How Credit Card Machines Can Benefit Small Businesses

As technology becomes an essential part of how well a business will do, it can be important to have a credit card machine that is up to the task of serving your customers. Each small business will have different needs from payment methods, and it can be essential for them to consider what features can help them to gain trust with customers and to keep business coming in.

Here are some ways having virtual terminals can help a small business to succeed.

It can reduce checkout times

Having to wait long periods of time in order to be helped can be frustrating for clients. If your customers find themselves waiting for longer than they should, they might start to perceive your business negatively. You might even experience customers abandoning their spots in line because they have been waiting too long. One way that customers often experience long lines is because certain payment methods can take more time to complete than others.

Smart terminals with EMV chip cards can be more secure, but it can also take longer than it would to swipe a card. However, this doesn’t necessarily have to be the case. The type of software you have for your POS system can make a big difference for how much time it can take to complete a transaction. When you have a cloud-based software for your terminal, the entire process can speed up greatly.

It can reduce your impact on the environment

For many businesses, it’s important to know that you are doing the best you can to avoid contributing to waste. Unfortunately, receipts from stores can end up using more resources than you would think—up to a billion gallons of water just in order to create paper receipts for a year in the United States. Technology has lessened the amount of paper used by creating electronic receipts as an option.

How much paper used in order to create receipts isn’t the only problem. The paper used to create them is often treated with BPA, which can be absorbed through the skin and has been banned from a number of items from baby bottles to cans. For this reason alone it can be worth it to consider ditching paper receipts and looking into implementing a virtual terminal that can send receipts online.

It increases the amount of payment methods

As online and mobile payment methods become more popular, many businesses are switching to alternative ways to receive money from clients rather than just through cash or card. Having a variety of payment methods can be the reason why a client might choose to trust your business, so it can be necessary for you to consider offering a few types. There are now cash machines available that are NFC-enabled but allow customers to pay with their Fitbit or phone.

It is likely that with time, these contactless payment methods are only going to become more popular, so it can be worth it to consider them as a viable option for your small business.

In conclusion

Credit card machines can be wonderful for small businesses looking to expand or lessen their environmental impact. Not only can it help these companies keep better track of payments, but they can also provide benefits that will solidify relationships with customers.

Guest article written by: Alex Schnee