The Advantages Using a Credit Card Machine Gives Small Businesses

Whether your business is new or well established, you’re probably used to customers asking if they can use cards to complete their transactions. In a world where fewer people are carrying cash, it’s worth considering whether your small business could benefit from a credit card machine.

Why do small businesses need credit card machines?

In addition to feeding the customer desire to make purchases by card, you open your business up to impulse purchases. Few people carry cash around without the objective of making a specific purchase, which means each customer who enters your premises without cash could become a lost sale. Credit card machine transactions tend to clear faster than cheques, which enhances your cash flow processes. Finally, you can reduce the amount of cash stored on your premises, which enhances your security.

Can you still benefit even if you don’t make many sales each day?

Mobile credit card processors are particularly beneficial for those who don’t make many sales each day. Unlike point of sale merchant credit card processors, they don’t always require a merchant account, which means they’re associated with fewer charges. Such machines are also great for those who want to work in various locations, such as at trade shows and markets.

What options do small businesses have when it comes to credit card machines? 

One option, which customers and sellers alike are particularly comfortable with, is the point-of-sale system. Such systems feature swipe and pin terminals, in some cases it’s possible to use them with Apple pay, and they have a printer for receipts. In addition to working well for businesses that expect to make more than a few transactions each day, they’re great for companies that have more than one premises. They require a merchant account and the amount you pay for their upkeep and running depends on how many sales you make each month. As such, when your business starts to expand, so does your ability to process transactions.

For many small businesses, the use of a merchant credit card machine makes everyday tasks such as accounting easier. Thanks to advances in the way sales data are stored, you can transfer information from your machine. As a result, you may even save money on accounting fees.

Sources
Using payment cards for your business, nibusinessinfo.co.uk
How to Accept Credit Cards Online, In-Store or Anywhere, businessnewsdaily.com