Best Card Machine For Small Businesses. The world is becoming more and more cashless as technology has improved over the years. Businesses need card machines to facilitate the transactions from customers who wish to pay with cards.
A credit card reader is a device used to process payments. When a card is swiped, dipped or tapped the reader collects the card holder’s data, process it and send it over to a payment network for approval.Â
1) Takepayments
Takepayments is a popular merchant services provider in the SME sector of the United Kingdom. This card service provider has a lot of products like card terminals, electronic point-of-sale, App based payment products etc. Their consultants are always available to create a solution to your business transaction problems. Their services come at no set u fee and can be ready in 24 hours.
2) Square
Square is a digital payment processing provider which prides itself in being able to cater for all business transactions no matter the size. It is portable as it is small enough to fit into a pocket. It accepts chip and Pin, Applepay, Samsung and Android pay etc.
This machine accepts payments through the square app which is available on Android and iOS devices. The transaction fee ranges between 1.75 to 2.5%, and the cash will reflect in your account within 3–5 days.
You do not need to have a credit card before getting one. It is easy to acquire as you don’t have to enter contractual agreements or long term commitment. They also offer real time sales reporting and analytics. However, the square card machine is not user-friendly. Their phone support is not available 24/7.
3) Izettle Reader (now Zettle)
This service provider is popular in the United Kingdom. It’s simple to set up and use. The izettle card reader processes payments through the izettle app. It links to your app by connecting via Bluetooth to your mobile device.
It accepts both chip and Pin and contactless. The processing fee is 1.75%. It has no monthly costs and it has affordable rates. It also supports over 25 major currencies. On the other side, it offers no customer support on weekends. Their e-commerce services are only available via additional third-party integration.
4) PayPal Here
PayPal Here card machine has stood the test of time and therefore has become a brand name in financial transactions. PayPal is an online payment service provider and has simplified mobile card payments.
The payments are made directly into the PayPal account of the merchant immediately, but if the merchant wants to transfer money directly into a bank account, it will take 3—5 business days to reflect. The transaction fee depends on the total value per month.
5) Worldpay Reader
A merchant who desires a card machine with low transaction fees, Worldpay Reader is a good option. It is however, expensive to purchase, but there is an 18 month rental contract available. Merchants can leverage on this rental contract and still enjoy the services provided by the card machine.
The exact fee the merchant is made to pay is determined by such factors as turnover per month. This machine allows payments via Visa, Mastercard, Applepay, Samsungpay etc. Transfer into bank accounts take up to 3 days to complete. This app accepts payments over the phone send out payment links and send invoices through email.
6) Shopify
This is one of the cheapest card machines with a fee of 1.7% per transaction. There is also a monthly fee of £7.
7) Barclaycard Anywhere
This is a basic payment app with not much of the other useful features available as in other payment channels with its fee set at 1.6%
8) Sum up Air
Sum up offers a pay-as-you-go financial solution. This means that if you do not use it, you will not be charged. This card machine is very economical as there is no set up or delivery fee attached to it.
You simply purchase the machine and then you will be charged 1.69% per transaction. This machine has all the basic functions needed by everyday business via the sum up app. It caters for both PIN and contactless card payments.
Just like in other cards, it takes 1—3 days for transactions to reflect in bank accounts.
However, there is no provision for customer support on Sundays. The payout time is longer than other machines. This card machine is not suitable for businesses with a larger sales volume.
9) Ingenico iWL 251
These are fully mobile machines used for all business transactions. They accept payments from all major cards through PIN and contactless payments.
10) Mypos
This is the newest card readers in the United Kingdom. It charges a flat rate of 1.75% per transaction.
11) Ingenico Desk 5000
This is a new Era of credit card machines for small businesses. This card machine handles all payments including Apple and Android pay. It also accepts all major card types.
This machine offers security to customers because their operating system is Telium. This card machine is user friendly. But, it does not have phone based customer support. Besides, the pricing information is not readily available.
Which Credit Card Reader Should I Use For My Small Business?
It is good to note that no single reader suits every business type. You need to consider your business needs and search through the different card readers and find out the one that best suits your business needs. You can tailor it down to the following;
1) The Nature Of Your Business —Online Or Offline: People who sell online needs a mobile pos app that supports e-commerce. A shopping mall or outlet will consider a countertop credit card machine. A bar or restaurant can also consider a portable mobile card machines that customers can use to make payments on their tables and booths.
2) Monthly Processing Volume: Determine the volume of your monthly transactions. A higher volume merchant will benefit from a mobile reader that comes with your own merchant account.
3) Your Budget: You need to determine how much you are willing to spend on acquiring card machines. You should also consider the monthly charges as well.
4) Your Industry: As a merchant, you need to understand your industry. You need to know the peculiarities associated with your industry.
The Types Of Card Machines
1) Mobile credit card machines: These are card machines that are easy to carry about. It is usually small and can function without a Wifi connection, or power source.
2) Countertop credit card machines: These cannot be moved from place to place. They are made to be fixed at a spot in your business premises. They need power and internet connections.
3) Portable credit card machines: These are usually battery powered and can connect to your Wi-Fi. They are used by bars and restaurants to take payments at customers’ tables.
How To Choose An Ideal Small Business Card Machine
Choosing a card machine or reader for a business is germane to the success or failure of payment process of your business. A good card reader should be able to :
A) Be User Friendly And Accept The Payment Methods Your Customers Use: This means that not only will it accept popular cards; it should be able to tokenize credit card information e.g Applepay.
B) Suited To Your Business Volume: These card readers are made for different transaction volumes, so choose the best that can carry your transaction volume.
3) Be Cost Effective: The card readers are usually not expensive, but the terminals are quite expensive. Therefore, choose the terminal that is most cost effective.
How Much Does It Cost To Use A Credit Card Machine?
The processing fee of most credit cards is usually 1.5% to 3.5% of each transaction.
Contactless card reader or machine: Contactless card readers or machines are smart card readers that use radio waves to communicate with a smart card. They can read and write data on a smart card. You use the card, by simply tapping the card on a contactless card reader.
How To Use A Contactless Card Reader
Locate the contactless symbol on the card reader. This is usually a four curved lines that appear like a Wi-Fi symbol. Also make sure that the card reader is contactless enabled one. The card reader should have the symbol on it.
At the point of making payment, hold the card within 1 or 2 inches of the contactless symbol. If the transaction is successful, you will receive a confirmation.
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