When it comes to taking your business to the next level, getting a card machine is one way of doing it. As most people will not hesitate to make payments via their cards instead of cash, a card machine is necessary for any business.
Most people have embraced technology, and they don’t mind using various cards for any transaction.
Having a card machine enables you to accept all types of payments that you can think of. There are many benefits associated with having a card machine for your business.
Here are 13 benefits of having a card machine for your business.
1) EMV and contactless-enabled
Card machines are completely EMV and contactless-enabled. With the outburst of a pandemic, it has become necessary for businesses to introduce contactless methods of payment and delivery to induce customer safety. Customers feel safer with the introduction of machines, and it also helps companies comply with the corona protocols.
2) Excellent for a Takeaway
What makes these compact machines excellent for a takeaway is because these are highly portable. If you are into a mobile business, it gives you the flexibility to take it along for way payments. It enables your mobile industry with the flexibility to receive payments via cards and not restrict it to cash only.
3) Enhance the efficiency of your business transactions
When you have a card machine, your business transactions will become more efficient. When you receive payments via cards, you can immediately transfer money to your bank accounts at any time. As opposed to cash which might take days, if not weeks, before the money is in your account, this doesn’t happen with cards.
4) Enhance customer loyalty
As customers are happy with what you are offering them, they will not hesitate to recommend your products or services to their friends. When you have a card machine, it makes it possible for customers who are ready to buy from you to do so immediately. It means that they don’t have to go home and plan what to do next.
5) Increase repeat sales
When you have a card machine, it makes it easier for customers to purchase from you repeatedly. There are certain customers who avoid cash payments and prefer only cards. Now, this is only possible when you have a card machine. If your business requires repeat sales, this benefit is worth more than the others linked to not having a card machine.
6) You won’t miss any potential customers
When you have a card machine, it is possible for customers to make payment via card immediately for their unintended purchases leading to inadequate cash. It means that there are no potential customers who wish to make payment via cards but don’t because your business doesn’t have a card machine.
7) Save time and avoid the hassle of making cash payments
As most people prefer using cards, you can be sure that having a card machine will enable you to receive payments in the way that customers like. It also eliminates the need to handle cash.
Especially, when the payments have to be made in thousands of dollars, cash payments are difficult to handle. Keep your customers free from the hassle of counting cash by getting a reliable card machine.
8) Receive payments immediately
Like Cash, card payments are also received instantly and transferred to your accounts immediately. You don’t need to wait for days and months for the payments to be credited to your account. The moment a customer swipes the card, you get your payment directly into your linked account.
9) Quicker transactions
It works the same way as when you use cash because people don’t need to sign for their purchases. When they purchase your business, they enter their PIN and get on with what they do before buying.
10) Get accurate real-time records of your business transactions
With card machines, you can get correct real-time records of your business transactions. It means that when you are trying to keep track of all financial aspects of your business, this provides precise information regarding cash, credit, and debit transactions.
11) Enhanced Security
Most of the card machines are equipped with the latest technology to assure secure payments. You can be assured of authenticated payments and encrypted transactions, eliminating the risk of any potential fraud.
12) Improved Reputation
As your business offers a variety of payment options, it seems to be legitimate to your potential customers. As you offer credible and secure payment services, your customers are likely to shop with your business frequently.
13) Data Analysis
Any business can easily track the payments history from the card machine and interpret it to understand the buying behavior of their customers. This data can be further used to maintain stock, launch offers, and discounts.
Frequently Asked Questions
Is having a card machine expensive?
Well, it depends on the type of card machine that you want to buy. Suppose you wish for a simple chip and pin. In that case, this will cost you less as it comes with basic features.
However, if you want something more complex such as a versatile credit card machine that offers greater flexibility to your business, this will cost more than 100 dollars.
How do I know if the card machine I have is good enough?
Before buying a card machine, you need to consider what you want it for. For example, if you want a chip and pin machine, this will be sufficient for an online business or any business that doesn’t have many transactions per day. However, you will need something that can handle more transactions for a retail store because there are times when your store is very busy.
Can I buy a card machine online?
Yes, most people do these days. But make sure to consider all options before doing so. For example, compare the prices of different sellers and also check reviews about them if possible. After all, you don’t want to make an expensive purchase only for it not to work after a few months.
Whether you own a retail store or any other business that requires daily financial transactions, card machines are one of the best ways to handle such transactions. It is because they enable you to receive payments from customers quickly without having to wait for days as money would be in your account immediately.