Choosing a Credit Card Reader

Many varieties of credit card reader are available for today's businesses. EMV, also known as "chip and pin" or "IC Credit", is the newest credit card security feature to be implemented across the globe and with it comes new, updated credit card readers. EMV uses a small chip in the card to store a numerical pin number, which is entered into the credit card reader at the Point of Transaction.

If you live in a country that does not yet use EMV credit cards, you may wish to buy a cheaper magnetic stripe reader. This type of card reader can be attached to a standard PC using a USB connection, and are available for around $60. However, if using this method, one should remain aware that it would become obsolete should EMV be implemented by law.

If choosing an EMV credit card reader, it is important to consider which types of card you are most likely to encounter in your business. Certain cards, such as American Express in the UK or Maestro in the USA, are fairly uncommon and so you may choose not to give much importance to credit card readers for these brands. Many companies will provide you with a free card reader if you agree to use their merchant service. However, you could be signed up to their company for a relatively long time should you take advantage of this offer.

You should consider the terms of the contract before agreeing to sign up to this sort of deal. When choosing your credit card reader, it is also worth considering your own Point of Sale. Different situations can often warrant a different kind of credit card reader - for example, if your Point of Sale is a restaurant or similar setting, you may wish to choose a hand held credit card reader over the traditional wired kind. Hand held credit card readers could transmit to and from a base station, meaning that you can take EMV credit card payments from a customer's table. This could be a huge advantage as it can often be inappropriate to ask a customer to leave their table to complete the card transaction.

In conclusion, it is recommended that you consider the conditions of your business before choosing a credit card reader. Decide whether you want an EMV reader or a swipe reader, which cards you want to accept and which kind of terminal you prefer.