What Are Some Must Have Features In A Payment Processing Card Machine

Features In A Payment Processing Card Machine

A payment processing card machine has become an essential need for almost every business. There has been a sudden rise in cashless payments since the start of the Covid-19 Pandemic. People no longer want to carry cash-filled wallets so merchants must have electronic payment processing machines.

These payment processing card machines can have many features but some features are a must-have. Down below is a list of them:

Security Features In The Card Machine

With card processing machines getting more sophisticated with each passing day most of them have integrated a security feature called tokenization. This feature uses point-to-point encryption to protect the credentials.

Hackers and fraudsters have devised sophisticated methods to steal critical data so it is important for businesses to take necessary security measures. Your payment processing credit card machine should have trustworthy security features.

Security breaches have become a common happening, one such instance is the 2019 Capital One data hack. In this event, over 100 million customers' personal data was leaked. Similar attacks have taken place against TJ Maxx, Home Depot, Target, and more

Also when a security breach occurs, the suspicion is not limited to the payment processing card machine. The customers start doubting your business ethics and morals. Therefore, small businesses need to have security features in their card machines.

Reliable Access to Funds

Businesses are heavily reliant on the money they earn through sales, therefore it is important to receive funds at the earliest once a card machine charges a card. On average, your funds will be released to your account within 1-3 days after the transaction. Although, there can be delays due to bank holidays.

But you might be thinking why are there delays? These delays act as a buffer between you and a fraudulent transaction. During this time the bank and the credit card company verify the information of the customer.

Keep in mind that these delays are due to banking rules and regulations. Your payment processing card machine has no control over this delay so if a card machine claims a shorter delay period or a delay longer than 3 days - know that something is wrong.

User-Friendly Interface

Payment Processing Card Machine is not only processing payments at your shop's counter but it also needs to handle payments made on online platforms. Therefore, it is important for your card machine processor to have a simple user-friendly interface.

These are some key features that user experience designers recommend:

  • Using short simple phrases
  • A feature asking confirmation for the payment amount
  • A FAQ section or a section that informs the customer about the cards that are accepted
  • Using a date format that matches with different types of cards
  • A zipcode field as a security feature

These design features will ensure that customers always have a seamless check-out experience.

Transparent Rates and Fees

Your payment processing card machine should have well-defined and set rates/fees for each transaction. This will keep your business from paying unidentified charges.

It is common for companies to market a low rate for card processing machines but this is a bait tactic to lure you into a contract. As soon as you sign the contract, they will increase the transaction fee.

Therefore, when choosing a payment processing card machine you should choose one that has legitimate rates. Also, ask them about the possibility of an increase in rates in the future.

Credit card machines can quickly add up fees. These fees include application fees, surcharges, service packages, markups on legitimate fees, and other charges.

You should choose a contract that is simple and straightforward. It should explain all the rates and fees clearly to you.

Least Possible Hardware

Having an outdated payment processing card machine will not only make your checkout point inefficient but is also a security risk because these traditional terminals cannot cope with modern fraudsters.

Most modern payment processors can be integrated into digital electronic devices such as a mobile device or a tablet. The only thing they must have is to accept EMV technology. These devices require minimal space and can be accommodated in small spaces.

Finally, your credit card processor should support both online and mobile payments. Having thses flexible payment options will ensure your business never misses an opportunity for a sale.

Plenty of Payment Options

This feature is the most important since your customers can have any kind of card so you must ensure that your payment processing card machine accepts multiple payment options

Your credit card processor should accept standard options such as MasterCard and Visa as well as Chase, Capital One, Citi, and Discover. Newer credit cards have increased in popularity so your payment processor should accept them.

By accepting a wide range of payment options, your payment processing card machine can help keep things simple for customers.

Easy Integrations

The most essential function of your payment machine is to make payments easier and not complicate them. You should ask the payment processing card machine company if they can integrate their system with your existing software or not.

The most basic thing the card machine company can do for you is to integrate the payment software with your accounting software.

Choose EPOS Now Payment Solutions

At EPOS NOW, we provide payment processing card machines that fulfill all of your business requirements. Our professionals not only provide payment solutions but will also help you to solve other problems faced by your business. These include payment integration across multiple platforms and integration of your accounting software with the payment processor.

Our efficient payment solutions can streamline a myriad of your business functions. Moreover, they will also help you to leave a lasting impression on your customers since we accept payments from plenty of options and provide industry-leading security features to protect your customers’ data.

You can also get expert advice from our professional business analysts to improve your business strategy. Or if you are just starting your new business they can help you with basic things such as how to choose a business name and how to choose the best payment processor for a small business.

To find out more about our services at EPOS NOW you can visit us here:

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