7 Benefits of Using Card Readers When Accepting Payment

In today’s business world, consumers and businesses are embracing digital payments methods as a safe and convenient way to receive and make payments. The COVID-19 pandemic has also contributed to the steady decline in cash transactions due to health and hygiene concerns. For your business to stay relevant and compete favorably, you have to start embracing credit card readers and other contactless payments. Read on for seven benefits of using card readers when taking payments.

Enhanced security

One of the most significant advantages of investing in a debit card scanner is enhanced security. All payments paid via credit card reader are transferred directly into your business account, meaning payments received are secure.

A card reader also prevents you from having too much cash in your register or going to the bank to make deposits and withdrawals. Be sure to invest in a card reader with cryptographic-based processing capabilities to secure your business from hackers.

Saves time

Using credit card readers provides a smooth, quick checkout experience for your clients, and enables your staff to serve more people faster. Since the funds are also transferred to your bank account, card readers save you the hassle and time of visiting the bank to withdraw or deposit cash.

They are more convenient

Card scanners allow you to accept payments from clients using major debit or credit cards, including American Express, Visa, Maestro, and Mastercard. Using card readers also increases your chances of boosting your sales volume, as it allows clients to make impulse purchases as they are not limited to the money they have at hand.

Flexibility

Credit card readers enable you to accept payments anywhere. For instance, if you do not have a fixed location for your business, a mobile card reader can be a convenient choice as you do not have to be reliant on your clients remembering to carry cash.

A mobile card reader is also an excellent feature for busy bars, cafes, and restaurants as you can keep it at a fixed location on the counter or allow employees to carry it around the premises and take payments.

Simplified record-keeping

A credit card reader records every transaction automatically in chronological order, allowing you to easily track and examine any of the payments whenever needed from your computer. The card readers are also directly connected to your business bank account, so you also get regular account reports and statements, making it easier to manage your business’s books.

Improved your business reputation

Customers are becoming more aware of the dangers of disclosing their credit or debit card information to third parties, so they are more attracted to businesses with a robust cybersecurity strategy. Investing in modern debit card scanners provides a cybersecurity element for your business as they come with encryption features that are difficult for hackers to decipher. The quick transaction and smooth checkouts guaranteed by card readers also boost customer experience, so you benefit from customer loyalty and an improved reputation.

Improved hygiene

Maintaining proper hygiene is a priority for most customers and businesses today. There are increased health and safety implications of touching payment terminals or handling coins and banknotes thanks to the COVID-19 pandemic. Card readers provide a safer payment option as they allow for contactless payment, reducing the spread of viruses and contagions.

Endnote

Contactless payments are slowly gaining dominance in today’s business world, so you should embrace the change to remain competitive. If you are not already using card readers when accepting payments, contact a card reader solution provider to enjoy the above benefits.