In the business industry, the methods of payment have been modernized through the use of credit cards and debit cards. On the other hand, credit card manufacturers launch various kinds of credit card reader which is used to validate a card. The latest credit card, EMV, has been introduced today and included elements to prevent credit card fraud. EMV, also known as Chip and Pin, has a built-in micro chip in the corner of the card which holds valuable information. It is only the credit card reader that can read the card and validates it. After the card is confirmed, the buyer enters a pin number which helps the shopper feels safe and secure throughout the transaction.
For those of you who have limited access to EMV credit cards may opt for a less expensive stripe reader for about $60. With the use of USB, you can use this card reader through connecting it to your personal computer or laptop. But, due to increasing positive feedback of the use of EMV credit cards and the news of declined reports of credit card frauds, there is a great possibility that magnetic stripe reader would soon be abolished.
When planning for the exact service you offer for your payment transactions, it is wise to contemplate and acknowledge the possible credit cards used by your potential buyers. If possible, avoid the use of uncommon credit card brands such as American Express or Maestro. Oftentimes, you are offered with free credit card reader from excellent companies as long as you agree with their proposal and other services.
It is wise for a shop owner to examine a contract before agreement is made to be certain how a deal can affect your business. Whatever Point of Scale you choose for your business (it may be a retail industry, hospitality industry or restaurant business) your customers should always be convenient to pay during checkout. It is like they are guaranteed safe and secure throughout the payment process. For example, for your hotel business you sign up for a credit card reader which could receive charges and transactions anywhere from the dining room to guest room. This gives your customer better service and convenience since it save them time to get the transaction done at the reception’s desk.
As a merchant or as a store owner, you decide which card and terminal you feel it best for your business. Listen to advices from qualified entrepreneurs and do research for excellent companies who have exceptional reputation before you choose your credit card reader.