Finance

How to Choose Card Swiping Machine for a Business

Before, cash and cheques were the two most used payment modes. Over time, that has changed drastically, bringing us to a whole new world of digital transactions. Today, investing in a card swiping machine is critical for all businesses.

A card swiping machine is a tool that enables card transactions and other contactless payments. These include QR code POS, NFC, e-wallet, and mobile payment. A card swiping machine is also known as a POS (Point of Sale) machine or an EDC (Electronic Data Capture machine).

While buying a card swiping machine is essential, choosing the right one can be very challenging. Card swiping machines are of different types, and their functions may vary from one business to another.

So, how will you know which one is the best EDC machine for you?

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Below are some critical questions you need to ask before making your final decision or commitment.

How Secure is the Card Swiping Machine?

Maintaining secure transactions is a top priority for all businesses. If customers do not feel safe in any way, they are more likely to avoid doing business with you. That will affect your sales and hence your profit.

When choosing a card swiping machine, never compromise on security. It is best to opt for a card swiping machine that can provide end-to-end encryption on all transactions to protect customer’s data. In addition, the best EDC machine is either EMV or PCI compliant.

Does the Card Swiping Machine Offer Mobility?

When buying a card swiping machine, you do not want to end up with a system that has too many cables or is too bulky, limiting mobility. As such, a wireless POS machine would be a great choice.

A wireless POS machine is so flexible apropos payment options and serving customers, from wherever they are, including at their doorsteps. It allows NFC, QR code POS, e-wallet, and mobile transactions, among other payment options.

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Apart from that, a wireless POS machine can also help to minimize the waiting time during checkout and eliminate long queues in your store. In addition, it is best to ensure that it has a long battery life to complete more transactions without connecting to a power source.

Can the Card Swiping Machine Do Both, Printing and Sending E-receipts?

At the end of every transaction, a customer should receive a receipt. It’s an accurate and detailed payment record of the completed transaction. Before, printed paper slips were the only option, but nowadays, you can also send E-receipts to customers by mail or SMS. This option is eco-friendly and much more convenient. When choosing a card swiping machine, make sure it can send E-receipts. However, the best EDC machine should provide both options.

Is the Card Swiping Machine Cost-effective?

Well, who doesn’t like a good bargain? We all do! Fortunately, you can get that when buying a card swiping machine.

Card swiping machines come at different prices, and their charges may vary depending on the provider. Some of the costs you might need to consider include installation, annual/monthly fees, per card charges, and so on.

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It is best to make sure you understand your business needs to choose the machine price that works best for you.

How is the Network Coverage and Connectivity?

Good connectivity is another crucial factor to consider when choosing a card swiping machine for your business. It is necessary to provide speedy transactions and avoid unnecessary interruptions during the checkout process. Hence, choose a device with high connectivity and support Bluetooth, Wi-Fi, GPRS, and even 2G connections.

What are the Additional Features?

Last but not least, does the card swiping machine have any additional features? Modern card swiping machines have features such as sim-linked detection, touch and pay option, and more. But the more advanced ones can accept debit/card transactions and payment modes such as mPOS, QR code scanner POS and UPI. They are a much better choice for your business.

Conclusion

So many factors come into play when choosing a card swiping machine for your business. But it all comes down to one thing; understanding the business requirements. So, employ the tips outlined in the post and select a stellar card swiping machine.

shrayan lakhna

Complete startup freak... Founder of Startup Opinions Expert in Google Analytics, ROI Tracking, SEO specialist, social marketing marketer.

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shrayan lakhna

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