Credit card machines are one of the most common payment options we come across as consumers. They are easy to use, quick and we don’t have to think much about the process. Most of the time, we simply swipe the credit card, enter the number, and secretly hope that no one distracts us by initiating a conversation. We only care about the decreasing or increasing numbers in our checking account.
However, things are different for a business owner. To them, credit card processing plays a very important role in maintaining the bottom line of their business. If you’re a novice, there is a lot to learn and understand.
At the time of exploring the credit card machine and their processing, you might also need to pick up a few credit card machines for your business, and this where the real challenge arises. While you search, you might come across different types of machines, terminals, smart terminals, and POS systems. But don’t worry, in this article, we will discuss each and everything about credit card machines, their types, how they work, what to look at while buying them, and so on. This guide is going to be very useful, so make sure you read it till the end!
How To Use Credit Card Machine
Credit card machines are designed to accept payments using credit cards. They are pretty simple to use. While the mode of operation of each machine varies depending upon its type and brand, most of them operate on the same principle. Here is a step-by-step procedure to use a credit card machine :
Step 1: First things first, you need to swipe your credit card through the machine. Most machines have an icon or a sign which guides you to swipe your card through a small slot known as the “reader”. If you don’t have a credit card in hand or it is a phone order, you have to select the “sale” option which is also marked as ‘1’ in some machines. This will be followed up by a screen where you’re required to fill up your card number and expiration date.
Step 2: Enter The Sale Information. Once you’ve entered your card details, you’ll be prompted to enter the sale information in dollars or cents depending on the country you’re living in. Simply, enter the amount using the keypad and make sure to double-check it. Press enter if everything is alright. If you’ve entered the wrong amount, press clear or delete to enter again. Once you hit “Enter”, you’ll be asked to enter details like your zip code or the order number, input that as well.
Step 3: Now, wait till the sale gets processed. The time a sale takes to process may vary depending on the connection and the type of machine. It may take a few minutes. However, if your payment has stuck, never try to repeat the process, instead call the processing company and follow their instructions.
Step 4: Get the receipt. If the customer is available, ask them to sign the receipt to make sure everything goes approved and smooth. Give them a copy of the receipt and keep the original one yourself for the records. If the customer is not available, mention that on the receipt and send the copy along with the shipment of their goods.
Step 5: Close the transactions or batch. Make sure to cross-check this with your processing company. Most companies require the users to run a batch report every day to close the transactions. This process hints at the processing company to finalize the transactions and deposit the received balance into your accounts. Most machines come with a “batch” key. You can hit this key at the end of your day to close the batch.
Types Of Credit Card Machines And Terminals
The types of credit card machines and terminals that are available have increased rapidly over the past few decades. Below are the most common machines that are available today :
As the name suggests, these machines are connected to the internet via a wired or physical connection such as a telephone line or an ethernet. These machines are available in all shapes and sizes, they can be a few inches long, may or may not have a keypad.
As opposed to the traditional credit card terminals, these machines are connected to the internet via Bluetooth or a WIFI connection. These devices are more easy and convenient to use than the traditional terminals as you don’t have to deal with the wire clutter. Plus, they offer better speed as well
Smart terminals are the most used devices these days. As compared to the traditional terminals, these machines have more processing power and better features. The difference between a traditional terminal and s smart terminal is very much like the difference between a telephone and a smartphone.
Finally, there are integrated credit card machines that offer complete payment solutions to the business. They’re usually a combination of hardware and software. The POS software is used by most machines. These are not just the machines but the full system with a large display, receipt printers, cash drawers, scanner,s and many other advanced features. No wonder why these machines are expensive. But they are full-fledged systems that can make your payment processing easy and simplified.
Credit Card Terminals Vs Mobile Readers: Which One Should You Choose?
This is a tough decision to make. Each of these methods has its own set of pros and cons. So, the selection should be based on a number of factors such as the usage, size of business as well as other requirements. Mobile readers are convenient and safe just for small use or say personal use. But if you want to have a credit card processing system for your business, you should consider having a credit card terminal. It is reliable, safe, and secure. Something like smart terminals and Integrated POS machines is great options for active businesses.