A wireless credit card machine sitting on the check out counter of a store.

3 Benefits of wireless credit card machines

Sunday, December 06, 2015

Introducing contactless payments for efficient payment processing at your business

Wireless technology has exploded over the past decade, introducing wireless printers, internet connections like wi-fi, bluetooth speakers and more. One of the more recent advancements in wireless technology includes wireless credit card terminals. What does this mean for your business? It means that you now have the ability to accept mobile payments through a credit card reader that operates efficiently as long as an internet connection is in place.

Card payments that are wireless expedite the point of sale process, including quicker card transactions with security protections through chip card technology. Diverse payment options are critical for businesses that want to attract customers of all types. Increasingly, customers want to provide payment types that are contactless or wireless. Knowing that 80% of your business comes from 20% of your customer base, you should consider offering the most modern payment processor options available. This article will outline the benefits of wireless credit card machines and how this can transform the customer experience at your business. Fusing together speed and convenience, health and safety, and modern technology, your business will stand out from competitors and lead the industry in introducing new technology within customer interactions.

Benefits of wireless credit card machines

Old technologies common during payment processing included a receipt printer, a phone line or landline, a keypad, older processing machines, and ethernet connections. Older technologies would require more team, creating more lines and longer wait times for checkout at your business.

These days, wireless credit machines eliminate the need for additional hardware or equipment. Instead, a credit card or debit card can be processed through a POS system in just seconds. Merchant accounts can access the credit card information instantly, authorize the transaction, and complete the sale due to near field communication (NFC). NFC connects electronic devices that are close together so that they can communicate, process, and integrate a contactless payment. NFC enables the transaction to not only be done securely but also efficiently so that employees can complete transactions as quickly as possible.

Below are three of the benefits to consider for implementing wireless credit card machines at your business:

  • Expediting the checkout process. Instead of having to worry about card input or a slower credit card processing with magstripe technology, wireless credit card machines offer speedy checkout experiences for customers. When using an EMV or chip card (as many retailers and merchants now take), customer data can be processed much more quickly and with additional encryption options. These types of payments are more secure because there is an added layer of security with tokenization. Tokenization disguises the account information with a unique code for each transaction a customer completes. All of this happens almost instantaneously. With credit card payments moving more quickly, employees can focus on interacting with customers and providing high quality customer service.
  • Make sales anywhere at any time. Wireless credit card processing works as long as an internet connection is available. Because of that, small businesses with wireless payment capabilities can set-up shop anywhere to meet with customers. This provides a diversification opportunity for your business; you can attend pop-up shows, retailer events, or markets with new customers. Many wireless credit card machines include a touchscreen or iPad that is easy to transport and easy for customers to use during mobile transactions. Better yet, sales can happen with a variety of payment methods, including Visa, Mastercard, mobile credit cards, Apple Pay, iPhone, or Android-based payment options. Better yet, your POS system doesn’t just function as a sales tool; you will be able to track customer information, sales patterns, and inventory management systems with your wireless credit card system.
  • Enhancing operational efficiency. Tap to pay technology requires less training and back-end support on the behalf of the employer. Whether connecting via bluetooth or other type of wireless connection, your POS system can do most of the work when it comes to the actual payment transaction. With a plethora of wireless credit card options available on the marketplace, you can choose the system that fits your business needs, offers the most functionality, and aligns with the price point best for your company budget. The biggest value add will be the efficiency that you can not only complete the sale, but move through daily workflows.

Overall investment into your business

As you consider the benefits of speed, efficiency, portability, and cost savings from the addition of a wireless credit card terminal at your business, you can also consider how customer engagement can shift at your company. 70% of customers note that long checkout lines are a huge pain point in shopping with certain retailers or businesses. By eliminating this, you are directly benefiting the overall customer experience and reputation of your brand.

Of course, finding the right wireless solution for your business may take time and extensive research, especially if your business also includes an e-commerce component. You will want to find a wireless POS system that can support any type of customer with a diverse range of payment methods. As you research the market, be sure to attune to what is most important for your business. Are you looking for the fastest system? Are you looking for a minimalistic system with sleek hardware? Are you looking for data analysis features that can help you track your business sales patterns? Knowing the most important aspects of a wireless credit card machine will help you make the right choice for your business needs.

Next steps

Are you ready to integrate wireless credit card terminals at your business? Are you ready to expand the merchant services you currently have in place at your company? Are you ready to take your payment processing and customer experience to the next level?

Heartland is ready to help.

Heartland helps nearly 1,000,000 entrepreneurs make and move money, manage employees and engage customers with human-centered technology solutions that allow them to rise above the daily grind and lead their businesses into a brighter future. Learn more at heartland.us