Did you know that all the credit cards on earth laid end to end would circle the entire world 3.5 times? With over a billion credit cards in circulation around the United States alone, it would be fair to conclude that credit cards have grown into a key component of our current economy. Accepting card payments are essential for any business in this day and age, but how can we pick the best credit card terminal for our business?
While cost and ease of use would be the main factors taken into account when picking the appropriate credit card machine for your business, advancements in technology have spawned a series of affordable and efficient terminals in the market, boasting a plethora of useful features appropriate for a wide array of different businesses.
In this article, we will delve into the different features you should look out for when picking the terminal appropriate for your respective businesses.
Ease of Use
Complicated credit card terminals would result in inefficiencies and frustration for both the staff and customers. The main consideration when picking an appropriate terminal would be picking a terminal that is easily accessible and useful for everyone using it.
Sales revenue is a key component in the continued success of your business. Ensuring that the terminal you pick is reliable enough to receive payments with little to no difficulty would be essential in ensuring that you never miss a payment.
Your credit card terminal should be capable of receiving an array of different payment methods. With most customers going cashless, using NFCs on their mobile devices and EMV chips in their respective cards, acquiring a terminal that can support as many payment methods as possible would go a long way in improving the quality of your service.
Ability to Print Receipts
Certain businesses rely on issuing receipts in their daily operations, and hence you should pick the credit card terminal appropriate for the respective needs of your business. Certain terminals come with a built-in printer, whereas others may need to be connected to a separate printer to issue these receipts.
When considering the cost you should pay for the appropriate credit card terminal for your business, you should take two key considerations into account: hardware costs and processing costs. What do these two different types of costs entail?
Hardware costs include the price of purchasing and leasing the terminal itself, along with any additional accessories needed for it to function such as scanners, chargers, and receipt printers.
Processing costs however constitutes of separate fees such as startup fees, monthly fees, refund fees, and many more.
When considering the costs of your terminal, do take into account the current resources and fees available or exempted from your business.
Payment Made Easy
Every business is unique, and there is no definitive “best” when picking the credit card terminal for your company. The best machine for your business should be the terminal that best fits the respective needs of your company.
At Millennium Payment Systems, we provide our merchants with the most advanced and cost-effective payment solutions in the market. Contact us to find out how we can maximize your company’s potential!