Top Reasons For Small Businesses To Switch to Chip & Pin Machines

Irrespective of whether it is a small or a big business, credit card processing has formed its essential component. The latest way to make this processing a smooth walk, has been the chip and pin machines. Resorting to these and chip and pin terminals has now become imperative to even small businesses which a decade earlier was unimaginable for them and meant only for giant companies. Let’s understand why small businesses should switch to them, if not by now.

• Whether you are on the go or for any transaction, security is a big concern with any customer. This concern is best addressed by the chip and pin technology where the information is read through a computer chip and then the customer himself punches in the PIN number to verify the identity. This almost eliminates any possibility of your card getting charged without your consent.
• In the previously used magnetic strips it was as easy to override information and was extremely easy to have the magnets interacting in the wrong way. However, with advanced technology, it is not so easy to lift off the information off the magnetic strips. Using EMV (Europay, MasterCard, and VISA) cards is perhaps the best way to attain this capability and this requires a Chip & PIN credit card processor to work smoothly.
• To keep up with the competition, you must be able to accept payments through different platforms, particularly the mobiles. Today, you have specialized chip and pin machines which transmit payment information using mobile phone signals to the to the merchant services provider using the GPS technology mostly.

These are some of the top reasons. Apart from these, small business can enjoy a number of great benefits by using a chip and pin machine.

Various Types of Online Card Processing Services – Making the Right Choice

Accepting online payment is a far more intricate process than accepting cash payments. You cannot go directly to a bank taking the customer’s credit card number. An intermittent service is required which to process payments, track them as well as settle any discrepancies and disagreements that can possibly arise in any financial transactions.

Regarding payment with debit or credit card, there are two main ways of payment. The first is by swiping the card through the card reader at any retail store or entering the credit card information into an online payment form. The second method is chosen for online payments. As an intermittent online card payment processing services, there are many merchant account providers who take care of the job in an efficient and secure manner.

Payment Processing Services - What they offer
Since the transactions happen on a global level, some payment processors lay down special requirements for their services for international customers because of various limitations to worldwide services.

A good payment processor will facilitate conducting online transactions in real time which not only saves time but also eliminates the requirement of manual processing which in turn reduces risk and provides better protection against any possible frauds. Generally, the payment processing methods are selected based on the volume of online transactions they would need to process for any business. To render real-time payment processing services to customers, the merchant account provider can either create a connection from their e-commerce site to the acquirer for easy connection to any card processing network or outsource it to a third-party payment service provider.