If you are considering accepting card payments for the first time or seeking to upgrade your current card machine, this guide will help you set up the perfect card payment solution for your business needs.
Advantages of Card Machines for Small Businesses
Quicker Payment Process
Benefit from a quicker payment process that enhances efficiency for both you and your customers.
Increased Sales Opportunities
By accepting non-cash payments, your business becomes accessible to a growing customer base that prefers card transactions.
Enhanced Business Credibility
Being able to accept card payments contributes to a positive brand reputation, boosting your credibility as a business.
Improved Customer Experience
Offer a more convenient and seamless transaction experience, making it easier for customers to buy from you.
Increased Security
Card payments come with built-in security features, reducing the risk associated with handling large amounts of cash.
Setting Up for Card Payments in Your Small Business
To accept card payments, you’ll need to establish a merchant account. This account is where your customer’s payments ‘sit’ until the transactions are authorised. Your merchant bank or payment service provider (PSP) will handle the setup process for you.
Subsequently, you’ll require a card machine for actual transactions. The market offers a diverse range of options, and the choice depends on your budget and the specific features your business needs. Carefully consider these factors to find the ideal card machine for your business.
How to Choose the Right Credit Card Machine for Your Small Business
Countertop Card Machines
Countertop card machines are static models that are typically placed at the point of sale.
They are best suited to businesses operating from a fixed location or single premise where all card payments are taken in one place and can be ideal for small spaces as they take up very little room.
Portable Card Terminals
Unlike countertop machines, portable terminals are an excellent choice for businesses with multiple points of sale within a fixed location or for those who prefer to take the card machine directly to the customer instead of having them approach the till for payment.
These terminals are particularly beneficial for restaurant and cafe owners, allowing their staff to accept payments on the go while efficiently serving other customers.
Mobile Card Machines
For individuals and businesses constantly on the go, mobile card machines offer the perfect solution. They allow you to accept payments from your customers virtually anywhere. Whether you are a tradesperson, salesperson, driving instructor, photographer, or part of various other mobile businesses, this type of card payment solution can greatly benefit your operations.
Contactless Payments
Contactless card machines offer a fast and convenient way to process transactions of up to £45 using Samsung Pay, Google Pay, Apple Pay (with no monetary limit), and all major credit and debit cards. Customers can simply tap their card or device over the card reader’s screen, and the payment is complete. Opting for contactless payments is an excellent choice if you aim to minimise queue times and enhance customer satisfaction.
Virtual Terminal
If your preference is to solely accept card payments remotely, such as over the phone or via email (also known as MOTO transactions), then a virtual terminal is what you require. (If you also accept face-to-face payments, your existing terminal can be utilised for this purpose.) With a virtual terminal, as the merchant, you input your customer’s card details into the system, and it securely retains the payment information while the bank authorises the transaction. This ensures a safe and efficient payment process for both you and your customers.
How to Get a Credit/Debit Card for Your Business
Exploring Your Credit Card Machine Choices
To begin, it’s essential to determine the most suitable type of card machine for your business. Consider the various payment methods you wish to accommodate—whether it’s over the phone, face-to-face, via email, online, or a combination of these options.
Take into account the practical aspects of your business, such as the need for multiple machines, a portable terminal, and the ability to receive incoming orders while attending to in-person customers. Careful consideration of these factors will help you select the ideal card machine setup that aligns perfectly with your business requirements.
Selecting Your Merchant Services Provider
Having determined the method and location for accepting card payments, the next step is to choose a suitable payment provider. Take into account essential factors such as customer service responsiveness in case of issues, cost considerations, transaction processing speed, trustworthiness of the brand, and the quality of their technology.
Evaluating these aspects will help you to make an informed decision when selecting the merchant services provider that best aligns with your business needs.
Start Accepting Card Payments
With all the logistics sorted and your setup in place, you’re all set to start accepting card payments. Make sure to inform your customers about the types of card payments you now accept, especially if you were cash-only in the past. By doing so, you’ll keep them informed and make the payment process smoother for both you and your valued customers.