A retail business that does not accept card payments is going to lose customers. It is therefore wiser to invest in card processing solutions rather than have customers walk away, never to return.
If installation
of chip and pin machines is a daunting task, it need not be provided one
has proper guidance from experts. Before signing up for a service, it is worth
consulting professional integrated payment solution consultancy services. At
the front end, one would need to install chip and pin machines, and at the back
end, payment gateway integration with a suitable service provider. The machines
are usually tied in with the card processors and merchant bank accounts. The
terms on which these chip and pin solutions are made available vary from
one service provider to another. Some may charge a flat monthly fee while
others charge according to number of transactions or offer a pay-as-you-go model.
Charges are one thing, but selection of the right chip and pin terminal is
also important for fast, secure card processing. Consider the types available and their
suitability to the business.
Types of
terminals:
- Basic PDQ: This card machine is tethered to a broadband router and a power line and works at POS counters where there is not much rush.
- Wi-Fi or Bluetooth: It is the same as far as functions go but it is not tethered so any staff member can carry it. Larger retail spaces find this useful as staff members can bill customers on the shop floor. Entertainment complexes and stadiums are some other businesses where this type of terminal is more suited.
- GPRS Mobile PDQ: This is a mobile terminal with GPRS connectivity and it works wherever a phone signal is available. If shops practise home delivery and collect payment on delivery, equipping their staff with this type of terminal is ideal.
- Contactless terminals: Where there are large queues and it takes a long time to swipe the card and enter the PIN, a better alternative is a contactless unit where just placing the card next to the terminal completes the transaction.
Before a
merchant ties up with a processing service, it is essential that they examine
their “deal” and read the fine print and read between the lines. There may be
regular charges and additional charges, as well as penal clauses should a user
decide to break a contract. An expert consultant can help point retailers in
the right direction and get a deal that results in least cost incidence.
