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If you’re a small business owner, then you’ve likely ascertained that you will need a way to accept payments from your customers. You might still be in the process of browsing merchant service providers and choosing a payment processor, or you might be a seasoned pro looking to update your old machine.
Whether or not you've given some thought to the most efficient credit card terminal for your customers, the point-of-sale equipment you choose has a direct effect on your business operations and your customer user experience.
So let's look into the features of a wireless credit card machine and the benefits to your business (plus how they work, of course) and see if it really is the cat's pyjamas.
The ultimate guide to accepting credit cards.
Discover essential knowledge and industry insights to increase your bottom line.
So, what is a wireless card machine and how does it work?
The key is in the name: wireless. And it refers specifically to the terminal or card reader the business is using to process contactless payments (like Apple or Google Pay) using Tap, Chip and Pin, or Swipe. Wireless transactions refer specifically to in-person payments only.
For context: In-person payments can be made on a mobile POS system such as an Ipad or tablet, a phone, a wireless card reader, or even a traditional desktop register.
Wireless smart terminals and card readers use either Bluetooth or radio frequency (RF) technology to transmit data wirelessly. When using Bluetooth, the device must be within range of the card reader, typically around 30 feet. RF devices, on the other hand, can transmit data over longer distances, making them a good choice for businesses that move around frequently. Once the information reaches the terminal, it travels through the payment processor much the same way as other credit card processing systems work.
To get started with wireless credit card processing, businesses will need to sign up with a merchant account provider and purchase a compatible device. There are many merchant account service providers who offer wireless processing solutions, so it's important to compare features, pricing models, and prices before making a decision. Once everything is set up, businesses can start accepting payments anywhere, anytime.
Read: How to Choose a Merchant Service Provider in 2022
What are the benefits of a wireless credit card machine?
Wireless card machines are a convenient way to accept in-person payments on the go. Using a wireless credit card reader, businesses can accept debit cards and credit cards through a magnetic stripe, chip and a pin pad using EMV technology, or tap for contactless payments and digital wallets like Apple Pay. This way, small businesses can process transactions without being tethered to a computer or a phone line.
These POS systems are often the best credit card machine option for small businesses that operate in outdoor or mobile settings such as mobile vendors, contractors, outdoor event planners, and home-based businesses.
Whether online, in-person, over-the-phone, keyed-in, you need a variety of payment tools in your toolbox from Virtual Terminals to wireless credit card processing.
Some of the main benefits of these credit card machines include:
1. Increased Sales
Mobile credit card machines enable you to take your business on-the-go, without clunky POS equipment or being tied down to a countertop
2. Reduce fraud
Another benefit of mobile credit card machines is that they can help to reduce fraud. This is because since they have the physical credit card terminal, businesses can require customers to present their physical card and enter their PIN number when making a purchase, which helps to ensure that the customer is authorized to use the card. Additionally, businesses can employ card-present best practices to spot fraud before it happens, another added advantage of in-person mobile transactions.
3. Increased Efficiency
Mobile credit card machines can helo you to take payments quicker than following up with invoices or keying in transactions when you are on the go. This lets customers pay via debit or digital wallet such as Apple Pay as well, giving them greater flexibility and a faster checkout process.
5. Reduced Costs
Another benefit of mobile credit card machines is that they can help to reduce costs. This is because businesses do not have to invest in the whole getup of a traditional point-of-sale system, such as registers and screens. Additionally, these transactions typically qualify for lower rates than keyed-in transactions or invoicing. Plus you will save yourself the hassle of chasing down payments later when you get back to the clinic or store and as we all know- time is money.
Mobile vs. Wireless credit card machines
Both of these methods allow your business to take payments without being plugged into a register at the counter, so in that sense they are both technically mobile. However, they are really referring to the POS terminal whether it be a phone, tablet, computer, or a wireless card reader.
Mobile POS systems are often synched with an app to process payments through WIFI. Wireless credit card terminals look just like any other card reader and can sync up to a POS system or process transactions on their own without any other POS equipment or WIFI. They can even print receipts on the spot, so they are perfect for taxi drivers or pizza delivery personnel.
The benefits of using a mobile credit card machine
According to a statistic concluded by Retail Consulting Partner in 2020, 46% of retailers don't utilize mobile POS to process their transactions. That's nearly half of retailers still relying on desktop or stationary POS terminals and missing out on all the benefits of wireless credit card processing.
1. Increased mobility and flexibility
When we think about industries like restaurants with lots of foot traffic and multiple POS interactions with each waitress and multiple tables, it becomes clear how vital mobile checkouts become.
Bringing the bill to the table, skipping lines at the register, and sealing a 20% gratuity tip with a genuine smile and thank you is made possible with a mobile POS system and wireless credit card processing.
2. Easier and faster transactions
Another company that makes the most of wireless card processing? Apple. Each sales associate is armed and ready for the sale at every genius bar appointment with a wireless card reader so they can process any payments that come their way- no need for a long line on top of long store lines and elusive appointments. They nip this extra step right in the bud and keep traffic flowing in and out without additional points of contact.
3. Improved security
Wireless credit card processing is a secure way to process payments, and it offers a number of security benefits over traditional methods. For one thing, wireless systems are not susceptible to the same kinds of eavesdropping that can occur with wired systems. Wireless credit card processors typically have security features that protect against fraud and credit card skimming, such as encryption and tokenization. This means that even if a criminal were to obtain your credit card information, they would not be able to use it to make unauthorized purchases. Wireless credit card processing can therefore give you peace of mind knowing that your payments are being processed securely.
Furthermore, most wireless credit card processors still offer users the option to enter a PIN to authenticate transactions adding an extra layer of security. Overall, wireless credit card processing is a very secure way to accept payments, and it offers significant advantages over other methods.
4. Increased customer satisfaction
What's not to like about shorter lines (or skipping checkout lines altogether?), mobile checkouts that allow your favorite businesses to operate remotely wherever you are, and overall a more flexible, fluid checkout experience?
Not only do wireless credit card processing systems make the checkout experience more fluid for your customers, but it allows you to reach your customers wherever they are, and reshape your business model to reach new customers, places, events, and more.
Is my mobile device compatible with a credit card machine?
The short answer is it depends on your card machines. However, most card machines can hookup to your mobile device through Wifi or 4G. If you are considering a new credit card machine, ask your payment processor if your phone is compatible just to be sure.
But did you know that phones can become the best credit card machines for some small businesses? Skip extra point of sale equipment and card machine — you can accept credit card payments on the go through the virtual terminal. You won't be able to process the same card payments as a card reader such Tap or the pin pad to insert cards, but you will be able to key-in credit card transactions. Just keep in mind these types of transactions usually qualify for different processing fees and might be a few more cents per transaction. This method is ideal for those small businesses who are on the go or aren't ready to build up their entire pos systems.
The best credit card machines: Are they wireless?
The pressing question: Is it time to get setup to start accepting wireless credit card processing at your business?
The answer: It probably depends on your business needs. It might not be a need-to-have if you are a stationary brick and mortar countertop business, however for contractors and vendors for example, there may be too many benefits for you and your customers to pass up. With increased mobility and flexibility, faster and easier transactions, improved security, and more satisfied customers, what's not to love? Sure you can get by with your old one, or even get started with a simple card reader that get's the job done, but at the end of the day we all know how the best card reader's can make or break your customer experience and be an extension of your professionalism and branding.
