How Credit Card Processing Machines Are Changing Business

Credit card processing machines have changed the way merchants do business

, streamlining the payment process and allowing customers to make efficient purchases with a quick swipe of the credit card, no matter where they are. As today's consumers rely heavily on credit cards and debit cards for convenient payment, whether making a large or small purchase, the need for advanced, secure and easy-to-use credit card terminals has also increased. Read on to learn how credit card processing machines continue to change the way people do business and make payments.

Accepting Credit Cards for Business:

Nowadays, consumers are carrying less cash and relying more on their credit cards and debit cards. Credit cards allow customers to pay for large purchases upfront and complete the payment over time in smaller increments, while debit cards allow them to pull funds directly from their accounts. Consumers have come to expect this convenience and flexibility when making purchases and managing their budgets, and with secure credit card processing machines, merchants can accept credit cards for business efficiently for improved customer service and increased profits.

Traditional Credit Card Processing Machines:

There are many different types of credit card terminals, each designed with specific functions that benefit various businesses and industries. However, the basic credit card processing machines has a simple design. Traditional terminals are designed to read and process credit cards' magnetic stripes, which contain card data such as account number and credit card limit. Credit card machines have a magnetic stripe reader, a keypad and a display screen. Some business may choose item-specific keypads and larger screens for more efficient transactions. Other features include printers, PIN pads and check processing capabilities.

Wireless Credit Card Processing Machines:

With the rise of wireless technology, wireless credit card terminals have become commonplace for merchants making transactions on-the-go. Wireless terminals are ideal for accepting credit cards outside of a brick-and-mortar facility, and are often used by taxi drivers or service and delivery workers. Wireless equipment can also be used at trade shows, allowing merchants to make efficient, secure transactions anywhere they go.

Security and PCI Compliance:

Credit card fraud and identity theft are very real issues that come with devastating consequences for both cardholder and merchant. While consumers must deal with the loss of funds and breach in privacy, merchants face heavy fines for compromised data. PCI compliant security features help protect customers and merchants, reducing the risk of credit card fraud. For example, end-to-end encryption keeps data encrypted during the entire transaction, from the point of the swipe to authorization.

by: Julie Henaghan

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