When you’re in business, you have a lot of decisions to make. Some of them are hard – no way around it. Others can be tough if you make them, but they don’t have to be. Take, for instance, your choice in payment processing equipment. Various types of equipment, seemingly never-ending advancements in payment technology, and a menagerie of brands can draw the decision process out, but this quick guide will help you narrow down your options, so you can figure out which equipment works best for your company, and you can get busy ringing up customers.
If the bulk of your business takes place online, or if you plan to go in that direction, you’ll need to implement gateway integration into your payment processing plan. Your gateway provides a secure method for processing payments through your website. This software acts just like your manual, in-person equipment – giving you the ability to safely accept credit and debit payments, and sometimes other forms of payment, like checks, loyalty rewards, EBT cards, and Internet-based payment solutions.
Credit Card Terminals
Traditional credit card terminals have come a long way in recent years. Many offer all the perks that help protect your business, and more importantly, your customers’ sensitive information. If you have a physical location, it’s imperative to offer a safe way to pay using a variety of methods. These machines also allow you to input card information without having direct access to the card, for example, if you take a reservation over the phone, allowing for transactions over a variety of mediums.
POS systems are integrated solutions for many businesses. Each one is different, and many cater to specific types of businesses. They include everything you need, including payment processing terminals, computers loaded with specialized software, the ability to track things like inventory and statistics, and other capabilities that may be required for your industry. These systems not only connect you with your customers, giving them the ability to pay, but often allows for employees and departments within your company to gain access to valuable information that can help them do their jobs more efficiently.
Mobile & Tablet Readers
If your business is on the go, it’s a great idea to utilize mobile and tablet readers, which let you take a payment virtually anywhere. These portable devices connect to your device, allowing you to swipe customers’ cards on the fly, making payment processing easier for you and your clients.
Now that you’ve received in introduction to the basic types of payment processing equipment, you can choose what path fits your business best. Oftentimes, a business requires more than one type of payment portal – so keep an open mind as you make your decision. If you begin to accept payments through your website, will your business see a bump in sales? Talk to your Chosen Payments advisor to get expert insight into the machine that will best fit your brand, your business, and most importantly, make it easier for your customers to pay.