Tuesday, 26 July 2016

Top 3 Ways Chip And Pin Terminals Can Revolutionize Small Business

Small business owners often have to be on the lookout for best payment options to correctly monetize their businesses. Modern lifestyle and shift in working trends has allowed individual service providers to create different types of business formats. Yet, without proper monetization, resources he chances of your business taking off successfully remain quite slim. Most consumers now depend on credit and debit card payments for sustaining their lifestyles. If your business does not provide this option, it is a very definite possibility that you are losing on potential clients even before they hit the sales funnel.


Merchant service providers can help you install efficient Chip and Pin terminals for your businesses, regardless of where you are operating your business. These machines are efficient, affordable, and more convenient than the bulky systems of previous card reading technologies. The installation of Chip and Pin Machines can completely change the brand image for your business. Here is how.

Paying for services before pay day

Your business should put consumers on a priority list providing every opportunity for increased consumer convenience. Providing an option for Chip and Pin operated card payments allow your consumers to pay for products and services before their payday. Credit cards allow them to keep up with continuous services and you can charge for products in different formats, for instance in packages or subscription plans.

Saving administration time otherwise lost on invoices

Invoices take up a lot of time in both creation and maintenance. Instead of generating invoices for every client that books your services, you can automate the entire process by putting up your services for card payments. It allows your business to have automatic written records of transaction with each payment.

Possibility of up-selling services with card payment convenience

If your business is selling products and services for cash, the sale becomes limiting to the amount conveniently available with the consumer. With card payment option, consumers can be pitched for compatible services and products to up-sell the final sale. Any changes in the final invoice can be made within a few moments and the sale can be processed without any time lag in between.

Thursday, 7 July 2016

Chip and PIN Payment Technology - Is It Really Essential?

This technology has been around for a few years, but it has undergone a lot of development in the last couple of years. This is considered to be the best mode of payment for small businesses. Do you want to know more about Chip and PIN? 

 
Why should you go for it?
It reduces the risk of frauds to a large extent. Cards that follow magnetic stripes and signature systems are highly risky because signatures can be forged easily. PIN number cannot be forged. It is safe to use cards with PIN code because no one else knows your PIN code. It has been proved that frauds on cards have been reduced almost by 80% in UK after this technology was introduced. 

How does it work?
There is a small computer chip in a Chip and PIN card. The chip stores data and acts as a data processor too. You have to insert the card into a Chip and PIN terminal. The next step is to enter your PIN number. The PIN number entered should match the number stored in the chip. The four digit PIN code is the means for authorization of the card. This is the proof that the card is used by the owner and none else. This helps in reduction of frauds. 

What are the requirements?
The first requirement is a merchant account. It is through this account that your transactions on Chip and PIN will be carried out. From the merchant accounts the money will be cleared to your main account. The next requirement is a Chip and PIN machine. You have to make your monthly rental payment through this machine. The fees charged are not very high. It varies depending upon the transaction. 

Chip and PIN card services are provided by a lot of companies. Chip and PIN solutions is one among them. They provide you with the machine. You need not buy it from a third party. They offer quick service. It takes a couple of minutes to complete a transaction. They offer competitive rates. You can save your money as well as time. Go to the unrivalled leaders in contactless payments to get the best.

PDQ Machine: Why Should You Invest In One?

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