become popular. They are provided by companies such as Izettle, Sumup, Paypal Here and Square.
What types of chip and pin machines are available to small businesses?
While most chip and pin readers look alike, not all are alike in how they function! The most basic of chip and pin machines simply process credit cards with no fancy features. Higher end chip and pin machines come with plenty of capabilities. Features include accepting contactless payments, customer cash back, refund and gift card processing. Today’s chip and pin machines are better than ever. They run on batteries, connect by wireless, send information in seconds. You can even accept payments with the use of your mobile or tablet device.
Why should I get a chip and pin card reader for my small business?
If your business plans on accepting credit card payments you will need a chip and pin machine. Card machines are cost effective, affordable and durable. Without a credit card machine you may turn away valuable customers. Also you will give the impression of cheapness and inconvenience. Today’s consumers seek convenience and efficiency wherever they can find it. Your business should definitely jump on the bandwagon and accept card payments through a chip and pin credit card terminal.