Payment methods and tools have grown tremendously over the years. Payment cards such as debit or credit cards may seem ubiquitous, but there was a time they were not in use. Old credit card machines may no longer have the same technology needed today. They are a recent innovation, and a lot has changed ever since.
This rapid invention can be associated with the advent of better credit card machines. These machines also have a deep-rooted history that has contributed to the development of better types of credit cards. Before looking at the old credit card machine, keep in mind that the first payment credit card, Diners Club, came into use in the USA in 1950.
American Express followed in a few years later, in 1958. They were both charge cards, and you had to pay the full amount on your credit card at the end of the month. These cards were introduced to give merchants a standardized way to settle their transactions without using cash.
The first payment cards came in cardboard form, and they required a lot of manual recording. The merchant owner had to produce an imprint on carbon paper slips. These imprints were done on the first non-electronic card machine, the credit card imprinting machine, or the credit card imprinter.
The advent of technology led to the introduction of the first electronic payment machine or terminal to read the magnetic stripe on the payment cards. Today, we can use different types of credit card machines, but some companies still keep the old credit card machines. These machines worked in a simple manner, and some businesses still use them. Customers had to sign a form that is mailed to the bank to receive payment.
Institutions that use old card machines use them because they help in the event of a communications interruption. The old machines are helpful if you do many transactions at markets that don’t have easy access to electricity.
What Can You Do With Old or Outdated Credit Card Machines
With many businesses moving to the technologically cutting-edge point of sale machines, you may be wondering what to do with your outdated credit card machines. Many people decide to get rid of these outdated machines and embrace new technological developments. But did you know there are procedures to follow and discard old electronic machines?
The best thing to do if you have several old credit card machines is to call the nearby city’s waste disposal service. This is a company responsible for recycling e-waste, such as credit card terminals, machines, computers, and monitors. It is important to keep in mind that these machines should not be thrown into landfills whenever one wishes to. These machines can be a danger to the environment and need to dispose of properly.
If not so, you can go on a find a third party that recycles electronics. There are many metal recyclers out there who accept electronics because they are made using precious metals. They can go on and sell them to electronic companies.
Feel free also to take the machine to your preferred recycling service provider. If you throw away this piece of equipment in the trash, you run the risk of non-compliance. A legal shred can come to your business and securely or safely help destroy the old card machines. Your company of choice will make sure the equipment is disposed of in an environmentally safe solution.
What Are The New Features That Credit Card Machines Don’t Have?
With new alternatives for manual credit card machines, there is a lot to know about the latest transaction techniques. Phone authorization was the next big evolutionary step in credit card machines. Merchants were able to do transactions via their phones and receive verbal confirmation.
Point of Sale’s (POS) came into use, and Visa was introduced. Over the years, technology became better, and today there are better credit card processing machines in use. These machines come with outstanding features many old credit card machines don’t have. They include:
The (Europay, MasterCard, and Visa) EMV chip is a small computer chip that appears on one of your credit cards. This technology came into use because it could protect users against fraudulent activities. Unlike the older credit cards with magnetic strips, the cards with EMV chips are read differently.
Users must insert the credit card into a slot of the machine and wait for the purchase to take place. It will not take long before the transaction is undertaken. The chip-and-PIN technology is outstanding, but consumers need to be wary of data breaches.
Significantly, EMV chips support contactless, contact, and mobile transactions. You can as well rest assured of authenticity in your transaction. Chip cards also store considerably more information than old magnetic stripe cards. Don’t forget that credit cards with EMV chips are a global standard, and you can use them around the world.
NFC (Near Field Communication)
Near Field Communication (NFC) is a technology that allows customers to use their mobile phones or NFC enabled credit cards to undertake contactless payments. A customer can easily tap a card within an inch of the payment terminal and complete a transaction. This includes options like apple pay and android pay.
NFC technologies are growing each day, and they are fast, safe, and secure for use. Smartphones are user-friendly when it comes to transactions, a feature old credit card machines didn’t guarantee.
Technology keeps growing each day, and you should be well-acquainted with the latest methods of undertaking transactions. If you still have the old credit machines and no longer want to keep them, fret no more. It’s best to seek the services of the nearby authorized waste disposal company. On the other hand, contactless and mobile payments are the in-thing, and you should be well-versed with these technologies.