At one-time card reader technology was only affordable by established, corporate brands. The technology quickly developed and soon the big hitters could bring mobile card readers to the customer’s seat and take payments in customer homes and a client’s business. Thankfully, new players have entered the market and now small to medium enterprises can get their hands on the payment technology.
If you are an entrepreneur or small to medium enterprise, you should consider a bank card reader as an essential component for doing business.
Competing with the big boys
The great thing about card readers is that they let you compete with entities that have more resources than you do. They also help you compete against your immediate competitors. In an age where your customers and clients have a range of options to procure products and services, it is important you can offer the same service levels.
If you cannot provide the customer service levels your competitors can your business will suffer.
A debit card reader empowers your business as you can now compete with all businesses in your niche.
Taking the next step with a credit card reader
Business is a nurturing process. You start out small and grow as you develop your business. You discover new markets, you deliver new services and build rapport with customers and clients as you deliver on your promises.
Card readers help you to develop your business and offer the best customer service. You also facilitate being able to get paid by a variety of sources. As card payment use increases, you could lose out on revenue simply by not having a reader.
Having a bank card reader also shows your client and customer base you are serious about your offering. You want your business to grow and you are prepared to invest in resources to do it. This goes a long way in building trust which is essential to business success.
Offering a professional service or products relies on successful brand building. When a potential client or customer wants your offering they will be cautious to do business with you until they know you are legit. Leveraging the latest technology reassures your target audience that you are legitimate and you are serious about your business.
Your aim is that people associate your brand with your offering and that you are seen as a trusted brand. If possible the best brand for your offering. Given the importance of branding and trust can you afford to be without a card reader?
The right card reader for your business
Card readers from vendors such as SumUp or not just limited to fixed premises. You can take your reader on the road and take payments from a customer’s home or client’s business. The technology works by connecting to wi-fi or a mobile network via your phone and app. Sometimes this technology is built into the reader.
This facilitates your customer and clients being able to pay by card without having to dash out and withdraw often sizable cash sums from their bank account. You can deliver your products and services and get paid within seconds. This flexibility is essential in today’s business world.
Other models feature several readers connected to a base unit. The base unit connects online and allows you to take payments from where your customer is sitting. Restaurants utilise these point of sale (POS) devices all the time to great effect. All retail businesses can benefit from these, however, enabling you to reduce payment queues and provide a smoother transaction process to your customer or client.
These little touches become important when you try to get your fledging start-up business off the ground.
Affordability of debit card readers
Card readers have become highly affordable over recent years. New players have produced quality products for affordable prices. Once you have purchased the initial equipment you only pay a small commission – often less than 2% per transaction on payments you take. Your profits will hardly notice this and your revenue streams open up now that you can take payments from any source.
Good card readers allow you to take payments from the major brands such as Visa and Mastercard and both debit and credit cards.
Your card reader your new best friend
Card readers play an essential and often unnoticed role in business. You will be able to take payments from cards and thanks to Near Field Communication (NFC) technology you will be able to take both contactless payments and payments from other devices such as watches.
The future is moving towards a cashless society and card payments are increasing year on year. Now is the time to get on board with the technology and help grow your business and stay competitive. Hesitation is not a good idea as the better more affordable card reader brands can help you get up and running in no time, providing you with the best technology and scope to grow your business.